Mark Carney

It remains to be seen how these developments might affect future spending and investment.

I do think with the arrival of the tariff inflation, further progress may be delayed. The SEP doesn't really show further downward progress on inflation this year, and that's really due to the tariffs coming in.

I do think with the arrival of the tariff inflation, further progress may be delayed. The SEP doesn't really show further downward progress on inflation this year, and that's really due to the tariffs coming in.

I do think with the arrival of the tariff inflation, further progress may be delayed. The SEP doesn't really show further downward progress on inflation this year, and that's really due to the tariffs coming in.

We will never, ever in any way, shape or form be part of the United States. America is not Canada. Look at the ceremony we just have. You could not have had that ceremony. You would not have that ceremony in America. Look at the cabinet behind me. You would not have that cabinet in America. You do not have that cabinet in America. We are very fundamentally different country.

We will never, ever in any way, shape or form be part of the United States. America is not Canada. Look at the ceremony we just have. You could not have had that ceremony. You would not have that ceremony in America. Look at the cabinet behind me. You would not have that cabinet in America. You do not have that cabinet in America. We are very fundamentally different country.

We will never, ever in any way, shape or form be part of the United States. America is not Canada. Look at the ceremony we just have. You could not have had that ceremony. You would not have that ceremony in America. Look at the cabinet behind me. You would not have that cabinet in America. You do not have that cabinet in America. We are very fundamentally different country.

We will never, ever in any way, shape or form be part of the United States. America is not Canada. Look at the ceremony we just have. You could not have had that ceremony. You would not have that ceremony in America. Look at the cabinet behind me. You would not have that cabinet. in America. You do not have that cabinet in America. We are a very fundamentally different country.

We will never, ever in any way, shape or form be part of the United States. America is not Canada. Look at the ceremony we just have. You could not have had that ceremony. You would not have that ceremony in America. Look at the cabinet behind me. You would not have that cabinet. in America. You do not have that cabinet in America. We are a very fundamentally different country.

We will never, ever in any way, shape or form be part of the United States. America is not Canada. Look at the ceremony we just have. You could not have had that ceremony. You would not have that ceremony in America. Look at the cabinet behind me. You would not have that cabinet. in America. You do not have that cabinet in America. We are a very fundamentally different country.

Well, you called it a seeming breakdown, which actually might underplay what's going on in the transatlantic relationship right now. Just since President Trump took office, you've seen him openly undermine the NATO alliance. You've seen him threaten that the U.S. will no longer provide a security umbrella for Europe. You saw him essentially side with Russia against Ukraine.

Well, you called it a seeming breakdown, which actually might underplay what's going on in the transatlantic relationship right now. Just since President Trump took office, you've seen him openly undermine the NATO alliance. You've seen him threaten that the U.S. will no longer provide a security umbrella for Europe. You saw him essentially side with Russia against Ukraine.

You alluded to the tariffs that he's imposed, not just on Mexico and Canada, but now on the European Union. So when you add all this up, it's really causing Europeans to question the very survival of this alliance that has characterized the post-World War II era. And, you know, of course, the implications of this are enormous.

You alluded to the tariffs that he's imposed, not just on Mexico and Canada, but now on the European Union. So when you add all this up, it's really causing Europeans to question the very survival of this alliance that has characterized the post-World War II era. And, you know, of course, the implications of this are enormous.

They extend well beyond Europe, because if you think about it, the transatlantic alliance is really the bedrock arrangement that has shaped the entire world order for decades. not just militarily, strategically, but also in terms of trade and economic relations. So this is a genuinely shocking moment for Europe and for Europeans.

They extend well beyond Europe, because if you think about it, the transatlantic alliance is really the bedrock arrangement that has shaped the entire world order for decades. not just militarily, strategically, but also in terms of trade and economic relations. So this is a genuinely shocking moment for Europe and for Europeans.

But in some sense, it shouldn't be entirely surprising because if you go back... through time, the Europeans should have seen at least some of this coming. It was being telegraphed to them, not just in the last year, not even just in President Trump's first term, but really over the last 5, 10, even 20 years.

But in some sense, it shouldn't be entirely surprising because if you go back... through time, the Europeans should have seen at least some of this coming. It was being telegraphed to them, not just in the last year, not even just in President Trump's first term, but really over the last 5, 10, even 20 years.

So you could see these last few weeks as the Europeans were finally waking up from a state of denial.

So you could see these last few weeks as the Europeans were finally waking up from a state of denial.