Unpacking claims that Canadian PM Mark Carney orchestrated a US Treasurys sell-off

In early April 2025, a rumor began to spread that U.S. President Donald Trump had backed down on tariffs because Canadian Prime Minister Mark Carney forced his hand by orchestrating a collective sale of U.S. bonds. Canadian Prime Minister Mark Carney forced his hand by orchestrating a collective sale of U.S. bonds. It is true that Trump paused tariffs after the price of U.S. Treasurys began to drop at the same time as the price of U.S. stocks plummeted, an event known as a synchronized sell-off. In fact, after he announced the pause, Trump said, “bond markets are tricky.” However,…