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
Top 3 Price Prediction: Bitcoin, Ethereum, Ripple – BTC, ETH and XRP await US NFP for next directional moveBitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their weekly gains on Friday as traders await the US Nonfarm Payrolls (NFP) report for the next directional catalyst.
Author  FXStreet
10 hours ago
Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) extend their weekly gains on Friday as traders await the US Nonfarm Payrolls (NFP) report for the next directional catalyst.
placeholder
Yen hits one-month high on BOJ September-hike bets; AUD/JPY cracks support as carry unwindsUSD/JPY has tumbled from the 160 area to a one-month low near 155.2 in two sessions as Bank of Japan hike bets for the Sept 17-18 meeting intensify. AUD/JPY has broken below 112.7, flagging carry-trade stress. A test of 155.21 - and then 153 - is now in focus.
Author  Suzie
14 hours ago
USD/JPY has tumbled from the 160 area to a one-month low near 155.2 in two sessions as Bank of Japan hike bets for the Sept 17-18 meeting intensify. AUD/JPY has broken below 112.7, flagging carry-trade stress. A test of 155.21 - and then 153 - is now in focus.
placeholder
Gold rebounds above $4,450 as Waller tempers Fed rate hike bets ahead US jobs dataGold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday. 
Author  FXStreet
19 hours ago
Gold price (XAU/USD) gains momentum to around $4,470 during the early Asian session on Friday. The precious metal extended its recovery as Federal Reserve (Fed) rate hike bets ease. All eyes will be on the US August Nonfarm Payrolls (NFP) report, which is due later on Friday. 
placeholder
Gold rebounds past $4,400 as rate-hike odds cool ahead of NFPGold is back above $4,400 after weak ADP data cut September rate-hike odds to ~58%. XAU/USD rebounded from Wednesday's $4,282 low; Friday's NFP is the next catalyst.
Author  Irene Q.
Yesterday 09: 21
Gold is back above $4,400 after weak ADP data cut September rate-hike odds to ~58%. XAU/USD rebounded from Wednesday's $4,282 low; Friday's NFP is the next catalyst.
placeholder
US August Nonfarm Payrolls Preview: Will the Labor Market Quell Fed Rate Hike Expectations? US Stocks, Dollar, and Gold Face Key TestThe U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 a.m. ET on September 4. Following hawkish signals delivered by Fed Chair Warsh at Jackson Hole
Author  TradingKey
Yesterday 08: 32
The U.S. Bureau of Labor Statistics will release the August nonfarm payrolls report at 8:30 a.m. ET on September 4. Following hawkish signals delivered by Fed Chair Warsh at Jackson Hole
goTop
quote