Canadian Prime Minister Mark Carney issued a strong rebuke Thursday of Donald Trump’s sweeping tariffs on nearly every country in the world.
“Our old relationship of steadily deepening integration with the United States is over. The 80-year period when the United States embraced the mantle of global economic leadership, when it forged alliances rooted in trust and mutual respect, and championed the free and open exchange of goods and services is over,” Carney continued. “While this is a tragedy, it is also the new reality.”
Trump’s announcement does mark the end of U.S. leadership in global trade, favoring the kind of protectionist economic policy that drove the U.S. into the Great Depression nearly 100 years ago. And Carney, who is a former central banker and a former deputy minister for Canada’s finance department, likely understands exactly how destructive Trump’s tariff policy would be.
Last week, Carney slammed Trump’s “permanent” 25 percent tariff on all imported vehicles and autoparts as a “direct attack” on Canadian auto workers, and in a stunning break with its longtime ally, Carney announced that Canada’s relationship with the U.S. was “over.” Carney had warned that Canada, which is currently one of the top importers of U.S. goods, totalling $412.7 billion in 2024, would need to reshape its economy to wean itself off its southern neighbor.
Carney doubled down on this threat Thursday, saying that Canada would begin “looking elsewhere to expand” its trade partnerships. Earlier Thursday, he posted on X that he had already spoken to German Chancellor Olaf Scholz about expanding trade relations between the two countries.
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