Groups > alt.fan.rush-limbaugh > #2922774

Trumps tariffs will hurt the U. S. the way Brexit hurt the U. K. , Mark Carney says

From	Marmalade King <x@y.com>
Newsgroups	alt.fan.rush-limbaugh, alt.atheism, alt.home.repair, alt.politics.trump, rec.arts.tv, uk.politics.misc
Subject	Trumps tariffs will hurt the U. S. the way Brexit hurt the U. K. , Mark Carney says
Date	2025-04-18 13:12 +0000
Organization	A noiseless patient Spider
Message-ID	<vttj33$333gb$1@dont-email.me> (permalink)

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Donald Trumps tariffs will hurt the U. S. the way Brexit hurt the U. K. , 
Mark Carney says

Liberal Leader Mark Carney says U. S. President Donald Trumps tariffs could 
do the same kind of economic damage to the United States as Brexit did to 
the United Kingdom, and that it will be very difficult to walk back.

OTTAWA  Liberal Leader Mark Carney says U. S. President Donald Trumps 
tariffs could do the same kind of economic damage to the United States as 
Brexit did to the United Kingdom, and that it will be very difficult to 
walk back.

Carney made the comments on an episode of The Prof. G. Pod with Scott 
Galloway that was posted Thursday.

Galloway, an American entrepreneur and New York University professor, 
conducted the 40-minute interview with Carney earlier this week.
Carney was governor of the Bank of England when British citizens voted to 
leave the European Union. He warned before and after the vote that leaving 
the EU would damage the British economy.

Carney told Galloway that he expected Brexit to slow down the U. K. economy 
and cost jobs, which it ultimately did. He said the U. S. could see a 
similar impact from tariffs imposed recently by Trump.

When you look at whats happened in the U. S. , the friction this put into 
trading relationships is going to cause the same thing, he said. It is 
going to slow the rate of growth of that economy. It is going to affect the 
dollar. It has affected the dollar negatively as weve seen, its going to 
push up prices on the margins and so slow the economy, higher inflation, 
higher interest rates.

Carney said most people in the U. K. now recognize that Brexit was harmful 
to their economy, and that the damage wont be easily reversed.

Its pretty well understood that the economic impact of Brexit has been 
negative in the U. K. , lets say two thirds of the people now understand 
that, he said. The path back to being closer to Europe is very difficult 
politically. Its hard to rebuild that consensus.

After bringing in sweeping global tariffs on April 2, Trump put most of 
them on pause for 90 days on April 9. Carney said many countries will be 
looking for new trading partners despite that pause, and said one of his 
major priorities in his first year in office would be to seek out new 
trading partners for Canada.
ARTICLE CONTINUES BELOW

I think the trading system is going to get reordered fairly quickly and so 
in the course of the first year, the question is who are we going to deepen 
our relationships with, he said.

When Galloway asked Carney what his other main priorities would be in his 
first year as prime minister, he said lowering trade barriers within Canada 
and housing.

He said Canada has to rethink everything in this environment, citing 
critical minerals as an area where Canada would want different trading 
partners.

If were going to develop those, maybe we want to develop them as a supply 
chain to someone whos not going to slap a tariff like that on us, he said.

Carney said Canada can also be a magnet for talented people who are looking 
to leave the U. S.

Its quite a hostile environment in the academic world in the United States, 
he said. We can take advantage of that.
ARTICLE CONTINUES BELOW

Trump has threatened several Ivy League universities with funding cuts and 
mused about stripping Harvard University of its tax-exempt status after its 
administration refused to agree to some of his demands.

Carney said the economic damage Trump has done to Canada has hurt the two 
countries relationship, as have the presidents comments about making Canada 
the 51st state.

On your hierarchy of betrayals, threatening somebody elses sovereignty is 
pretty much the top, he said. When you have a loss of trust, it can be 
repaired to a degree. It takes a period of time and it takes action.

In a phone call in March, Trump and Carney agreed to discuss a new trading 
relationship in May. He said the work on the relationship will start then, 
regardless of who is prime minister.

The prime minister of Canada at that point will meet with President Trump. 
I want to be the prime minister at the point. Im working hard to get there, 
but, theyll sit down and start a process of redefining that relationship 
and building trust out from that.

www. thestar. com

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