The United States has dominated the global economy for decades. Canada is now poised to take on that role.
Points of attention
- Canadian Prime Minister Mark Carney plans to lead a coalition of like-minded countries to replace the US as the global economic leader.
- Canada imposed a 25% tariff on cars imported from the US as a response to US tariffs on global imports.
- The era of US dominance in the global economy is declared over by Prime Minister Carney, signaling a shift in global leadership dynamics.
Canada can become a leader instead of the US — Carney
This was stated by Canadian Prime Minister Mark Carney.
Carney said he would try to assemble a "coalition of like-minded countries" that would seek an alternative to the United States.
If the United States no longer wants to be the leader, Canada will.
Mark Carney
Prime Minister of Canada
Later, the Canadian Prime Minister added that the period of US dominance in the global economy had come to an end.
The 80-year period in which the United States assumed the role of global economic leader, forging alliances based on trust and mutual respect and championing the free and open exchange of goods and services, is over. While this is a tragedy, it is also a new reality.
Recall that US President Donald Trump has introduced new tariffs on imports of goods from all countries of the world, which came into effect on April 2, 2025. These tariffs range from 10% to 50%, depending on the importing country.
At the same time, in response to US tariffs, Canada imposed a 25% tariff on cars imported from the US.
Meanwhile, Britain has released a list of 8,000 American goods that could be hit with tariffs in response to US President Donald Trump's policies. Notably, the list includes a variety of products from binoculars to bourbon whiskey.
