Carney says Trump's multiple objectives demand ‘nimble' trade talk strategy
'When the person you're dealing with, the country you're dealing with has multiple objectives, jumps around a bit and you've got to be nimble,' Carney told Global News' Joel Senick in a one-on-one interview at the Calgary Stampede.
Carney said from his perspective, U.S. President Donald Trump is juggling several factors, ranging from China to trade to the country's overall finances.
'Some of it's strategic competition with China. Sometimes it's just whether or not they can have a trade balance,' he said. 'Some of it's about revenue, for their budget, and of course it's jobs for workers, (and) also issues around the border.'
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The prime minister's comments come only a few days after trade talks restarted between the two countries following Trump's brief termination over Canada's digital services tax, which the federal government announced last Sunday it had been rescinded.
On Monday, Carney told reporters rescinding the tax was part of a 'bigger negotiation,' though he did not elaborate or say if Canada had received anything in exchange.
U.S. Commerce Secretary Howard Lutnick said the tax would have been a 'deal breaker' for any trade deal and that he appreciated the removal by Canada.
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Questioned on the removal of the tax on Saturday, Carney said it also happened at 'basically the same time' as a series of other taxes being taken off the table by other countries as part of a broader G7 plan.
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He did not specify what taxes, but following the G7 summit in Kananaskis, Alta., Canada's Department of Finance announced the G7 had agreed the U.S. would be exempt from applying a 15 per cent minimum corporate tax rate.
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The move appeared to be a counter to U.S. plans to apply a so-called 'revenge' tax on other countries that would impose taxes on companies with foreign owners, as well as investors from countries judged as charging 'unfair foreign taxes' on U.S. companies.
Pressed further on how Carney is approaching negotiations with Trump, the prime minister said the 'best thing in a negotiation' is that people know what the other party is trying to achieve.
'We're looking out for the jobs of Canadians not just today, but in the longer term and making it clear to the president, but also Americans that there's tremendous opportunity for us working together,' Carney said.
The two countries set a goal at the end of the G7 to reach a deal within 30 days, specifically July 21, a date that remained in place even after the brief disruption earlier this week.
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But as negotiations continue, it also provides a 'tremendous opportunity' for Canadians to build together — a sentiment Carney has repeated multiple times, including during the federal election campaign.
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'Whether it's building conventional energy, pipelines to tidewater, whether it's building SMR (small modular) reactors, building artificial intelligence, life sciences, all these things, we can give ourselves far more than any trading relationship, even a trading relationship with the United States,' he said.
Building has been a key element for the federal government, with its major projects bill becoming law last week.
Bill C-5, which gives Ottawa the power to fast-track projects intended to boost the national economy by sidestepping environmental protections and other legislation, also includes efforts to reduce federal barriers to internal trade. The goal under the bill is to approve such projects within two years.
Trump and Carney's goal of reaching a deal by July 21 is swiftly approaching, and while he spoke about the objectives Trump has with his trade talks, the prime minister said they're looking at two things to help Canadian workers and the economy in those discussions.
'The first is, of course, access to the U.S. market, access we have as closely as possible as we do have today under current trading arrangements. It won't be exactly the same but as close as possible,' he said. 'But also stability; stability and greater certainty. That's worth a lot, because that anchor will help us decide which projects we're going to do as a country and how we're going to move forward.'
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—with files from Global News' Joel Senick
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