Canada’s Mark Carney to visit India, Japan and Australia to expand trade partners

Stewart Prest, Lecturer, Political Science, University of British Columbia

Canadian Prime Minister Mark Carney is having a moment. Accordingly, on his visit to India, Japan and Australia, Carney is looking to find partners for his vision. He’s seeking opportunities to improve relations, expand trade and cooperate on issues of Pacific security.

While every leader in the world has to grapple with the abrupt and arbitrary decision-making of United States President Donald Trump, few have had to do so with such high stakes as America’s neighbour and ostensible ally to the north.

With more than two-thirds of Canadian exports bound for the US, bilateral trade is a matter of economic life and death for Canada. Since his return to office in January 2025, Trump has made repeated references to Canada becoming America’s “51st state” in an effort to put economic and political pressure on its northern neighbour.

Despite this, Carney has met the challenge with rare candour.

In his recent speech at this year’s World Economic Forum in Switzerland, Carney gave the world a word for the transformations now underway, describing a “rupture” in the international rules-based order.

The speech was remarkable in its honesty on other fronts, as well. Effectively, Carney acknowledged what everyone knows, but no one in a position of power has previously admitted: even before Trump’s return to the White House for a second term, the US-led liberal international order was deeply unfair in its distribution of prosperity and security.

Carney’s pedigree

Why was Carney able to say what others would not, or could not, on such a high-profile stage?

In many ways, his background and present role give him unique credibility in the eyes of the wealthy and powerful who gather each year at Davos.

Born and raised in northern and western Canada, Carney’s academic and professional career played out on a larger stage. Following a PhD in economics at the University of Oxford in 1995, he pursued a career in finance and banking that took him to the heights of both the private and public financial world.

After more than a decade working at the American multinational investment bank Goldman Sachs, Carney entered Canadian public service, eventually becoming governor of the Bank of Canada in 2008 under Conservative Prime Minister Stephen Harper. He went on to become the first non-British head of the Bank of England, serving in that role from 2013-2020.

His governorships coincided with tumultuous times in both countries, spanning the sub-prime financial crisis, Brexit and the early days of the COVID pandemic. While not without criticism, Carney’s performance in both countries won significant acclaim, leading to other international leadership roles.

By early 2025, Carney threw his hat in the ring to replace Canada’s beleaguered Liberal Prime Minister Justin Trudeau, who was trailing badly in public opinion polls. Carney won that race convincingly, and shortly after led the revived Liberals to a narrow but definitive victory over the Conservatives in a federal election in April 2025

The party’s stunning come-from-behind victory was fuelled significantly by Trump’s 51st state talk and other forms of coercion.

Commanding respect

Carney has a remarkable CV by any measure. He has moved from the heights of academia to business, finance and finally, government. In politics, he’s been successful in both Liberal and Conservative political environments. That broad credibility ensured that when he spoke from the podium at Davos about a rupture in an already unequal global political system, his words would be taken seriously.

Carney’s role as prime minister of Canada has also played a role in making him the poster boy of a global anti-Trump movement. Since Trump’s return to office, Canada has been on the front lines of America’s movement away from long-held alliances towards a more mercurial, coercive and even predatory foreign policy.

Trump’s penchant for insulting Canadian leaders, threatening Canadian sovereignty and weakening the Canadian economy in the service of American interests makes Canada an important test case that other American partners can learn from.

Within Canada itself, Carney is popular, though his responses to Trump have not always been without criticism. Some have pointed to a recurring gap between rhetoric and action.

Carney’s swift move to endorse the recent US attacks on Iran fit this pattern, as well. Yet, such appeasement hasn’t been rewarded with reciprocity by the Trump administration.

Seeking partners

As Carney visits the Pacific Rim, including a stop Australia, there’s no question he’s put himself — and Canada — in the global spotlight for his handling of Trump.

His speech in Davos sketched out a vision of an alternate global order that Canada and other like-minded countries might collectively pursue as a defence against the chaotic and unstable world unleashed by Canada’s former friend and ally. However, that rhetoric is not yet reality.

The old world order is not coming back. What Carney achieves in his foray to the Pacific Rim may help determine what new order, if any, emerges in its place.

Canada’s Mark Carney to visit India, Japan and Australia to expand trade partners

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