Trump’s economic actions and threats have proven to be far more damaging than his annexation remarks, experts note.
“He has weaponized market access to the U.S.,” says Leblond. “What we can expect is more economic pressure from the White House in the coming months. Trump and his acolytes certainly [appear to] see Canada as a small, weak country that the United States should try to squeeze further.”
The U.S. is Canada’s largest trading partner, with almost $2.6 billion worth of goods and services passing across the border daily in 2024. According to the Office for the U.S. Trade Representative, trade between the two was down 4.6% from 2024 to 2025, but still saw $872.3 billion worth of goods and services cross the border.
Still, there are concerns that any suggestion of annexation, however unlikely it may be, could damage Carney’s high-stakes domestic campaign to unite the country.
On the home front, the success of a separatist party in Quebec is another threat to the unity that Carney is striving for. However, despite the Parti Québécois’ victory (they fell five seats short of securing a majority government), the desire for separatism among Quebec residents remains low—with only 31% in favor of sovereignty for the province, according to data from 338 Canada released on Oct. 11.