MONTREAL — U.S. President Donald Trump’s trade threats are topping the agenda for the Liberal party’s English language leadership debate — the second in as many days and the last of the campaign.
The candidates explained how they would react if Trump moves ahead with tariffs on Canada next week.
Presumed front-runner Mark Carney said he would quickly gather the premiers together and hit back with dollar-for-dollar tariffs designed to have minimal impacts in Canada.
He said the United States is already showing signs of feeling the economic impact of Trump’s policies and that Canada “will amplify that.”
Former finance minister Chrystia Freeland said she would immediately take aim at Trump’s best friends and hit them with a wave of targeted counter-tariffs that would cause an immediate stock market reaction.
“Our retaliation will be a lot smarter than their dumb tariffs,” she said, alluding to a Wall Street Journal editorial that called Trump’s tariff strategy “The Dumbest Trade War in History.”
She said lobby groups such as the American Farm Bureau would quickly complain to Trump about the Canadian products they need becoming too expensive.
“That reaction, that pain, will cause Trump, ultimately, to back down – just like he did last time,” Freeland said, citing her past involvement in dealing with the first Trump White House’s tariffs.
Montreal businessman Frank Baylis said Canada should “completely” support the industries Trump targets and not let him take Canadian jobs away. He said he would quickly meet with Mexican President Claudia Sheinbaum to rally a coordinated response to Trump.
“He’s not going to stop until he gets the lesson that he can’t get away with this,” Baylis said.
Former Liberal House leader Karina Gould pledged transparency in her approach, vowing to call together the premiers and share her plan with the entire country “because Canadians deserve to know.”
Trump has threatened sweeping 25 per cent tariffs on March 4.
Liberal party members can begin casting advance votes for their preferred candidates as early as Wednesday.
This report by The Canadian Press was first published Feb. 25, 2025.
Kyle Duggan and Maura Forrest, The Canadian Press
