“Mark Carney vs. Trump: Can Canada’s New PM Win the Trade War?”
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The Mark Carney Ascension into Prime Minister of Canada as Trade Tensions are Upping with the U.S.
Ottawa, Canada-Former central banker Mark Carney was elected by a landslide to lead the governing Liberal Party of Canada with 85.9% of the vote. Carney, who is 59 years old, will take over from Prime Minister Justin Trudeau, who announced his resignation back in January.
Carney will probably call for a snap federal election in the next few days or weeks while Canada gears itself for a full-scale trade war with the U.S. The political scene is changing dramatically under the heavy threat of Donald Trump's tariffs and rising Canadian nationalism.Mark Carney’s Game Plan
Canada under new leadership is faced with the increasing threat of a U.S. trade war.
"We didn't ask for this fight. But Canadians are always ready when someone else drops the gloves," with, perhaps, a somewhat suggestive comparison of trade with hockey.Trade War Alert
In Carney's view, the retaliatory tariffs would remain until the U.S. "shows us respect," growing out of threats by Trump to slap tariffs on steel, aluminum, dairy, and so on. It has generated so much anger, with Canadians canceling U.S. trips, boycotting American goods, and, at times, actually booing the U.S. national anthem at different NHL and NBA games. Canada’s Future at Risk?
Trump had suggested that Canada could be the 51st state of the Union—this was likely to fan the flames of nationalism. "The Americans want our resources, our water, our land, our country," Carney said, "If they win, they will destroy our way of life."
Carney put the starkest possible contrast between Canada and the U.S.: universal healthcare in Canada vs. for-profit healthcare in the U.S. "America is a melting pot. Canada is a mosaic. We will never, ever be a part of America in any way, shape, or form."
Carney’s Proven Track Record in Economic Crises
While Carney lacks a significant amount of political experience, he is a most credible economic leader-who has been head of the Bank of Canada and the Bank of England through the last two major economic crises, namely the 2008 financial crisis and Brexit.The Battle for Canada’s Future
Carney's experience is also one big thing any US legislature can praise even across the aisle in the UK. Prior to his appointment speculation was rife that he would make a good finance minister for Canada, as both Justin Trudeau and former Conservative Prime Minister Stephen Harper had spoken highly of him in this regard.
A former Goldman Sachs executive, he worked in London, Tokyo, New York, and Toronto before taking an appointment with the Bank of Canada in 2003. He most recently was a special envoy for the United Nations on the matter of climate action and finance.U.S. vs. Canada
His chief rival for the Liberal leadership, ex-Deputy Prime Minister Chrystia Freeland, managed to gain only 8% of the vote. Freeland resigned after being dropped by Trudeau from the finance portfolio ahead of an excoriating letter to the government.
An election will soon be upon us, with rising support for the Liberals.
Trump's trade war has fueled Canadian nationalism and brought new life into Liberal support for a prospective federal election.
Carney can unfurl an election in the days ahead, or the opposition parties are able to take down the government through a no-confidence vote later on this month.Shocking Move
"Yes, this is a nation-defining moment," outgoing Prime Minister Trudeau said. "Democracy is not a given. Freedom is not a given. Even Canada is not a given."
With tensions at an all time high, Canada's upcoming election will revolve around that one question: Who will best stand up to the United States?
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