Prime Minister Mark Carney: Why I Rejected Trump’s Trade Deal
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Prime Minister Mark Carney: Why I Rejected Trump’s Trade Deal
“So last evening, I instructed our negotiators to return to Ottawa. We cannot accept what they’ve offered, and we will not give what they’ve asked. Over the past year, the US has imposed a series of tariffs that violate its commitment under our agreement with them in Mexico, so-called CUSMA. The United States has continually changed the rationale for these actions, from fentanyl to taxes on US tech giants, to certification of US aircraft, to the sharing of tolls of a bridge that Canada built and paid for, to our dairy policy, to provincial decisions not to sell American alcohol during the trade war, to a television advertisement that quoted Ronald Reagan, to smoke from wildfires while they threatened our communities.”
https://thewalrus.ca/mark-carney-why-i-rejected-trumps-trade-deal/
#Canada #CUSMA #USA #Trump #Tariffs #TradeWar #ElbowsUp #CanadiansUnited
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Prime Minister Mark Carney: Why I Rejected Trump’s Trade Deal
“So last evening, I instructed our negotiators to return to Ottawa. We cannot accept what they’ve offered, and we will not give what they’ve asked. Over the past year, the US has imposed a series of tariffs that violate its commitment under our agreement with them in Mexico, so-called CUSMA. The United States has continually changed the rationale for these actions, from fentanyl to taxes on US tech giants, to certification of US aircraft, to the sharing of tolls of a bridge that Canada built and paid for, to our dairy policy, to provincial decisions not to sell American alcohol during the trade war, to a television advertisement that quoted Ronald Reagan, to smoke from wildfires while they threatened our communities.”
https://thewalrus.ca/mark-carney-why-i-rejected-trumps-trade-deal/
#Canada #CUSMA #USA #Trump #Tariffs #TradeWar #ElbowsUp #CanadiansUnited
“Another prominent justification for US tariffs has been their claim that since the [US] runs a “trade deficit” with Canada, we were “ripping them off.” But the US narrow merchandise trade deficit only exists because the US buys so much of its energy from Canada. Canada fuels American growth, supplying 99 percent of their natural gas imports, 85 percent of their electricity imports, 60 percent of their crude oil imports. I don’t think they want us to stop sending any of that energy.
And if you look more broadly at the comprehensive US–Canada trade balance… that shows a persistent American trade surplus. Most fundamentally, trade is about building mutual strength, creating a relationship that benefits both countries. For example, #Canada is the largest customer for US cars. In fact, we buy more American-built cars and trucks than the United Kingdom, Japan, and China combined. It’s the same for American steel products. Canada is also the largest customer for twenty-six US states…”
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“Another prominent justification for US tariffs has been their claim that since the [US] runs a “trade deficit” with Canada, we were “ripping them off.” But the US narrow merchandise trade deficit only exists because the US buys so much of its energy from Canada. Canada fuels American growth, supplying 99 percent of their natural gas imports, 85 percent of their electricity imports, 60 percent of their crude oil imports. I don’t think they want us to stop sending any of that energy.
And if you look more broadly at the comprehensive US–Canada trade balance… that shows a persistent American trade surplus. Most fundamentally, trade is about building mutual strength, creating a relationship that benefits both countries. For example, #Canada is the largest customer for US cars. In fact, we buy more American-built cars and trucks than the United Kingdom, Japan, and China combined. It’s the same for American steel products. Canada is also the largest customer for twenty-six US states…”
“Last year, Americans sold almost $600 billion in goods and services to Canadians. That’s more than $1.6 billion every single day. On the other hand, Canadian exports to the United States lower costs for American families. In contrast, tariffs are taxes, taxes which are ultimately paid by US consumers.”
[ *$600 Billion. Let’s bookmark this and compare in 12 months. Trump’s team can ask US alcohol producers and the hospitality industry how the attacks on Canada are working out for them. ]
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“Last year, Americans sold almost $600 billion in goods and services to Canadians. That’s more than $1.6 billion every single day. On the other hand, Canadian exports to the United States lower costs for American families. In contrast, tariffs are taxes, taxes which are ultimately paid by US consumers.”
[ *$600 Billion. Let’s bookmark this and compare in 12 months. Trump’s team can ask US alcohol producers and the hospitality industry how the attacks on Canada are working out for them. ]
“There were some things we wouldn’t do. We were not prepared to compromise Canada’s sovereignty or to undermine our key industries. We were not prepared to compromise on our sovereignty, the protection of the French language, or our culture. To be clear with our American colleagues, for my government and for Canada, these issues were never on the table, even though the United States pushed for them until the very last minute.
In recent weeks, there had been important progress made towards a possible agreement—an agreement that would have reinforced Canada’s position as having the best deal in the world with the United States…. And while we believed, earlier this week, that we were moving towards a mutually beneficial agreement, in recent days, the United States proposed new terms that were uneconomic, unfair, and undermined the net benefits for Canada and called into question the reliability of any deal. In short, they asked too much, and they offered too little.”
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“There were some things we wouldn’t do. We were not prepared to compromise Canada’s sovereignty or to undermine our key industries. We were not prepared to compromise on our sovereignty, the protection of the French language, or our culture. To be clear with our American colleagues, for my government and for Canada, these issues were never on the table, even though the United States pushed for them until the very last minute.
In recent weeks, there had been important progress made towards a possible agreement—an agreement that would have reinforced Canada’s position as having the best deal in the world with the United States…. And while we believed, earlier this week, that we were moving towards a mutually beneficial agreement, in recent days, the United States proposed new terms that were uneconomic, unfair, and undermined the net benefits for Canada and called into question the reliability of any deal. In short, they asked too much, and they offered too little.”
“More fundamentally, the cumulative effect of US demands revealed the limits of their commitment to a true economic partnership. As I said earlier, as a result, last evening I suspended trade negotiations with the United States and directed our negotiators to return to Ottawa. I want to thank Minister LeBlanc, our chief negotiator, Janice Charette, and their team—they’ve worked hard in good faith, right up to the last minute, to defend the interests of Canadians.
Now, Canada will match Washington’s new tariffs, dollar for dollar, in order to protect Canadian workers, farmers, families, and businesses. Our response will be concentrated in sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, electronics—also include products that are currently subject to unjustified Section 232 and 338 tariffs. This is a focused response to protect and defend our industries and allow them to compete with US products in the Canadian market.”
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