Commerce Secretary Lutnick Slams Canada Trade Strategy as 'Worst Ever'

U.S. Commerce Secretary Howard Lutnick criticized Canada's trade strategy and the Canada-United States-Mexico Agreement (CUSMA) during the Semafor World Economy summit in Washington, D.C. Lutnick described Canada's approach as the "worst strategy I’ve ever heard," stating "they suck" in response to suggestions that time favors Canada in negotiations. He indicated that President Donald Trump views CUSMA as a bad deal that must be "reimagined and needs to be readdressed" for the benefit of the United States, suggesting the pact could be let to lapse before the July 1 renegotiation deadline.

Lutnick specifically targeted Prime Minister Mark Carney's trade outreach to China and singled out former minister Chrystia Freeland as "the worst." While the U.S. Department of Commerce later claimed Lutnick's "they suck" remark referred to a trade imbalance rather than strategy, and White House officials suggested he was being misquoted, Lutnick maintained his criticism of the Canadian strategy.

Canadian Trade Minister Dominic LeBlanc expressed optimism about reaching a deal, asserting that the American economy needs many of the goods Canada provides. Meanwhile, U.S. Trade Representative Jamieson Greer warned that Canada lags behind Mexico in discussions and doubted all issues would be resolved by July 1. In response to economic pressures, including a reported $1 trillion capital exodus from 2015 to 2024, Prime Minister Carney announced a global investment summit in Toronto for September.