Mark Carney, a leading candidate for Canada’s next prime minister, has pledged that Canada will “stand up to a bully” following US President Donald Trump’s decision to impose a 25% tariff on Canadian goods.
In an exclusive interview with BBC Newsnight, the 59-year-old former Bank of England governor declared that Canada would respond by matching the US tariffs “dollar for dollar.”
Carney confidently stated that despite President Trump’s expectations, Canada would not be intimidated. “President Trump probably thinks Canada will cave in, but we are going to stand up to a bully, we’re not going to back down,” he said. “We’re united, and we will retaliate.”
Carney also emphasized the broader consequences of these tariffs, warning that they would harm the US’s international reputation, slow down economic growth, raise inflation, and increase interest rates.
This marks the second time in less than a decade that the US has essentially “ripped up” a trade agreement with its closest neighbor, Carney added.
In response to the tariff announcement, outgoing Prime Minister Justin Trudeau has pledged that Canada’s response will be “forceful” and “immediate.”
On Friday, President Trump revealed that Canadian oil would face a reduced tariff of 10% starting on February 18, and indicated future tariff plans targeting the European Union. Along with the tariffs on Canada, the White House also unveiled a 25% tariff on imports from Mexico and a 10% tariff on goods from China.
Carney, who launched his campaign for leadership of the Liberal Party in January, is one of five candidates vying to succeed Trudeau, who announced his resignation after nearly a decade in office. Carney has received strong support from Liberal MPs, and the leadership race is set to conclude on March 9. Following the leadership change, Canada will hold a federal election by October 20, with the Liberal Party currently trailing behind their Conservative rivals in the polls.
