The elevation of Mark Carney in the highest job in Canada is of particular importance at the moment when his country is on the front line of a trade war in North America. Becomes a “anti-trump” on the threshold of the US president.
Former Governor of England, England’s bank, decided to vigorously lean against Donald Trump’s policies in his accepting speech. He said that the US president brought “dark days” from “a country we could no longer believe” and that he was “proud” to Canadians who resisted the US in “their wallets.”
While in the store, Mr. Carney was particularly promised to retain the retaliation of the tariff “until Americans show us respect,” it was clear that general threats against Canadian sovereignty were equally important in his thinking.
Trump has repeatedly said he would use economic power to encourage Canada to become 51. The US state, but Carney returned. “Americans want our resources, our country, our water, our country … Canada will never be part of America in any way, a form or shape,” he said.
Behind the scenes, Carney encouraged a very strong response to Mr. Trump. As he told me last month in his only interview in the UK during his campaign for success in current Canadian Prime Minister Justin Trudeau, it was necessary “Get up to the abuser”.
He has ridiculed Trump’s allegations of the participation of Canada in the Fentanil trade and the proposal of the US president that Canada has been chased away by the United States. The Canadian trade deficit is caused by “fully” exporting subsidized oil, Carney told me and “maybe we should ask for that subsidy.”
This is followed by the footsteps of former Italian Prime Minister Maria Draghi as a former top central banker who became the leader of the G7. This is a rare path, but it can be a good moment when the closest neighbor of Canada suggested the use of economic power to take over.
Carney has experience in this area, dealt with numerous acute political-economic crises, such as the banking collision, the eurozone crisis, the Sterlin’s sharp slide after Brexit and the beginning of the pandemic.
He also regularly attended G20 meetings at the Leader level, including Trump’s presence, as chairman of the Financial Stability Committee, an international economic body. At one such meeting, Trump’s team threatened to leave the international monetary fund.
Carney believes Trump just respects power. From every attempt to pray Trump, he said “good luck with that.” It will focus on further tariff retaliation on increasing inflation and interest rates in the Canadian “South Neighbor”.
The Canadian elections reach October, but Carney could call the earlier. Depending on that, he is on his way to host Trump in Canada at the G7 Summit in June.
His climb to the top job raises roles for the UK. On the one hand, a more powerful approach to the Allied leader G7 is opposed to the attempt by the UK to carefully hug the White House.
Carney, on the other hand, also hinted that he wanted to diversify the trade according to “more reliable” partners, which would include the UK and the EU. Canada could send her subsidized energy to Europe, not the US.
The higher strategic point is that Carney’s background means focusing on international solidarity and defending the existing multilateral system. He says Canada can “stand on his feet”, but sees merit in creating a more coherent international alliance to focus on the minds of Congress and tariffs —- Creation in Trump’s administration.
The Canadian new leadership expects support from her allies of Commonwealth, the UK. After my recent conversation with him, Carney turned the camera to a portrait on the wall of the office from which he talked to me: King Charles. The message was clear. Canada and the UK should be on the same side of this time of the new world.
