Canada's prime ministerial contender Mark Carney has warned that his country will “stand up to a bully” in response to new tariffs imposed by US President Donald Trump.
In an exclusive interview with BBC Newsnight, the 59-year-old Liberal leadership contender pledged to “match dollar for dollar the US tariffs” after Trump announced a 25% levy on Canadian imports.
Carney is one of five candidates vying to succeed Justin Trudeau as leader of the governing Liberal Party, having secured the strongest backing from MPs.
The leadership race will conclude on 9 March, with the winner set to replace Trudeau, who announced his resignation in January after nine years in office.
A federal election must then be held by 20 October, with the Liberals currently trailing the opposition Conservatives in the polls.
Reacting to the tariffs, Carney declared, “President Trump probably thinks Canada will cave in. But we are going to stand up to a bully—we’re not going to back down. We’re united, and we will retaliate.”
The former Bank of England governor warned that the tariffs would “damage the US’s reputation around the world,” leading to slower growth, higher inflation, and rising interest rates.
“This is the second time in less than a decade that the US has, in effect, ripped up a trade agreement with its closest trading partner,” he added.
The tariffs—set at 25% for Canada and Mexico and 10% for China—came into effect on Saturday. Trump has also signalled his intention to impose similar measures on the European Union, accusing the bloc of unfair trading practices.
The outgoing prime minister, Justin Trudeau, condemned the move, promising a “forceful and immediate” response. Meanwhile, Trump has announced that Canadian oil imports will face a lower tariff of 10%, which will take effect on 18 February.
