Carney hopes trade war with US will make Canada stronger and more resilient
- On Tuesday, Canadian Prime Minister Mark Carney told global investors in Toronto that Canada intends to emerge from the trade war with the United States as a more resilient, self-reliant economy, prioritizing long-term independence over rushing into a deal.
- Trade negotiations between the two nations collapsed last month, leading Washington to impose 50% tariffs on about $20 billion in Canadian goods, which prompted retaliatory measures from Ottawa.
- To bolster domestic competitiveness, Carney unveiled a "productivity mega deduction" tax break allowing businesses to write off more than 65% of investment, while announcing plans to seek private investment for operating Canada's four largest airports.
- President Donald Trump's blunt "maybe they'll shoot you" remark regarding White House access highlights the diplomatic friction Carney faces, who emphasized that "nostalgia is not a strategy" for navigating volatile transactional relationships.
- Despite current tensions, Carney noted about 80% of trade with the U.S. remains tariff-free; he departs for Europe later today to address the European Parliament, seeking to strengthen economic ties with like-minded partners.
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Carney says Canada can wait for the right conditions in trade war and emerge stronger
Canadian Prime Minister Mark Carney says Canada intends to emerge from its trade war with U.S. President Donald Trump “stronger, more resilient, more independent,” while telling Washington that future cooperation must be based on respect for each country’s sovereignty. Carney…
PM Mark Carney signals Canada is ready for US Deal ‘when it's the right time’
Canadian Prime Minister Mark Carney said Canada remains open to reaching a trade agreement with the United States, but only when the timing and terms are right. His remarks come amid ongoing tariff tensions and stalled negotiations, with Ottawa emphasizing economic stability, Canadian interests and a mutually beneficial trade relationship.
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