Bessent: No end in sight to U.S. tariffs due to Carney’s deal with China
Top U.S. officials admit that even if Canada dumped its entire anti-American retaliatory tariff regime, U.S. duties would remain.
Author: Clayton DeMaine
Top U.S. officials admit that even if Canada dumped its entire anti-American retaliatory tariff regime, U.S. duties would remain all because Prime Minister Carney has agreed to allow cheap Chinese electric vehicles to flood its market.
While testifying before the Senate Banking Committee in Washington, Treasury Secretary Scott Bessent signalled that even if Canada removed all tariffs on the U.S., Prime Minister Mark Carney’s recent deal with the communist dictatorship in China to allow 49,000 cheap electric vehicles (EVs) to flood the market would mean U.S. tariffs would remain in place.
Republican Senator John Kennedy asked Bessent if President Donald Trump would remove all tariffs on Canadian exports if Canada removed 100 per cent of its tariffs on the U.S. Bessent signalled there is no way America would allow China to ship its EVs across Canada’s southern border.
“Absolutely not as we saw last week when Prime Minister two weeks ago, when Prime Minister Carney, went to China, he lowered tariffs on Chinese EVs from 100 per cent to 6.1 per cent,” Bessent said. “The U.S. has a 100 per cent tariff on Chinese EVs. We couldn’t let our northern borders be used as a way for Chinese EVs to come into the US.”
Two weeks ago, Trump threatened to impose 100 per cent tariffs on Canada over Carney’s recent trade deal with China. In a post on Truth Social he said “Governor Carney thinks he is going to make Canada a “Drop Off Port” for China to send goods and products into the United States, he is sorely mistaken.”
“China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life,” the post read. “If Canada makes a deal with China, it will immediately be hit with a 100 per cent tariff against all Canadian goods and products coming into the U.S.A.”
Ontario Premier Doug Ford, whose province is Canada’s largest automotive exporter, opposed the Canada-China deal, calling Chinese EVs “spy cars.” Conservative Leader Pierre Poilievre similarly raised concerns about the deal impacting Canada’s national security.
Ford noted at the time that the deal was sure to upset the Americans, considering 80 per cent of Ontario’s auto exports go to the U.S.
An Ontario auto-parts executive also raised concerns that the EVs would be used to spy on Canadians. The executive warned that the communist government of China does not even let American vehicles enter its country due to security reasons, and Canadians should take the espionage threat from China seriously.
The security angle here is underrated. Bessent's positioning makes it clear that this isn't really abouttariffs anymore but about using trade policy to enforce tech sovereignty. Canada letting 49k Chinese EVs through basically forces the U.S. to treat the border as a security perimeter rather than a trade boundary. I've seen similiar dynamics play out in telecom negotiations where one country's openness becomes another's vulnerability and suddenly everything gets reframed.
Now the slavers are demanding that Venezuela buy ONLY American, that they may no longer have any sovereign trade with anybody but uncle sam. This is what they want to force on Canada. Nothing can please them. We will not look back. Its over. They want slaves, not partners, not friends... slaves. Nothing will please them. Cut off all trade with America, prepare for NATO to collapse, and for alignment and joining with BRICS, the new real global economic powerhouse. BRICS’ combined GDP in PPP terms is about 77 trillion dollars in 2025, versus about 57 trillion for the G7. We must love and respect our BRICS neighbors. Canadas central bank needs to buy gold. US dollar is finally collapsing, it will be dead between now and 2027, when that happens Americans will be wishing they were Cuban or Venezuelan. Peter Schiff predicts gold to reach 20,000 USD per ounce, that the US dollar will soon lose its global reserve status. He predicts the crash will be a uniquely American crisis, not a global crisis.
However... Canada is unique among G7 countries in having zero official gold reserves. Canada’s central bank is not currently buying gold; a status that has not changed since the country sold off its last holdings in 2016 and instead keeps its foreign reserves mainly in interest‑bearing foreign‑currency assets (especially U.S. dollar securities)
A collapse of the U.S. dollar would expose Canada's unique vulnerability among developed nations, as its central bank—unlike those of China, Russia, Germany, or even smaller economies—holds essentially no gold whatsoever, meaning the country would wake up to find its entire foreign reserve wealth evaporated overnight, its currency in freefall, and its government scrambling to borrow or barter with nothing of tangible value to offer creditors or trading partners.
Canadians need to drop us securities in exchange for precious metals.