Canada Can Reshape Global Trade, Weaken China's Influence with US
Chrystia Freeland, a Canadian politician vying for prime minister, believes Canada can collaborate with President Donald Trump's administration to reform global trade and challenge China's dominance in supply chains.
Freeland views Trump as a strategic thinker who seeks to demonstrate his toughness to other nations, including Canada, Mexico, and other allies, as a precursor to adopting stricter policies towards China. She considers Scott Bessent, the newly confirmed Treasury Secretary, as a potential ally in this endeavor.
Freeland highlights China's repeated failures to stimulate domestic demand, presenting Canada as a valuable partner for the US in efforts to rebalance the global economy.
In her campaign to succeed Justin Trudeau as Liberal Party leader, Freeland emphasizes her resolve to confront the US administration. She has faced Trump's disapproval, including his criticism of her "toxic" behavior.
During Trump's first term, Freeland played a pivotal role in Canada's negotiations on the North American Free Trade Agreement, earning a reputation for assertiveness. Despite the tensions, the talks culminated in an updated pact perceived as a political victory for Trudeau.
Upon returning to power, Trump has targeted the trade deficit between the US and Canada, primarily driven by oil, gas, and other commodity imports. He has also proposed that Canada become a US state, an idea opposed by most Canadians.
Freeland asserts that a government led by her would retaliate if Trump imposes tariffs. Canada would publish a list of C$200 billion worth of US imports on which it would impose counter-tariffs as leverage against the US administration.
Freeland's retaliation strategy involves "dollar for dollar" counter-tariffs on products like Florida oranges, Wisconsin dairy products, and Michigan dishwashers. She also plans to host an international summit for nations targeted by Trump, such as Mexico, Denmark, Panama, and the European Union.
In the race for party leadership, Freeland faces competition from Mark Carney, the former governor of both the Bank of Canada and the Bank of England. Carney has secured endorsements from most of Trudeau's cabinet members.
Freeland differentiates herself from Carney based on her extensive political experience, arguing that being an elected official accountable to the country and its citizens is crucial, especially when facing formidable adversaries.
Freeland has distanced herself from Trudeau, criticizing his focus on "costly political gimmicks" over preparedness for a trade war with Trump. Trudeau responded by calling the leadership race three weeks later.