OTTAWA — Mark Carney, Canada’s freshly minted prime minister, is staring down a storm. Barely settled into his new digs at 24 Sussex Drive after a stunning election win on April 28, 2025, the former Bank of England governor is already scrambling to shield Canada’s economy from a looming threat: Donald Trump’s second term. With the U.S. president-elect vowing to slap hefty tariffs on Canadian goods and even joking about making Canada the “51st state,” Carney’s got a fight on his hands. His plan? Lean hard on Britain to help Canada diversify its trade and dodge an economic body blow.
Carney’s no stranger to high-stakes games. He steered the Bank of England through Brexit’s chaos and kept Canada’s central bank steady during the 2008 financial crash. But this is different. Trump’s rhetoric isn’t just bluster—his team has floated 25% tariffs on Canadian exports, which could gut industries like auto manufacturing and energy. Canada sends nearly 75% of its goods to the U.S., a reliance Carney called out on the campaign trail as a glaring weakness. “Our trade and security are too tied to one partner,” he told reporters in London on April 20. “We need to spread our bets.”
Enter Britain. The U.K., fresh off its own post-Brexit recalibration, is Carney’s first stop for a trade lifeline. On May 1, his office confirmed he’s planning a major trade delegation to London, aiming to boost exports and secure investment. The U.K. already buys $14 billion in Canadian goods annually—think gold, machinery, and seafood—but that’s a drop in the bucket compared to the $400 billion headed south. Carney’s betting on shared history, common values, and Britain’s stable markets to make it a bigger player. A Canadian tech firm in Ontario, specializing in AI-driven analytics, is already eyeing London for expansion, a sign the U.K.’s open for business.
The urgency hit fever pitch after Carney’s call with Trump post-election. The two agreed to keep Canada-U.S. ties strong, but the subtext was clear: Trump’s “America First” agenda leaves little room for neighborly favors. Carney’s team is now racing to ink deals that don’t require full-blown trade agreements—just practical, on-the-ground partnerships. Think more Canadian lumber in British homes, more maple syrup on U.K. shelves. It’s not sexy, but it’s survival.
Carney’s pivot isn’t just about dollars. Trump’s tariff threats, coupled with his “51st state” jabs, have stoked fears of economic coercion. In his victory speech on April 28, Carney didn’t mince words: “He’s trying to break us so America can own us.” Diversifying trade is as much about sovereignty as it is about jobs. Britain, with its global clout and distance from Washington’s drama, is the logical ally.
But it’s not a slam dunk. The U.K. has its own economic headaches—slow growth, labor shortages—and Canada’s not the only country knocking. Plus, any deal needs to move fast; Trump’s inauguration is January 20, 2026, and tariffs could hit soon after. Carney’s banking on his London rolodex and old Bank of England ties to grease the wheels.
For now, Carney’s got Canada’s ear. His improbable rise from political nobody to PM in months has voters intrigued, if not fully sold. He’s pitching Britain as a partner that gets Canada—same monarchy, same gritty resolve. Whether it’s enough to weather Trump’s storm is anyone’s guess. But Carney’s not waiting to find out.
Facts: Mark Carney won Canada’s election on April 28, 2025, becoming prime minister. He spoke with Donald Trump post-election, agreeing on Canada-U.S. cooperation. Carney campaigned on diversifying Canada’s trade, citing over-reliance on the U.S. He plans a trade delegation to the U.K., confirmed May 1, 2025. Canada exports $14 billion to the U.K. annually, versus $400 billion to the U.S. Trump has threatened 25% tariffs on Canadian goods.