Canadian Prime Minister Mark Carney pledged Wednesday to barter a “new financial and safety relationship” with the US – an announcement that comes on the identical day President Trump paused tariffs for dozens of countries, however not Canada.
“The pause on reciprocal tariffs introduced by President Trump is a welcome reprieve for the worldwide financial system,” Carney wrote on X, referring to the commander in chief’s 90-day pause on sweeping commerce charges.
“As President Trump and I’ve agreed, the US President and the Canadian Prime Minister will start negotiations on a brand new financial and safety relationship instantly following the Federal election,” the Liberal Occasion chief added.
Canada’s federal election is slated to happen on April 28.
Carney is extensively anticipated to maintain his put up as prime minister as polling exhibits the Liberal Occasion will simply preserve management of Parliament.
Carney’s conciliatory assertion stands in strark distinction to a extra defiant message he had for Trump final month, after the president slapped a 25% tariff on Canadian items not lined by the US-Mexico-Canada (USMCA) commerce pact.
“The Prime Minister knowledgeable the President that his authorities will implement retaliatory tariffs to guard Canadian staff and our financial system, following the announcement of further US commerce actions on April 2, 2025,” the Prime Minister’s Workplace stated in a March 29 press launch, following a name between Carney and Trump.
Regardless of being spared by Trump’s broader reciprocal tariffs, Carney hit the US with a reciprocal 25% tariff on all imported automobiles not lined by the USMCA Settlement.
Trump left tariffs on Canada, Mexico and China in place Wednesday whereas locking in a ten% tariff price on most imports and pausing larger retaliatory duties.
“As a part of at this time’s announcement, the President has signalled that the US will interact in bilateral negotiations with quite a few different international locations,” Carney wrote. “This may seemingly end in a elementary restructuring of the worldwide buying and selling system.”
“In that context, Canada should additionally proceed to deepen its relationships with buying and selling companions that share our values, together with the free and open change of products, companies, and concepts,” the prime minister added, earlier than telling Canadians that “the stakes have by no means been larger” forward of the nation’s federal election.
Supply hyperlink
