Mark Carney, the frontrunner to become Canada’s next prime minister, has vowed to stand firm against US President Donald Trump’s newly announced 25% tariffs on Canadian goods, stating, “We’re not going to back down.”
In an exclusive interview with BBC Newsnight, Carney, 59, said Canada would match the US tariffs “dollar for dollar” and warned that Trump’s actions would damage America’s global reputation, slow economic growth, and raise inflation.
“This is the second time in less than a decade that the US has ripped up a trade agreement with its closest ally,” said Carney, the former Bank of England governor.
Outgoing Prime Minister Justin Trudeau has also promised a “forceful and immediate” response to the tariffs, which take effect on February 18. While Trump reduced tariffs on Canadian oil to 10%, he also imposed a 25% tariff on Mexican imports and 10% on Chinese goods, hinting at future levies on the European Union.
Carney is leading the race to replace Trudeau as head of the Liberal Party, with the leadership contest set to conclude on March 9. Canada must hold a federal election by October 20, with the Liberals currently trailing their Conservative rivals in the polls.
