(Zero Hedge)—Canadian Prime Minister and WEF globalist Mark Carney has been a disaster for Canada since he entered office. There were many critics who believed the Trudeau regime could not be topped in terms of self destructive behavior, but one could easily argue that Carney is far more dangerous and far more devious.
This week the Canadian government abandoned a nearly finalized trade deal with the US in the final hour of talks, leaving many analysts (and Canadians) bewildered. According to U.S. Trade Representative Jamieson Greer and related reports on the negotiations, the U.S. offered significant tariff reductions that would have given Canada preferential treatment relative to other major exporters.
The offer included a reduction of tariffs on steel from 50% to 25%, a reduction on Canadian autos from 25% to 15%, a removal of the 10% tariff on Canadian lumber and cooperation on numerous other measures, representing the best deal offered in comparison to any other country which relies on heavily US markets. Carney abruptly ordered negotiators to walk away, claiming the deal was “not good enough”, and declared further retaliation against the US.
As of this moment 50% tariffs have been implemented on the majority of Canadian goods – The sudden shift represents economic suicide for Canada given their deep dependence on the US. And what Carney doesn’t tell Canadian citizens is, there are no practical alternatives to fill the trade void left behind.
Around 78% of all Canadian exports rely on US consumer markets. These goods and resources only make up around 13% of all US imports. Meanwhile, around 15% of US exports go to Canada. In the US, exports make up 11% of total GDP. In Canada, exports make up 33% of GDP.
Economic is partially about psychology, but it’s mostly about numbers, and the numbers just don’t add up for the “Great White North”. By every metric, Canada needs the US more than the US need Canada. Without these exports, Canada would suffer severe instability within a few years.
The Canadian Central Bank, though, has tried to dismiss the dangers of prolonged trade disruptions with the US and Carney has sought to temper public concerns with posturing and bluster:
“You’re at war when you get attacked. We got attacked.”
This “war” rhetoric from the Prime Minister has been constant since he entered office – A clear attempt to sensationalize trade negotiations and excite the Canadian public with existential fears. Bizarrely, Carney insinuated that the US was threatening Canada’s sovereignty, culture and languages. The hypocrisy of a devout globalist pontificating about national culture and “sovereignty” is stomach churning, but these declarations are highly strategic.
Carney has been pursuing trade deals with the EU and China in an attempt to “replace” US markets and save Canadian exports. These agreements are being hailed by the Davos crowd as a “New World Order” that decouples from the US economy. However, there are a number of problems.
The US makes up over 30% of total global consumer markets. The entirety of the EU makes up around 15% of consumer markets and China makes up around 12%. Together these regions still don’t fill the hole left by the US, and there are numerous expenses attached.
China regularly enforces tariffs on Canada, while shipping goods overseas to Europe or Asia adds price hikes to Canadian goods that would not be an issue in trade with the US. Meaning, they will sell far less overseas.
Furthermore, Chinese trade deals tend to come with strings attached. China is seeking economic and resource expansion into Canada, which is ruffling feathers among Canadian companies and citizens. Beyond that, the CCP often demands influence over government policy within the smaller countries it partners with economically (Canada’s relationship with Taiwan has been a point of contention as the CCP exerts pressure).
In other words, Carney claims to be saving Canada from being dominated by the US, but he will end up selling his nation’s sovereignty to China or the EU just to spite the Trump Administration.
Carney’s behavior in light of these negotiations might seem bizarre, but it makes perfect sense if we consider the possibility that his goal is to cripple the Canadian economy deliberately and make it a pawn in a greater war waged by the Davos elite to isolate conservative movements in the US. The majority of anti-globalist and anti-multicultural movements around the world rely on American efforts to defeat the progressive agenda.
In other words, global lines are being drawn right now for a fight over who will decide the course of the future. Carney is clearly steering Canada to the side of the WEF ideal.
