Canadian Prime Minister Mark Carney has described U.S. President Donald Trump’s decision to pause global tariffs as a “welcome reprieve” and announced that Canada will begin talks with Washington on a new economic agreement following the upcoming federal election.
After days of market turbulence, Trump unexpectedly announced on Wednesday a 90-day suspension of tariffs on most countries—excluding China. The move brought some relief to global markets, which have been rattled by the escalating trade war.
Carney, who took office last month after succeeding Justin Trudeau, reacted on social media platform X, calling the pause “a welcome reprieve for the global economy.” He added that Canada and the U.S. will “commence negotiations on a new economic and security relationship immediately following the Federal election” scheduled for April 28.
While Canada was largely exempted from this latest round of U.S. tariffs, it has already been impacted by earlier American duties on steel, aluminum, and automobiles. In response, Canada began enforcing its own 25% tariff on certain U.S. auto exports as of Wednesday—a retaliatory measure announced last week.
Although Trump suggested trade deals could be struck with every country, Carney warned that such a move might trigger “a fundamental restructuring of the global trading system.” He stressed the need for Canada to strengthen ties with like-minded trading partners that support “the free and open exchange of goods, services, and ideas.”
Carney’s Liberal Party is widely expected to win the upcoming election. Though the Liberals had trailed in earlier polls, their firm stance against Trump’s aggressive trade policies has helped them regain ground, contrasting with the opposition Conservatives, who are seen as more conciliatory toward the U.S. president.
