Investing.com -- Canada's Prime Minister Mark Carney announced today that the country will retaliate against the latest U.S. tariffs with trade actions of its own. The Prime Minister's statements came during a press conference, where he expressed that the United States is no longer viewed as a reliable partner.
Carney stated that comprehensive negotiations may restore some trust with the United States. He also revealed that President Trump reached out on Wednesday to schedule a call.
Further discussions are expected with premiers, business, and union leaders on Friday to develop a coordinated response to U.S. actions, set to take effect on April 2. Carney is expected to speak to Trump in the next day or two.
The Prime Minister emphasized that nothing is off the table when it comes to defending Canada. He cautioned that the road ahead will be long, noting that there is no quick fix or silver bullet solution. He stated that the old relationship Canada had with the U.S., marked by deep economic integration and tight security and military cooperation, is over.
In response to any future threats from President Trump, the Carney assured that Canada will fight back with everything it has to secure the best deal for the country, though he admitted that Canada has the "best deal of a bad deal" within what the Americans have proposed on auto tariffs.
Carney closed mentioning that Canada will respond next week when it knows what the United States is proposing. It's possible that some Canadian cabinet ministers could travel to Washington next week for talks.
