Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Carney stresses Canada will never be for sale in first meeting with Trump
    Headlines

    Carney stresses Canada will never be for sale in first meeting with Trump

    Carney stresses Canada will never be for sale in first meeting with Trump

    Published by Global Banking and Finance Review

    Posted on May 6, 2025

    Featured image for article about Headlines

    By David Ljunggren and Steve Holland

    WASHINGTON (Reuters) -Canadian Prime Minister Mark Carney visited the White House on Tuesday for his first talks with Donald Trump and bluntly told the U.S. president that Canada would never be for sale.

    Carney won the April 28 election on a promise to stand up to Trump, who has imposed tariffs on some Canadian products and often muses about annexing the country.

    Although Carney has repeatedly called these actions a betrayal, the two leaders showed little animosity during an opening session at the Oval Office where both men praised each other in front of reporters.

    Trump said the two sides would not be discussing Canada becoming part of the United States, but said it would be "a wonderful marriage."

    Carney put down the annexation idea firmly.

    "It's not for sale, it won't be for sale - ever," he said.

    "Never say never, never say never," Trump said.

    Trump, whose tariff policy has rattled world markets, had said he and Carney would discuss "tough points," an allusion to the president's belief that the United States can do without Canadian products, a point that he made at length during the Oval Office conversation.

    The meeting never appeared at risk of degenerating into the acrimonious exchanges that marked the Oval Office visit of Ukrainian President Volodymyr Zelenskiy in February. That encounter has served as a warning for other world leaders about the delicate dance they face in negotiating with Trump.

    "This is not going to be like we had another little blowup with somebody else," Trump said.

    "Regardless of anything, we're going to be friends with Canada. Canada is a very special place to me," he said, adding that the United States would always protect Canada.

    Carney's Liberal Party promised voters it would create a new bilateral economic and security relationship with Washington and diversify an economy heavily dependent on exports to the U.S.

    Ahead of the visit, Carney played down expectations of a breakthrough in the talks. Indeed, when Trump was asked if Carney could say anything to persuade him to lift tariffs, he replied, "No."

    Greg MacEachern, principal at lobby group KAN Strategies and a former adviser to the Liberal government in the early 2000s, gave Carney high marks for his handling of Trump.

    “I think Prime Minister Carney did what he needed to do, which was push back in a respectful Canadian way where he could without elevating the temperature and risking a rant that other world leaders have had to endure," he said.

    A senior Canadian government official said Carney's private lunch with Trump after the Oval Office meeting was constructive. Carney told Trump the tariffs did not make sense, but not in a confrontational way, the official said.

    TRADE DEAL IN FOCUS

    Carney's comments about a new economic relationship had cast into doubt the future of the U.S.-Mexico-Canada Agreement, which Trump signed during his first White House term but has distanced himself from. It is due to be reviewed in 2026.

    Carney steered clear of suggesting a major revamp, saying only that some things about the pact needed to be changed, while Trump described the agreement as fine and great for all countries.

    Trump had famously bad relations with Justin Trudeau, Carney's predecessor, and during the meeting criticized him and former Foreign Minister Chrystia Freeland for how they negotiated the USMCA.

    In a Truth Social Post just before the leaders met, Trump reiterated complaints about the trading relationship.

    "We don't need their cars, we don't need their energy, we don't need their lumber, we don't need anything they have, other than their friendship," Trump wrote.

    During the meeting, Trump reiterated complaints about what he called the huge U.S. deficit with Canada. Canada's merchandise trade surplus was C$102.3 billion ($74.25 billion) in 2024, due mostly to American imports of Canadian oil.

    Carney, a 60-year-old ex-central banker with no previous political experience, was elected Liberal leader in March to replace Trudeau.

    Canada is the U.S.' second-largest individual trading partner after Mexico, and the largest export market for U.S. goods. More than $760 billion in goods flowed between the two countries last year.

    Ahead of the meeting, the U.S. Commerce Department reported on Tuesday Canada's goods trade surplus with the U.S. narrowed to a five-month low in March, the month when Trump's hefty tariffs on imported steel and aluminum took effect. Canadian exports to the U.S. plunged by $3.7 billion, the second-largest drop on record.

    Trump in March imposed a 25% tariff on all steel and aluminum imports and then slapped another 25% tariff on cars and parts that did not comply with a North American free trade agreement.

    On Sunday, Trump said he would put a 100% tariff on all movies produced outside the U.S., without giving details, in a potential blow to Canada's film industry.

    (With additional reporting by Andrea Shalal, Jeff Mason and Doina Chiacu in Washington, Promit Mukherjee in Ottawa; Editing by Nia Williams and Rod Nickel)

    Related Posts
    Agentic AI race by British banks raises new risks for regulator
    Agentic AI race by British banks raises new risks for regulator
    Analysis-Australia's gun laws riddled with loopholes and workarounds, experts say
    Analysis-Australia's gun laws riddled with loopholes and workarounds, experts say
    EU to strengthen carbon levy on high-emission imports, crack down on attempts to dodge it
    EU to strengthen carbon levy on high-emission imports, crack down on attempts to dodge it
    Russia-China Far Eastern gas route construction progressing, China ambassador to Russia tells RIA
    Russia-China Far Eastern gas route construction progressing, China ambassador to Russia tells RIA
    Europe to vote on scheme to help abortion access
    Europe to vote on scheme to help abortion access
    Analysis-Pakistan's military chief Asim Munir in spotlight over Trump's Gaza plan
    Analysis-Pakistan's military chief Asim Munir in spotlight over Trump's Gaza plan
    Sydney mourners remember slain Rabbi at Bondi Beach funeral
    Sydney mourners remember slain Rabbi at Bondi Beach funeral
    UK to provide financial support to save its last ethylene plant
    UK to provide financial support to save its last ethylene plant
    Doctors in England begin five-day walkout during flu surge
    Doctors in England begin five-day walkout during flu surge
    Belarusian president calls for fast action on Ukraine war while US is engaged
    Belarusian president calls for fast action on Ukraine war while US is engaged
    Australian state to pass emergency gun laws as funerals of Bondi attack victims begin
    Australian state to pass emergency gun laws as funerals of Bondi attack victims begin
    Swift Anglo-Teck merger approval shows Canada's pro-business shift, dealmakers say   
    Swift Anglo-Teck merger approval shows Canada's pro-business shift, dealmakers say   

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Headlines PostM&A deal signing hits 20 year-low after Trump's 'Liberation Day'
    Next Headlines PostUK may restrict students from countries most likely to claim asylum

    More from Headlines

    Explore more articles in the Headlines category

    Couple, man who died trying to stop Bondi Beach attackers praised for heroic efforts

    Couple, man who died trying to stop Bondi Beach attackers praised for heroic efforts

    Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say

    Warner Bros likely to reject $108.4 billion Paramount bid, back Netflix in bidding war, sources say

    Stellantis says EU proposals fall short on auto industry's energy transition needs

    Stellantis says EU proposals fall short on auto industry's energy transition needs

    Under Ukraine security guarantees, Western troops could repel Russian forces post-ceasefire, says Germany's Merz

    Under Ukraine security guarantees, Western troops could repel Russian forces post-ceasefire, says Germany's Merz

    Slovaks rally against government moves they see damaging rule of law

    Slovaks rally against government moves they see damaging rule of law

    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion

    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion

    US threatens countermeasures on European service providers after EU fines

    US threatens countermeasures on European service providers after EU fines

    EU drops 2035 combustion engine ban as global EV shift faces reset

    EU drops 2035 combustion engine ban as global EV shift faces reset

    Israeli settler kills 16-year-old Palestinian in West Bank, mayor says

    Israeli settler kills 16-year-old Palestinian in West Bank, mayor says

    FCAS fighter jet "very unlikely" after ministers' talks, source says

    FCAS fighter jet "very unlikely" after ministers' talks, source says

    Campari's parent company settles tax dispute with 405 million euro payment

    Campari's parent company settles tax dispute with 405 million euro payment

    Universal offers to sell Downtown's Curve to win EU approval, source says

    Universal offers to sell Downtown's Curve to win EU approval, source says

    View All Headlines Posts