Ottawa/Washington – Former Bank of Canada governor Mark Carney is set to meet former U.S. President Donald Trump next week amid growing economic strain caused by a fresh wave of U.S. tariffs on Canadian goods. The high-stakes meeting comes at a time when trade tensions between the two countries are once again testing one of the world’s closest economic relationships.
According to sources familiar with the discussions, Carney will travel to Washington to hold private talks with Trump, focusing on the impact of the new tariffs and potential pathways to de-escalate the trade standoff. The measures, introduced earlier this month, target key sectors including steel, aluminum, and automotive components — industries that form the backbone of Canada’s manufacturing economy.
Carney, who has recently emerged as an influential voice in Canadian economic and political circles, is expected to emphasize the mutual costs of prolonged trade disputes and push for a more stable trade framework. “Both sides understand the stakes,” said one senior Canadian official. “This meeting is not just symbolic — it’s a serious attempt to find common ground before the damage deepens.”
The new tariffs have already begun to take a toll on Canadian businesses, with exporters reporting higher costs, disrupted supply chains, and mounting uncertainty. Economists warn that if the dispute continues, it could slow economic growth and lead to job losses in affected industries.
Trump, who has long criticized Canada’s trade policies, defended the tariffs as necessary to protect American workers and industries. “Canada has taken advantage of us for too long,” he said at a recent rally, vowing to keep economic pressure on Ottawa until a “fair deal” is reached.
The upcoming meeting is being closely watched in both capitals. For Ottawa, it represents an opportunity to ease tensions through dialogue rather than retaliatory measures. For Trump, it’s a chance to shape trade dynamics ahead of his political ambitions and reinforce his tough-on-trade stance.
Analysts say Carney’s background as a central banker and global economic figure could make him a credible intermediary in what has become a politically charged trade dispute. Whether the talks lead to meaningful breakthroughs remains to be seen, but both sides are under pressure to prevent the situation from escalating further.
The meeting is expected to take place in Washington early next week, with both parties likely to issue statements afterward outlining their respective positions.