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| Carney explains why Canada walked away from the trade deal |
It's been a long day that started this morning with Canadian Prime Minister Mark Carney addressing the nation about why the country walked away from negotiating a trade deal with the United States, and that it's time to buckle up for a trade war.
"We cannot accept what they've offered, and we will not give what they've asked," he said, adding the US 'asked too much and offered too little.'
Carney also revealed the US had issues with Canada's subsidies for French culture, the prevalence of French-language media online and even the federal requirement to have bilingual labels on products sold in Canada.
"It was unacceptable right from the start, but the Americans kept trying and trying and we said no," the prime minister said. "Ultimately it's simple. That was never on the table for Canada and it would not have been acceptable to Canadians."
For the auto industry, the Americans demanded to treat Canadian-made parts unfairly and to exempt some cars and pick-up trucks from US tariffs, but not others without any explanation.
The US also expected to determine Canada's trade deals with other nations.
"The US introduced, in the last hours, efforts to restrict our ability to have other trade deals," Carney said. "Because we believe in free trade, we're the partner of choice, in many respects, for countries around the world, and Americans wanted to restrict that, they had language to restrict that. Unacceptable."
Perhaps he was referring to Canada striking a trade deal with China worth $3 billion, where 49,000 Chinese electric vehicles will be allowed into the country, along with lower tariffs for canola oil, and seafood like lobsters and crabs into the Middle Kingdom.
But anyway -- why would Canada allow the US -- or rather Donald Trump -- decide who it trades with?
As Toronto Star columnist Justin Ling told CBC Radio today, what the US was doing was basically extortion.
Carney also noted that the US sometimes signs trade deals "in pencil," a hint that it is negotiating in bad faith.
Despite the financial hardships that will come -- layoffs and more money flowing out of wallets -- Canadians seem to be more patriotic than ever. The slogan "Elbows Up" continues to resonate across the country, with all politicians, federally and provincially on board.
As British Columbia Premier David Eby said today, "There is no question that there will be economic pain associated with this, there already is," he said. "But it is necessary to stand up to a bully, and if you don't, they'll just keep coming back for more."
Interestingly, Trump hasn't responded at all to the trade deal collapse. Did he think he had it in the bag?
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