Mark Carney’s been busy these past few months, hosting the G7, pursuing foreign trade pacts, and talking with Trump on the telephone. But instead of a reset, he’s had a summer of discontent, putting us back at square one with the Americans and facing a host of challenges for the fall.
After weeks of tariff tit-for-tat with Washington, including dropping the digital services tax , the Aug. 1 trade deal deadline came… and went. Instead of a deal, Trump whacked Canada with some of the highest general tariffs in the world. Steel and aluminum tariffs remain in effect. Carney then blinked on the big issue: in late August, he announced Ottawa would lift most of its retaliatory tariffs on U.S. goods, in hopes of reviving talks — and, no doubt, lowering consumer prices as recessio