Canadian Prime Minister Mark Carney has confirmed that he will head to the White House next Tuesday, May 6th, for his first face-to-face meeting with U.S. President Donald Trump.

This highly anticipated meeting is expected to focus on the "trade war" initiated by Trump against Canada, and both sides may conduct preliminary discussions on reconstructing the bilateral trade and security framework.

Image source: Inside the Village

"Canada Can No Longer Fantasize About Returning to the Past"

In a press conference this Friday, Carney avoided revealing specific strategies for dealing with Trump. However, last week during an interview with the Inside the Village podcast, he discussed some overall ideas.

"I often say we cannot change President Trump. He's 78 years old, and his mindset is very stubborn," Carney said frankly, reiterating his view: "The trade relationship between Canada and the United States has changed, and it is impossible to return to the past."

"Although the president has hit the brakes and tried to turn around," he said, "the question is: how deeply do we want to integrate with the United States? To what extent do we want to rely on trade with the United States? Because there are opportunities as well as significant risks, right?"

"I think we need to face reality: the past approach has ended." Carney said, "If we still sit here fantasizing: 'Oh, once we negotiate, everything will go back to normal'—it won't. The president has taken these actions, and from the broader perspective of American business circles, he has received much support."

He added, "This is the second time in several years that the United States has unilaterally torn up our trade agreement, and their mindset has completely changed."

Carney's Strategic Shift: Focus on Domestic Affairs and Multilateral Trade Instead of "Catering to Trump"

Carney stated that he would not focus primarily on "catering to" Trump but instead concentrate on strengthening the domestic economic foundation while expanding trade ties with other countries. He explicitly highlighted two key directions:

  • Accelerate national housing construction
  • Prioritize the procurement of Canadian-made materials in military purchasing projects

"I often emphasize this point, but I need to stress it again: What we can give ourselves is far more than what the United States can take away," Carney said. "We are fully capable of offsetting the impact caused by Trump's tariffs."

"As long as we are strong domestically, have a clear economic strategy, we can confidently say 'no' at the negotiating table."

"I understand him (Trump) and know his negotiation style. His initial offer is bound to be a bad deal, and we will not hesitate to reject it."

Strong Recovery of the Canadian Dollar, Surging to a 7-Month High

With Carney's announcement on Friday about his upcoming visit to the U.S., the market generally interpreted it as a potential thaw in Canada-U.S. trade relations, boosting investor confidence and strengthening the Canadian dollar, which rose to its highest level in nearly seven months.

By Friday, the Canadian dollar appreciated by 0.4% against the U.S. dollar, closing at 1 USD = 1.38 CAD (or 1 CAD = 72.46 cents), reaching its highest level since October 17th of last year. The cumulative gain for the week was also 0.4%.

Source link:

  • https://www.burlingtontoday.com/insidethevillage/i-know-the-way-he-negotiates-on-our-podcast-carney-hinted-at-his-trump-strategy-10583984

Original article: https://www.toutiao.com/article/7500386332477555219/

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