Khaberni - The governor of the Canadian Central Bank, Tiff Macklem, said on Wednesday that the era of rule-based trade relations with the United States had “ended”, repeating the warning of a “fracture” in the global system due to Washington's policies.
Macklem pointed out that "it is absolutely clear that the era of open trade based on rules with the United States has ended", days after President Donald Trump was warned by Carney that his approach had caused a “fracture” in the global economic system.
Carney had urged during his participation last week at the World Economic Forum in Davos, the middle powers to unite against the forces of “domination”.
Carney's stance irritated Trump who addressed him from the same platform saying, “Canada lives thanks to the United States. Remember that, Mark, next time you make your statements”.
Latter, Trump renewed his threat to impose a custom tariff of one hundred percent on Canadian imports to the United States if Ottawa proceeds with a new trade deal with China.
The statements reflect the acute tensions between the North American neighbors, despite a phone call that took place on Monday between the two men, which Carney described as “good”.
