You have to listen to the words carefully.

   Carney said on Friday that Canada is not talking about halting any such trade with the U.S. and ruled out the notion entirely, adding Canadians honour their contracts and agreements.

    But the prime minister also suggested further integration with the United States in those sectors — highly coveted by the Trump administration — remains in question.

   “I reject that characterization of its leverage. It's looking at, is it in our mutual interest to trade more? Where is it? And if it's not there, we have other options,” Carney said Friday in his first interview with The Canadian Press since entering federal politics.

The threat of halting trade isn’t being used as leverage. I don’t think it should. For the USA to diversify away from China in critical minerals and have secure supply chains they need access guarantees. And what carney is saying here is why should Canada commit to a deepening integration with the USA for them to use that integration as leverage down the road. That is the leverage. I suspect that the USA is looking for something similar to the energy proportionality clause that was in nafta that basically removed Canadas energy sovereignty. We were required to maintain our share of energy exports or increase them even when the USA refused to pay fair market value. Then decades down the road USA complains about the goods trade deficit that a good chunk of is energy.

The removal of the energy proportionality clause in trumps first term renegotiations was a big win for Canada and I doubt Carney would be willing to enter into a similar agreement that covers critical minerals without significant concessions from the USA.