President Donald Trump's Commerce Secretary Howard Lutnick said trade negotiations with Canada collapsed for political reasons tied to Prime Minister Mark Carney's goals, despite what Lutnick described as strong economic terms. He said he met Canadian Trade Minister Dominic LeBlanc at least 10 times in the last month and spoke with Carney twice in the 24 hours before the talks ended. Lutnick said Canada already had the best trade deal in the world and was positioned to receive an even better agreement, but walked away for political purposes. He predicted Canadian negotiators could return after Canada's October elections. Lutnick also rejected Canada's objections involving the French language and said medium- and heavy-duty truck tariffs were raised separately from the broader negotiations. U.S. Trade Representative Jamieson Greer reaffirmed that Canada had been offered the best deal and said those truck tariffs were distinct from Section 232 tariffs (U.S. national-security trade measures). Despite the drama after the talks collapsed last Friday, bank CEOs brushed off the potential fallout during earnings calls this week.