Former Bank of Canada governor Mark Carney has confirmed that Canada is ready to restart trade negotiations with the United States “as soon as Washington is prepared.” His statement comes amid growing discussions around rebuilding North American economic cooperation, particularly in light of shifting global trade dynamics and U.S. election-year uncertainty.
Carney’s Call for Renewed Dialogue
Speaking during a policy forum in Toronto, Carney emphasized that Canada remains open and optimistic about reviving trade talks with its southern neighbor. “The United States is our largest trading partner. When they’re ready to re-engage, we’ll be ready too,” he said.
He noted that despite political tensions and economic disruptions in recent years, the U.S.–Canada trade relationship remains one of the most successful in the world, supporting millions of jobs across both countries.
Carney’s remarks appear aimed at encouraging Washington to move past protectionist barriers and resume discussions on long-term trade stability.
“It’s not just about trade; it’s about shared growth,” Carney said. “Canada and the U.S. have built decades of prosperity together. There’s no reason that cooperation can’t continue.”
Background: Trade Tensions and Economic Priorities
Trade relations between Canada and the U.S. have seen ups and downs over the past decade. While the U.S.–Mexico–Canada Agreement (USMCA) replaced NAFTA in 2020, several trade disputes — including those over lumber, dairy products, and electric vehicle incentives — have continued to strain relations.
Carney’s comments suggest that Canada is seeking to strengthen its role as a stable and reliable partner amid global economic uncertainty. With major economies focusing on supply chain resilience and sustainable energy transition, both nations have mutual interests in areas such as clean technology, critical minerals, and green manufacturing.
A Shift in Economic Strategy
Carney, who has long advocated for sustainable growth and climate-friendly investment, hinted that any renewed trade dialogue should reflect modern priorities. He proposed that future agreements between Canada and the U.S. should include climate goals, labor protections, and technology innovation as central elements.
“The next phase of trade must be about more than goods crossing borders,” Carney explained. “It should build a foundation for clean growth and fair opportunity.”
Analysts say this message aligns closely with both Canada’s green transition goals and ongoing discussions in Washington about balancing trade with environmental accountability.
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The U.S. Response and Next Steps
So far, the U.S. administration has not made a formal response to Carney’s remarks. However, some officials in Washington have hinted that revisiting certain trade frameworks could be on the table after the 2025 election cycle.
Observers believe that issues like supply chain security, North American energy cooperation, and semiconductor manufacturing could drive the next round of discussions.
Meanwhile, business leaders on both sides of the border are urging governments to act quickly. The Canadian Chamber of Commerce recently stated that renewed trade talks could unlock billions in cross-border investment and strengthen North America’s global competitiveness.
A Positive Signal for Bilateral Relations
Carney’s comments are being seen as a diplomatic green light — signaling Canada’s readiness to work with the next U.S. administration, regardless of political leadership. Many experts believe that his involvement, given his global economic reputation, could help create a more collaborative tone in future negotiations.
For now, Canada appears to be playing the long game, waiting for a moment when Washington’s political climate is more stable and open to partnership.
“When the U.S. is ready, we’ll be at the table,” Carney concluded. “Because that’s what good neighbors do.”