Mark Carney

Money Moves

Leading Canada's trade diversification strategy

Sixteen months ago, Canada and India had no ambassadors in each other's capitals. Ottawa had accused New Delhi of orchestrating the assassination of a Canadian citizen on Canadian soil, and both countries expelled six of each other's diplomats in a single day. On March 2, 2026, Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi signed five agreements worth $5.5 billion, launched free trade negotiations, and set a target of increasing bilateral trade from $9 billion to $50 billion by 2030.

Updated Mar 2

Force in Play

Leading federal response

Canada had not experienced a school shooting of this magnitude in 37 years. On February 10, 2026, an 18-year-old former student killed two family members at a home in Tumbler Ridge, British Columbia, then attacked the local secondary school, leaving nine people dead including the shooter and 27 wounded. Police arrived within two minutes of the first call; by then, the attack was already over.

Updated Feb 11

Rule Changes

Leading minority government; managing tariff response

For three decades, the United States and Canada operated under free trade agreements that made their border the world's busiest commercial crossing, with nearly $2.7 billion in goods flowing between them daily. That era ended on February 1, 2025, when President Trump imposed 25% tariffs on Canadian goods. One year later, America's effective tariff rate has climbed to 16.9%—the highest since the Smoot-Hawley Tariff Act deepened the Great Depression in 1932.

Updated Jan 31

Rule Changes

Leading trade diversification strategy

Canada followed the U.S. in imposing 100% tariffs on Chinese electric vehicles in October 2024. Seventeen months later, Prime Minister Mark Carney flew to Beijing and cut them to 6.1%—the first explicit break with American trade policy since Trump began his tariff offensive. The deal allows 49,000 Chinese EVs into Canada annually in exchange for China slashing canola tariffs from 84% to 15%, unlocking $3 billion in agricultural exports. The quota rises to 70,000 vehicles over five years, with half reserved for models under $35,000 CAD by 2030. Chinese automakers BYD and Chery have already met with Canadian officials about building production facilities on Canadian soil.

Updated Jan 31

Money Moves

In office, navigating U.S. pressure over China trade

China posted a $1.2 trillion trade surplus for 2025—the largest any country has ever recorded. The number is roughly equivalent to the GDP of Indonesia, the world's 16th-largest economy. It comes after seven years of U.S. tariffs designed to shrink that very surplus, and eight days after Canada struck a deal with Beijing that slashed Chinese EV tariffs from 100% to 6.1%, marking a dramatic shift in Western trade policy toward China that prompted Trump to threaten 100% retaliatory tariffs on Canadian goods.

Updated Jan 30

Rule Changes

Delivered keynote declaring end of rules-based order

The World Economic Forum has convened annually in Davos for 55 years. This year's gathering—the first without founder Klaus Schwab—transformed into an emergency diplomatic summit when Trump's tariff threats over Greenland collided with record attendance from 60+ heads of state. By week's end, a NATO 'framework deal' had defused the immediate crisis, while Canadian PM Mark Carney delivered a declaration that European and middle-power leaders openly applauded: the U.S.-led rules-based order is over.

Updated Jan 23