Source Mint
Ottawa: Former Bank of Canada governor Mark Carney on Saturday called for a renewed focus on a “Buy Canadian” strategy after former U.S. president Donald Trump threatened to impose a sweeping 100 per cent tariff on imports, reigniting fears of a major trade confrontation.
Speaking at a public event, Carney said Canada must concentrate on strengthening its domestic economy and reducing vulnerabilities to external political shocks. “We will focus on what we can control,” he said, underscoring the need to boost Canadian manufacturing, supply chains and consumer confidence at home.
Trump, who is seeking a return to the White House, has warned of imposing steep tariffs on countries he accuses of engaging in unfair trade practices, including close allies. His remarks have raised concerns in Canada, where the United States remains the largest trading partner and a key destination for exports.
Carney noted that while Canada cannot dictate U.S. trade policy, it can take steps to protect its own economic interests. He urged businesses, policymakers and consumers to prioritize Canadian-made goods, invest in domestic industries and support innovation to ensure long-term resilience.
Economists warn that a 100 per cent tariff, if implemented, could severely disrupt cross-border trade, increase prices for consumers and hurt export-dependent sectors such as automotive manufacturing, energy and agriculture. However, Carney argued that the uncertainty also presents an opportunity for Canada to diversify trade and deepen internal economic links.
The “Buy Canadian” push echoes similar campaigns launched during past trade disputes, particularly during the previous Trump administration, when tariffs on steel and aluminum strained relations between the two neighbors.
Carney concluded by stressing that economic sovereignty and stability should remain central to Canada’s strategy amid an increasingly unpredictable global trade environment.
