Canada Gives Trump Middle-Finger, Bets Midterms Will Fix It
KEY POINTS
- •On August 22, Mark Carney vowed to match Trump’s 50% tariffs dollar for dollar after walking away from trade talks.
- •Carney gained broad domestic support, including approval rises to 60%, with premiers Doug Ford and Wab Kinew backing his stance.
- •Canada faces rising economic pains with 6.4% unemployment, risking more job losses if trade conflicts prolong amid political posturing.
In what can only be described as polite financial stubbornness, former Bank of Canada and Bank of England governor Mark Carney played hardball against President Trump’s tariff tantrums on August 22, promising to retaliate with matching 50% U.S. tariffs. Declaring Canada not a subsidiary of the U.S., Carney found cheers from Ontario's Doug Ford and Manitoba’s Wab Kinew, who’s 100% in—like a Canadian-themed boy band reunion tour. Approval ratings for Carney rose 3 points to 60%, proof Canadians love a bankster turned baron of brinkmanship. Meanwhile, midterm election bets float around like maple syrup on snow, with traders hoping tariffs cool off before wallets chill deeper.
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(1 of 3)Source: Axios | Published: 8/24/2026 | Author: Rebecca Falconer