The tariffs dont apply to car parts, however.
Carney said he thought Canada would earn approximately $5.7 billion from the new measures.
However, tariffs instituted earlier this year remain in effect for both of the nations.
© David Kawai/Bloomberg via Getty Images
Trump leviedmultiple tariffson Mexico and Canada in February, including on Canadassteel and aluminum, and on Canadian exports.
We take these measures reluctantly, Mr. Carney told reporters.
He went on: We can do better than the United States.
Exactly where that comes out depends on how much damage they do to their economy.
Indeed, the USMCA was put into place in 2020.
Carney also predicted that Trumps trade war would hurt Americans so much that the tariffs would ultimately be rescinded.
Given the prospective damage to their own people, the American administration should eventually change course, Carney said.
And will be hard on Canadians just as it will be on other partners of the United States.
Carney also spoke pessimistically about U.S.-Canadian relations: The global economy is fundamentally different today than it was yesterday.
The system of global trade anchored on the United States… is over.
Our old relationship of steadily deepening integration with the United States is over.
The 80-year period when the United States embraced the mantle of economic leadership…is over.
This is a tragedy, he added.
It is also the new reality.
We must respond with both purpose and force.
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