Financial Network April 10th, by Editor Huang Junzhi - Canadian Prime Minister Carney (Mark Carney) said on Wednesday that new negotiations on "US-Canada economic and security relations" will be launched with US President Trump, which will begin after the Canadian general election.
Carney posted on the social media platform X: "President Trump has announced a suspension of reciprocal tariffs, which is a welcome respite for the global economy."
"As President Trump and I have agreed, the President of the United States and the Canadian Prime Minister will immediately begin negotiations on a new economic and security relationship after the federal election," he added.
Last month at the end of March, newly appointed Carney requested the dissolution of parliament from Governor Mary Simon and was approved, thereby initiating the federal election ahead of schedule, i.e., the federal parliamentary election. According to the shortest campaign period stipulated in the Canadian electoral law, the election voting day is set for April 28th this year.
In the first few months of Trump's presidency, trade tensions erupted between the US and Canada, making what was once a friendly relationship tense. Both Carney and his predecessor, former Prime Minister Justin Trudeau, criticized Trump over the tariff issue.
Carney stated when he was sworn in as the 24th Prime Minister of Canada that he would succeed former Prime Minister Trudeau to confront Trump's tariff war. Last Wednesday, he also said that the Canadian government would counter Trump's car tariffs and provide support for affected workers.
"We will counter these tariffs with retaliatory measures. We will protect our workers. In a crisis, it is crucial to unite and take action with purpose and strength," he added.
However, Trump's attitude underwent a major reversal on Wednesday: He announced that he had authorized a 90-day suspension of tariffs for countries that do not retaliate. During this period, he will significantly reduce reciprocal tariffs to 10%, and the suspension measures will take effect immediately. However, this tariff suspension does not involve the 25% tariffs that the US imposes on Canada and Mexico.
Carney commented in the aforementioned post: "As part of today's statement, the president indicated that the US will conduct bilateral negotiations with some other countries. This may lead to a fundamental restructuring of the global trading system."
"In this context, Canada must continue to deepen its relations with trade partners who share our values, including the free and open exchange of goods, services, and ideas," he added.
(Financial Network, Huang Junzhi)
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