Mark Carney won the race to succeed Justin Trudeau as Canada’s prime minister. On Sunday, he announced that his administration would uphold retaliatory tariffs against the United States until it demonstrated respect for Canada.
In his inaugural speech as the newly elected leader of the ruling Liberal Party, Carney mentioned that forces seek to undermine the economy. He highlighted that U.S. President Donald Trump had imposed unjust tariffs on their products, exports, and means of livelihood.
“He’s attacking Canadian families, workers and businesses and we cannot let him succeed,” Carney said.
Carney defended the government’s retaliatory measures, explaining, “And my government will keep our tariffs on until the Americans show us respect and until they can join us in making credible and reliable commitments to free and fair trade.”
Addressing Trump’s public threats to annex Canada as the 51st U.S. state, Carney declared, “America is not Canada, and Canada never, ever will be part of America in any way, shape or form.”
Previously, Carney had dismissed Trump’s repeated statements about making Canada the 51st state “ridiculous and insulting,” comparing them to something “Voldemort would say,” a nod to the villain from J.K. Rowling’s Harry Potter series.
Carney brings extensive experience to his new role. He spent 13 years as an executive at Goldman Sachs Group, Inc., working in London, Tokyo, New York, and Toronto. In 2003, he became Deputy Governor of the Bank of Canada and was appointed Assistant Deputy Minister of Finance later that year. As Governor of the Bank of Canada in 2008, he led efforts to steer the country through the global financial crisis.
In 2013, Carney became the first non-Briton to serve as Governor of the Bank of England in its 300-year history. After stepping down in 2020, he became the UN Special Envoy on Climate Action and Finance.
