Mark Carney, the frontrunner to become Canada’s next prime minister, declared that the country will “stand up to a bully” in response to President Donald Trump’s announcement of a 25% tariff on Canadian imports.
In an exclusive interview with BBC Newsnight, the 59-year-old Carney emphasized that Canada would “match dollar for dollar” the US tariffs imposed. This comes after the White House also announced similar tariffs on Mexico (25%) and on China (10%).
Carney, who previously served as the governor of both the Bank of Canada and the Bank of England, announced his candidacy for the leadership of Canada’s governing Liberal Party in January. He has emerged as a leading candidate among the five vying to succeed Prime Minister Justin Trudeau, who plans to resign after nine years in office. The leadership race will conclude on March 9.
Following the leadership contest, Canada is required to hold federal elections by October 20, amid polling that shows the Liberal Party trailing its Conservative rivals.
In his remarks on the tariffs, Carney expressed that “President Trump probably thinks Canada will cave in.” He reaffirmed Canada’s commitment to respond assertively: “But we are going to stand up to a bully, we’re not going to back down. We’re united and we will retaliate.”
Carney warned that the tariffs would damage the US’s global reputation, stating, “They’re going to hit growth. They’re going to move up inflation. They’re going to raise interest rates.” He criticized the US for effectively “ripping up a trade agreement” with Canada for the second time in less than a decade, referencing the recent US-Mexico-Canada Agreement (USMCA) that replaced NAFTA.
Economists have cautioned that the newly imposed tariffs could severely affect Canada’s economy and lead to higher prices for American consumers as well. Tariffs are a key component of Trump’s economic strategy, aimed at fostering US economic growth and protecting jobs.
Outgoing Prime Minister Trudeau has asserted that Canada’s response to the tariffs will be “forceful” and “immediate.” On Friday, Trump stated that Canadian oil would face reduced tariffs of 10% starting on February 18 and indicated plans to impose tariffs on the European Union in the future, citing unfavorable treatment of the US.
Credit: BBC News
