Mark Carney Declares End of a Key Trade Relationship as Canada Prepares Retaliatory Measures**
Canadian Prime Minister Mark Carney has declared that one of the most significant trade agreements of his lifetime is effectively over, following the imposition of new tariffs by former U.S. President Donald Trump.
Addressing reporters in Ottawa on March 27, Carney affirmed that Canada would not yield to external economic pressure and would remain firm in its stance against U.S. trade policies. He emphasized the necessity of rethinking Canada’s economic framework in response to the shifting dynamics of international trade, calling for a fundamental restructuring of the country’s economic strategy to reduce reliance on U.S. cooperation.
The latest escalation in trade tensions was prompted by Trump’s March 26 announcement of a 25% tariff on imported vehicles and vehicle components, a measure he described as permanent. In response, Canada has signaled its intention to implement its own tariffs on U.S. goods, aiming to maximize economic repercussions for the United States while mitigating the impact on Canadian industries.
Carney underscored that Canada would not acquiesce to policies designed to weaken its economy, asserting that attempts to exert dominance over the country would not succeed. He acknowledged the broader implications of the U.S. administration’s approach, stating that efforts to restructure the American economy have significant consequences for global trade.
“I respect the commitment to supporting American workers, but I fundamentally disagree with the method being used to achieve this,” Carney stated. “We reject any effort to diminish Canada’s economic standing or force dependence on the U.S. Our response to these tariffs is clear: we will defend our industries, implement countermeasures, and work toward economic resilience.”
While Canada remains resolute in its approach, Carney acknowledged that economic challenges may lie ahead as the country adapts to an increasingly uncertain trade landscape. Despite this, he expressed confidence in Canada’s ability to navigate the difficulties and maintain its economic sovereignty.
Reflecting on recent events, Carney urged Canadians to recognize the lessons from these developments, emphasizing the importance of national self-sufficiency and solidarity in the face of external pressures. “The initial shock is behind us, but we must never forget the importance of looking after our own interests and supporting each other in challenging times,” he concluded.
