US Treasury Secretary Scott Bessent speaks at the USA house during the Annual Meeting of the World Economic Forum in Davos, Switzerland, Wednesday, Jan. 21, 2026. Trump on Saturday threatened to impose a 100% tariff on goods imported from Canada over a trade deal Carney is pursuing with Beijing. “I would not pick a fight going into USMCA to score some cheap political points -- either you’re working for your own political career or you’re working for the Canadian people," Bessent said during a CNBC interview. “To be absolutely clear, and I said this to the president, I meant what I said in Davos,” Carney told reporters. The North American trade agreement signed in 2020 during Trump's first term, but lately the Republican president has expressed indifference to it.