Canadian Prime Minister Mark Carney has made it clear that Canada will engage with the United States on trade and security matters strictly on its own terms. In an exclusive interview with the BBC, Carney emphasized the need for respect from the U.S. as he prepares to tackle discussions with President Donald Trump.
Carney, who recently led his Liberal Party to a historic victory in a snap election, stated he would only visit Washington for discussions that truly respect Canada’s sovereignty. His comments come in the wake of Trump’s repeated remarks about making Canada the "51st state," a notion that has angered many Canadians. Carney firmly declared that such a scenario is "never, ever going to happen."
While acknowledging the economic ties between the two nations, Carney pointed out that Canada deserves respect in these discussions. Approximately 75% of Canadian exports go to the U.S., making it a vital market for Canadian businesses. Conversely, Canada accounts for only 17% of U.S. exports. He noted that Canada is also the largest foreign supplier of crude oil to the U.S., which is crucial given the expected $45 billion trade deficit the U.S. will face with Canada in 2024, primarily driven by energy demands.
Relations between Canada and the U.S. have become tense recently, fueled by Trump’s comments and his administration’s tariffs on Canadian goods. In response to the imposition of a 25% tariff on various Canadian products, Canada retaliated with approximately C$60 billion worth of tariffs on U.S. goods. Carney stated that any future talks with Trump would be conducted "on our terms, not on their terms," highlighting the need for a fair partnership.
Carney’s experience in managing economic crises, particularly during his tenure at the Bank of Canada and the Bank of England, will guide his approach to dealing with trade issues. He underscored Canada’s role as a significant client for many U.S. states and its importance in supplying essential resources, such as energy and fertilizer.
Looking ahead, Carney expressed optimism about the potential for a mutually beneficial agreement with the U.S., while also seeking to strengthen trade relationships with the European Union and the UK. He believes that the upcoming G7 summit hosted by Canada will be crucial in shaping the future of global trade, especially as it will coincide with the expiration of some of Trump’s higher tariffs.
In summary, Mark Carney is stepping into his role as Prime Minister with a clear message: Canada will engage with the U.S. on trade and security issues only when it is on equal footing, and he is prepared to stand firm in negotiations to ensure that Canada’s interests are respected.