Canada Says It Will Outlast U.S. Trade Tariffs Through 2029
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Prime Minister Mark Carney says Canada will keep resisting Washington’s punishing tariff regime and refuse a deal that undermines Canadian interests, even as the economic damage lands unevenly across workers and industries.
Prime Minister Mark Carney told Politico that Canada intends to keep its trade approach with the United States until 2029 rather than cave to a deal he says does not serve Canadian interests. He said each month the country grows stronger and its options increase, framing the standoff as a test of national resolve against U.S. economic pressure.
The Bank of Canada reports that the 50 percent tariffs on about CAD$27.6 billion of Canadian-made goods have pushed the average U.S. tariff to 7.5 percent, up from near zero. While the economy is still holding together, the higher duties have cut steel exports to the United States by half and slowed investment and production in the auto, steel and aluminum sectors, all of which depend heavily on U.S. demand and are bearing the brunt of this trade assault.
"Every month that goes by, Canada grows stronger," Carney said.
Analysts note that employment growth remains weak in those industries most affected by the tariffs, underscoring the unequal and socially costly impact of the trade measures.