Canada Central Bank Head Declares 'Rules-Based Trade With US Is Over' Amid Trump Tariff Threat
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News18•28-01-2026, 22:24
Canada Central Bank Head Declares 'Rules-Based Trade With US Is Over' Amid Trump Tariff Threat
- •Bank of Canada Governor Tiff Macklem stated that the era of open, rules-based trade with the United States has ended.
- •His comments follow former Bank of Canada Governor Mark Carney's warning of a lasting 'rupture' in the global economic order due to US President Donald Trump's leadership.
- •The Bank of Canada maintained its key lending rate at 2.25%, citing vulnerability to unpredictable US trade policies and ongoing uncertainty.
- •The central bank warned that US protectionism has caused a 'structural change' in Canada's economy, with recent threats of 100% tariffs on Canadian goods.
- •Despite threats, over 85% of bilateral trade remains tariff-free under the USMCA, which faces a crucial review soon.
Why It Matters: Canada's central bank head asserts the end of rules-based trade with the US, citing Trump's tariff threats.
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