Canada

The Trump administration is once again ramping up its rhetorical pressure on Canada, with U.S. Treasury Secretary Scott Bessent issuing a fresh warning to Prime Minister Mark Carney over looming trade negotiations.

Bessent was at an event in Washington, D.C., on Wednesday to launch what U.S. President Donald Trump has dubbed "Trump Accounts," an investment vehicle for children.

In an interview with CNBC's Sara Eisen, Bessent was asked about the rift between Trump and Carney over the prime minister's headline-grabbing speech at the World Economic Forum in Davos, Switzerland.

"I would just encourage Prime Minister Carney to do what he thinks is best for the Canadian people, not his own virtue signaling, because we do have a USMCA negotiation coming up," Bessent said, using the American acronym for the Canada-U.S.-Mexico Agreement (CUSMA).

"I would not pick a fight going into USMCA to score some cheap political points," he added.