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Remember when Mark Carney was sold to Canadians as the ultimate “steady hand on the wheel”? The world-class banking brain who could glide into a meeting with global leaders and walk out with the perfect deal? Yeah, turns out his big debut on the world stage went about as well as ordering poutine in Paris — soggy fries and all.
Carney’s failure to cut a trade deal with Donald Trump has left Canada dead last in the global negotiation sweepstakes... and now even countries still “in talks” are getting better treatment than us. But first a word from our sponsor:
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How Everyone Else Got a Deal
Let’s put it in plain terms:
UK: Scored a deal cutting car import tariffs to 10%, plus reduced tariffs on steel, aluminum, aerospace, and more.
Europe: Secured 15% tariffs, contingent on investing $600 billion in the U.S. economy.
Japan: Matched Europe with 15% tariffs and committed $550 billion in investments in U.S. sectors like semiconductors and pharmaceuticals.
Mexico: Got a 90-day grace period before tariffs could escalate from 25%.
China & India: Still in talks, but no such punitive tariffs imposed yet.
Canada: Slammed with 35% tariffs on numerous exports, no grace period, no investment deal, no roadmap — just silence from Washington.
The August 1 Deadline Came and Went
While others scrambled or compromised, Canada blew the deadline without an agreement. Trump, as expected, raised tariffs to 35% on Canadian goods outside the Canada-U.S.-Mexico Agreement (CUSMA). Prime Minister Carney called the tariff hike “disappointing” but doubled down on commitment to CUSMA and efforts to protect affected industries like lumber, steel, and autos.
Meanwhile, critics from the political right charged Carney with weakness and failure to protect Canadian workers and exporters. Conservative Leader Pierre Poilievre demanded stronger action to restore the zero-tariff status Canada once enjoyed.
Carney’s Soft Response: Blinking First
Instead of pushing back firmly, Carney hinted he might reduce some Canadian tariffs on U.S. goods to ease tensions — a move characterized by many as Canada blinking first in a trade war that hasn't even properly begun.
Rebel News and right-wing commentators slammed Carney for negotiating from a position of weakness, while Toronto Sun’s Brian Lilley said Carney “misread Trump completely” and left Canada “without leverage, without respect, and without a deal.”
Diplomatic Fallout and Mexico Fallout
Adding insult to injury, Canada’s relationship with Mexico, an essential partner in the trilateral trade deal, suffered under Carney’s watch. After Trudeau’s surprise outreach to Trump alone, Mexico’s officials felt sidelined and cool relations stalled cooperation. Mexico enjoys a tariff grace period, further isolating Canada in negotiations.
What This Means for Canadians
This isn’t politics as usual — this means higher costs:
Canadian exporters are hit hardest, facing tariffs far above those endured by allies.
Farmers and manufacturers warn of layoffs and lost markets.
Everyday consumers can expect price hikes on goods from lumber to cars.
Buyer’s Remorse in High Definition
Carney came in promising technocratic mastery, deft diplomacy, and steady economic stewardship. Instead, he managed to deliver an embarrassing historic setback—Canada now paying the highest tariffs among key U.S. trading partners during a period of volatile, unpredictable U.S. trade policy under Trump.
As frustrations mount across political lines, one thing is clear: the honeymoon is over, and “buyer’s remorse” is the new national mood.
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