{"id":44795,"date":"2025-02-01T03:34:07","date_gmt":"2025-02-01T03:34:07","guid":{"rendered":"https:\/\/gyalchisarshog.com\/?p=44795"},"modified":"2025-02-01T03:34:12","modified_gmt":"2025-02-01T03:34:12","slug":"canada-will-stand-up-to-a-bully-says-pm-contender-carney-over-trump-tariffs","status":"publish","type":"post","link":"https:\/\/gyalchisarshog.com\/?p=44795","title":{"rendered":"Canada ‘will stand up to a bully’, says PM contender Carney over Trump tariffs"},"content":{"rendered":"\n

BBC: <\/p>\n\n\n\n

Mark Carney, the frontrunner to be the next Canadian prime minister, has said his country is “going to stand up to a bully” after US President Donald Trump announced tariffs of 25% on Canada.<\/p>\n\n\n\n

Speaking exclusively to BBC Newsnight<\/a>, 59-year-old Carney said Canada will “match dollar for dollar the US tariffs”.<\/p>\n\n\n\n

As well as levying a 25% tariff on Canadian imports on Saturday, the White House has announced tariffs of 25% on Mexico and 10% on China.<\/p>\n\n\n\n

Carney, who announced his run for leader<\/a> of Canada’s governing Liberal Party in January, is the former governor of the Bank of Canada and the Bank of England.<\/p>\n\n\n\n

He is currently one of five candidates in the running to succeed Justin Trudeau – and has so far secured the largest support base among Liberal MPs<\/a>.<\/p>\n\n\n\n

The leadership race will conclude on 9 March.<\/p>\n\n\n\n

The winner will replace current Trudeau – who announced his intention to resign in January after nine years in office – both as prime minister and party leader.<\/p>\n\n\n\n

Canada is then required to hold an election on or before 20 October, with the Liberal party currently trailing their Conservative rivals in the polls.<\/p>\n\n\n\n

In response to the tariff announcement, Carney told Newsnight that “President Trump probably thinks Canada will cave in”.<\/p>\n\n\n\n

“But we are going to stand up to a bully, we’re not going to back down,” he said.<\/p>\n\n\n\n

“We’re united and we will retaliate.”<\/p>\n\n\n\n

The former Bank of England governor said the tariffs are “going to damage the US’s reputation around the world”.<\/p>\n\n\n\n

“They’re going to hit growth. They’re going to move up inflation. They’re going to raise interest rates,” he said.<\/p>\n\n\n\n

He added that it’s the “second time” in less than a decade that the US has “in effect, ripped up a trade agreement with its closest trading partner”.<\/p>\n\n\n\n

In 2020, towards the end of Donald Trump’s first term, the US-Mexico-Canada Agreement (UCMCA) came into effect<\/a> – effectively an update to Nafta, the agreement between the three countries which had been in place since the 1990s.<\/p>\n\n\n\n

Economists have suggested the newly imposed tariffs could have a devastating immediate impact on Canada’s economy – while also leading to higher prices for Americans.<\/p>\n\n\n\n

Tariffs are a central part of Trump’s economic vision. He sees them as a way of growing the US economy, protecting jobs and raising tax revenue.<\/p>\n\n\n\n

Outgoing Prime Minister Trudeau has said Canada’s response will be “forceful” and “immediate” to the new tariffs.<\/p>\n\n\n\n

Trump said on Friday that Canadian oil would be hit with lower tariffs of 10%, which would take effect later, on 18 February.<\/p>\n\n\n\n

The president also said he planned to impose tariffs on the European Union in the future, saying the bloc had not treated the US well.<\/p>\n","protected":false},"excerpt":{"rendered":"

BBC: Mark Carney, the frontrunner to be the next Canadian prime minister, has said his country is “going to stand up to a bully” after US President Donald Trump announced tariffs of 25% on Canada. Speaking exclusively to BBC Newsnight, 59-year-old Carney said Canada will “match dollar for dollar the US tariffs”. As well as levying a 25% tariff on Canadian imports on Saturday, the White House has announced tariffs of 25% on Mexico and 10% on China. Carney, who announced his run for leader of Canada’s governing Liberal Party in January, is the former governor of the Bank of Canada and the… <\/p>\n","protected":false},"author":1,"featured_media":44796,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-44795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/44795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=44795"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/44795\/revisions"}],"predecessor-version":[{"id":44797,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/44795\/revisions\/44797"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/44796"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}