Canada Maintains Composure Amid U.S. Tariff Escalation, Seeks Structured Trade Talks

Canadian officials led by Mark Carney adopted a measured response to President Trump's abrupt 10% tariff increase on Canadian goods, framing the MOVE as an unnecessary escalation rather than a crisis. The tariffs—announced during Carney's ASEAN summit attendance—came in retaliation to an Ontario TV ad featuring Ronald Reagan criticizing protectionism, despite the province's pledge to pull the spot.

"Canada stands ready to build on progress in negotiations with our American counterparts," Carney stated, emphasizing federal jurisdiction over trade policy. His remarks in Malaysia contrasted with Trump's Air Force One comments ruling out a bilateral meeting during their overlapping Asian summit attendance.

The dispute highlights growing North American trade tensions, with Ottawa favoring closed-door negotiations over public posturing. Market analysts note such geopolitical friction typically drives capital toward non-sovereign stores of value—a structural tailwind for Bitcoin and other decentralized assets during periods of trade policy volatility.