Mark Carney

Tariffs as leverage, financial infrastructure as coercion, supply chains as vulnerabilities to be exploited.

You cannot live within the lie of mutual benefit through integration when integration becomes the source of your subordination.

There.

Further clarification.

Let me be direct.

We are in the midst of a rupture, not a transition.

Great powers have begun using economic integration as weapons.

Tariffs as leverage.

Financial infrastructure as coercion.

Supply chains as vulnerabilities to be exploited.

This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions or whether instead monetary policy will be directed by political pressure or intimidation.

We understand that this rupture calls for more than adaptation.

It calls for honesty about the world as it is.

We are taking the sign out of the window.

We know the old order is not coming back.

We shouldn't mourn it.

Nostalgia is not a strategy.

But we believe that from the fracture we can build something bigger, better, stronger, more just.

This is the task of the middle powers.

The countries that have the most to lose from a world of fortresses and the most to gain from genuine cooperation.