6 hrs ago
Carney Says Canada Will Emerge Stronger After US Trade War
Canada and the United States are arguing about trade, which means buying and selling goods between them.
The United States has placed tariffs on some Canadian products, and Canada has responded with its own measures.
Canadian Prime Minister Mark Carney said Canada will not hurry into a new deal.
He wants Canada to become stronger and more independent.
He also said Canada and the United States can still make a deal that benefits both countries.
Carney said the relationship works best when both countries respect each other's sovereignty.
Canada plans to invite private companies to help operate four major airports while keeping public ownership of them.
He also said most trade between the two countries is still tariff-free.
Prime Minister Mark Carney said Canada will not rush into a new trade agreement with the United States.
Carney said Canada aims to become stronger, more resilient and more economically independent.
Canada and the United States recently imposed tariffs and retaliatory measures after trade negotiations broke down.
Ottawa plans to seek private investment through long-term operating concessions for four major airports while retaining public ownership.
Carney said a mutually beneficial agreement remains possible when the timing is right, noting that about 80% of bilateral trade remains tariff-free.
- Who
- Canadian Prime Minister Mark Carney, the Canadian government and the United States.
- What
- Canada is delaying a trade agreement while responding to US tariffs and pursuing greater economic independence.
- Where
- At the Canada Investment Summit in Toronto, Canada.
- When
- Carney made the remarks on Tuesday; the negotiations had broken down the previous month.
- Why
- Carney said Canada should not return to past economic arrangements and should protect its sovereignty while building stronger partnerships.
Canada's cautious approach
US pressure approach
Timing of a trade agreement
Canada's cautious approach
Carney said Canada will wait until the timing is right before striking a deal and will prepare to operate as a stronger, more independent partner.
US pressure approach
The United States has used tariffs and additional trade restrictions to pressure partners, while encouraging manufacturers and investment to move south of the border.
Economic relationship
Canada's cautious approach
Carney argued that lasting cooperation requires respect for Canada's traditions and sovereignty, rather than a transactional or zero-sum relationship.
US pressure approach
Carney characterized the current international environment as one in which transactions are replacing relationships and zero-sum thinking is favored over mutually beneficial arrangements.
Key facts
- Speaker
- Canadian Prime Minister Mark Carney
- Trade status
- About 80% of cross-border trade with the United States remains tariff-free.
- US tariffs
- Washington imposed 50% tariffs on approximately USD 20 billion worth of Canadian goods after negotiations broke down.
- Canadian response
- Ottawa introduced retaliatory measures and faced further US restrictions on Canadian merchandise.
- Airport plan
- Canada plans to seek long-term private operating concessions for four major airports while retaining public ownership of the land and assets.
- Potential investment
- Carney said the airport initiative could generate tens of billions of dollars for transportation and other infrastructure.
- Next destination
- Carney was scheduled to travel to Europe and address the European Parliament.
Quotes
Mark Carney
Prime Minister of Canada
“There is a mutually beneficial arrangement that can be had. When it is the right time to strike that deal, we'll be ready to do that.”
republicworld.com
“When those opportunities return, Canada will be an even better partner - stronger, more resilient, more independent.”
republicworld.com
Sources
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