Canadian Prime Minister Mark Carney: We will fight the US tariffs with actions of our own

Source Fxstreet

Canadian Prime Minister Mark Carney cautioned markets that the Canadian government is both ready and willing to start retaliatory trade actions against US President Donald Trump. The White House is set to kick off a wide array of tariffs across the board that will enact sharp economic pain on both all of the US's foreign trading partners and US constituents at the same time. Governments across the globe are preparing, or have already begun enacting, targeted response tariffs that are already taking a bite out of regional budgets across the US.

During his statements, Canadian PM Carney highlighted that is remains unlikely the US will cave on proposed lumber tariffs specifically against Canada. However, the PM's statements highlighted a particular difficulty that has faced most of the US's trading partners since Donald Trump took up residence in the White House just 66 days ago: the Trump administration has done a terrible job of conveying its own messaging on tariffs, and nobody trying to do business with the US is actually clear on what President Trump wants.

Key highlights

Our response to these latest tariffs is to fight.

We will fight the US tariffs with retaliatory trade actions of our own.

It is clear that the United States is no longer a reliable partner.

It is possible that with comprehensive negotiations, we will be able to restore some trust with the United States.

Trump reached out on Wednesday night to schedule a call.

I will speak to Premiers on Friday as well as business and union leaders to develop a coordinated response to what Trump does on April

Nothing is off the table when it comes to defending our workers and our country.

The road ahead will be long. There is no silver bullet, there is no quick fix.

We will do everything in our power to protect our businesses.

The old relationship we had with the US, based on deepening integration of our economies and tight security and military cooperation, is over.

When Trump threatens us again, we will fight back. We will fight back with everything we have to get the best deal for Canada.

I will speak to Trump in the next day or two.

We have the best deal of a bad deal within what the Americans have proposed on auto tariffs.

We will respond next week when we know what the US is proposing.

It's possible some Canadian cabinet ministers could go to Washington next week for talks.

The US is likely to follow through with lumber tariffs.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changedRate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
Author  Irene Q.
Sep 23, Wed
Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.
placeholder
【Daily Brief】30-year Treasury tops 5.59%, S&P 500 slips to 7,670 and gold holds $4,180 — PCE lands tonightThe 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
Author  Suzie
Sep 30, Wed
The 30-year Treasury yield closed at 5.59%, its highest since June 2002, and the Dow fell 131.59 points to 51,349.92. US consumer confidence dropped to 81.9, a 12-year low, and JOLTS job openings fell to 7.1 million. August PCE and Q3 GDP both land at 8:30am ET tonight.
placeholder
Gold falls to near $4,150 as higher Treasury yields, oil prices outweigh softer PCE inflationGold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
Author  FXStreet
Oct 01, Thu
Gold price (XAU/USD) tumbles to near $4,150 during the early Asian session on Thursday, pressured by elevated US Treasury bond yields. Traders await the US September employment data for fresh impetus, which will be released later on Friday. 
placeholder
United States Dollar Index sits near March 2025 highs, above 102.00 ahead of US NFPThe US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
Author  FXStreet
22 hours ago
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, attracts buyers for the fifth straight day and climbs back above the 102.00 mark during the Asian session on Friday.
placeholder
WTI Price Forecast: Dips to $91.50 as Middle East jitters limit lossesWest Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
Author  FXStreet
18 hours ago
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
goTop
quote