The frontrunner to win Canada’s election, Prime Minister Mark Carney, has warned the era of close US ties “is over,” but experts say restoring free trade with Washington will be crucial for whoever wins Monday’s vote.
Carney, the Liberal Party leader, has throughout the campaign issued stark warnings about future US relations, responding to President Donald Trump’s trade war and talk of making America’s northern neighbor the 51st state.
The ex-central banker has also pledged to use his international financial experience to forge closer ties with Europe and Asia to curb Canada’s reliance on the United States.
But for Steve Verheul, Canada’s deputy minister for trade policy during Trump’s first term, pursuing overseas markets may be wise, but it doesn’t offer “quick fixes” to the Trump challenge.
“It’s a timing problem for Canada,” Verheul told a policy conference in Toronto.
Trump’s bid to use tariffs to force companies to bring …