Berliner Boersenzeitung - Carney vows to transform Canada economy to withstand Trump

Carney led the Liberal Party to a dramatic fourth mandate in elections on Monday after a campaign focused on the US president's threats to Canada's economy and sovereignty.

Liberals fell just short of the 172 seats needed for majority control of parliament, but with 168 confirmed wins they will be in a strong position to pass legislation.

At his first press conference since his victory, Carney struck a determined note.

Known for weighing his words carefully, he said that he was "in politics to do great things, not to be something."

"And now that Canadians have honored me with a mandate to bring about big changes quickly, I will work relentlessly to fulfill that trust."

Canada's strained relations with the United States -- its historically close ally and biggest trading partner -- were his "immediate priorities," he said, announcing a trip to Washington next Tuesday to meet with Trump on trade and security issues.

Canadians, he noted, elected him "to stand up to President Trump," adding that he will act "with focus and determination."

"Our focus will be on both immediate trade pressures and the broader future economic and security relationship between our two sovereign nations," said Carney.

But he warned also not to expect any "white smoke" from their first meeting signaling a sudden breakthrough.

Carney reiterated his message from throughout the campaign that he believes the old relationship between the two North American neighbors "based on steadily increasing integration is over."

"The questions now are how our nations will cooperate in the future," he said.

Trump "respects strength," he added, explaining that this was why he was preparing the country for major changes.

The Conservatives, the main opposition party, as well as the Bloc Quebecois (the third-largest party in Parliament), both called for unity after the elections.

Carney, who previously headed the Bank of Canada and the Bank of England, promised to maintain tariffs on American products as long as Washington's measures were in place.

- 'Economic destiny' -

"This will be an incredibly exciting time as we take control of our economic destiny to create a new Canadian economy," Carney said.

To this end, he promised to abolish existing trade barriers between provinces in Canada by July 1, and to strengthen trade with "reliable allies."

"Canada has what the world needs, and we uphold the values the world respects," he said.

He announced also that he would unveil his new minority Liberal government in the week of May 12 and that parliament would return on May 26.

King Charles III -- Canada's head of state, as it is a British Commonwealth country -- will deliver the opening speech, Carney said.

"This is a historic honor which matches the weigh of our times," he emphasized.

"It clearly demonstrates the sovereignty of our country," he said in a pointed reference to Trump's ambitions to make Canada the 51st American state.

The ceremonial speech, which marks the opening of a new session of the Canadian Parliament, is usually delivered by the governor general, who is the King's representative in the country.

(L.Kaufmann--BBZ)