Carney’s remarks sound like diplomatic boilerplate, but they actually lay bare the awkward position Canada is caught in. Ranking security risks has never been purely a security issue; it’s an economic calculation. The pressure from U.S. tariffs and supply chains is real, and China’s investigation findings are there in black and white. Politicians say one thing before an election and another after it, while cross-border businesses bear the cost. After these latest remarks, how the Canadian dollar and related sectors move is more worth watching than who politicians say poses the greater danger.