Today, just hours after our call with Mark Carney, former President Donald Trump congratulated him. On that call, Carney went one step further, suggesting discussions on a new, comprehensive trade deal. That back-and-forth bodes well for their mutual desire to tackle global trade relations, especially with respect to the complicated relationship the U.S. has with China. Carney’s next stop should be the White House. He hopes to be able to move negotiations on the issue forward during his visit.
Mark Carney, got things started with Trump. … he was just looking to see what kind of pathways there might be toward a trade agreement. What was important was that Trump sounded very open to negotiations during this exchange. He reiterated his goal of a balanced deal with China that addresses Intellectual Property (IP) concerns.
Earlier this week, Trump sounded hopeful that a trade agreement with China was in the works. This is consistent with Carney’s ‘Build a Better Relationship’ goal of building a better agreement with the United States. This trilateral initiative could not have started at a more opportune moment as all three countries find themselves contending with shifting economic headwinds and unprecedented trade patterns.
Then they’ll get into the nitty gritty of the details of the proposed trade agreement. Trump has indicated that fairness in trade relations is essential, particularly regarding issues of IP, which has been a contentious topic between the U.S. and China.
In this regard, Carney’s visit is a promising development and an important step towards building out that dialogue between the two parties. Second, he takes the fight directly to Trump and proposes using his deep expertise on international finance to do so. His overarching goal is to ensure a workably productive forward negotiating process.