Canadian PM Mark Carney Declares No Advance Response on Retaliatory Tariffs Before August 19
With less than a month until the proposed 50% tariffs by U.S. President Donald Trump take effect, Canadian Prime Minister Mark Carney has stated that Canada will not retaliate preemptively. Instead, he emphasized the importance of continuing negotiations with the U.S. Carney described any advance response as “counterproductive” and confirmed that Canada is intensifying efforts to secure a comprehensive trade agreement.
Carney made these remarks following a meeting with Canada’s premiers and territorial leaders in Charlottetown, Prince Edward Island. He indicated that Canada would only consider a response if the U.S. follows through on its tariff threat. “We don’t need to respond in advance,” Carney said, adding that all options remain on the table should the tariffs be imposed.
US Imposes Tariffs on Canada
The tariffs, announced by Trump earlier this week, target a wide range of Canadian exports, including honey, liquor, cement, dairy products, and hockey sticks. Notably, energy products and critical minerals are excluded from the tariffs, but the measures will affect goods previously protected under the United States-Mexico-Canada Agreement (USMCA). The 2020 trade pact was not renewed by the U.S., leading to ongoing negotiations that could extend until 2036.
Canada Will Do Whatever It Takes
Carney suggested that the tariff threats might be part of a broader negotiating strategy by the U.S. He noted that previous trade negotiations often included a deadline and associated tariffs. While discussions with Washington continue, Carney stated that Canada is also focused on reducing its reliance on the U.S. market by strengthening its domestic economy and expanding trade with other countries.
“In all circumstances, irrespective of the outcome of these negotiations, Canada will do whatever it takes to build our strength at home,” Carney said. He emphasized the need for a united approach among Canada’s provinces, as highlighted by Prince Edward Island Premier Rob Lantz. Ontario Premier Doug Ford called for a more aggressive negotiating stance, stating, “We need a strong plan.”
An analysis by Desjardins estimated that the proposed tariffs could impact approximately 28 billion Canadian dollars (about $19.8 billion) worth of annual Canadian exports to the U.S., representing roughly 5% of all goods imported by the U.S. from Canada. The report identified Ontario, Quebec, and British Columbia as the provinces likely to be most affected. Carney stressed the importance of trust in any potential trade agreement with the Trump administration, stating that confidence in the deal would be crucial.
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