BARBER: Carney’s folly means Canada misses out as global trade realigns

A few days ago, President Trump and President Ursula von der Leyen met in Scotland to announce that the EU and the US had reached a trade agreement. The three largest economies in the EU — Germany, France, and Italy — are included in this landmark deal.With the EU, the UK, and Japan working alongside the US, these nations have made major progress in reshaping global trade. Other countries will soon follow suit.What about Canada? The Liberal Party was desperate to remove Justin Trudeau as prime minister because the majority of Canadians no longer supported him, and the poll numbers for the party were very low. However, the Liberal Party could not successfully run on its decade-long record, because its policies had decreased the quality of life for Canadians.Instead, they decided to promote Mark Carney, a backroom advisor and globalist with strong ties to the World Economic Forum and United Nations environmental programs, and to build a wave of resentment toward the US..In other words, the Liberals aimed to campaign against Trump, focusing on his proposed tariffs.As prime minister, Carney’s rhetoric includes strongly worded statements opposing US tariffs and Trump policies while supporting the globalist status quo.Of course, this stance disregards Canada’s own tariffs on goods from the US and other countries. He has called the US imposition of tariffs a “crisis” and a “fundamental change to the international trading system,” for example..At the recent G7 summit in Alberta's Kananaskis Country, Prime Minister Carney invited non-G7 leaders from India, Brazil, South Africa, and Mexico.However, the first three of these countries are BRICS members. (BRICS is an international grouping that seeks to replace US world economic hegemony with a multipolar world order.) As BRICS members are not G7 members, Prime Minister Carney thereby signalled a broader network of countries that may support his efforts.This move can only be interpreted as a subtle rebuke to Trump, though he avoided direct confrontation on trade issues at the summit..Part of Canada’s plan involves working closely with the EU on trade. To this end, Canada is considering purchasing Eurofighter jets as part of the EU’s ReArm Europe Initiative. Fighter jets are big-ticket items, and by purchasing them from the US, Canada could have reduced the trade imbalance highlighted by President Trump, potentially strengthening Canada’s position in trade negotiations with the US.Not that purchasing jets from the EU has inspired its leaders to prioritize Canada in negotiations with the US.But, why would we expect them to? When Germany faced a bleak winter after the Nord Stream pipeline was blown up, it sought petroleum products — from Canada. But Canada declined to assist Germany’s chancellor.Since 2017, Canada and the EU have had a trade agreement, the Comprehensive Economic and Trade Agreement (CETA). Although this agreement has benefited Canada in certain sectors, it has not reduced European trade volumes with the US. This leaves Canada vulnerable to trade challenges from the US and with limited leverage in negotiations. In addition to securing lower tariffs, the EU agreed to purchase US $750 billion in American LNG and other petroleum products — the product for which then-prime minister Trudeau said there was "no business case."This will reduce exports of similar products from Canada.All this could have been avoided if Canada had developed its resources and export capabilities more effectively. The prime minister’s strong rhetoric and posturing have not prevented Canada from undermining its own interests, as European partners prioritize European goals at the cost of Canada’s negotiating leverage. The prime minister’s misguided trade strategy is wrong-headed and has caused the people of Canada to bear the consequences.

BARBER: Carney’s folly means Canada misses out as global trade realigns

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