Sat, 01 Feb 2025

Canada 'will stand up to a bully', says PM contender Carney over Trump tariffs

The prime ministerial candidate responds to Donald Trump imposing 25% tariffs on Canada.

* Mark Carney, a potential candidate to become Canada's next prime minister, says his country will "match dollar for dollar" US tariffs imposed by President Donald Trump.
* The US has announced 25% tariffs on Canadian imports, as well as 25% tariffs on Mexico and 10% on China.
* Carney claims that Trump thinks Canada will "cave in", but says the country will not back down and will retaliate against the tariffs.
* The former Bank of England governor warns that the tariffs will damage the US's reputation around the world, hurt growth, raise inflation, and increase interest rates.
* Carney criticizes Trump for "ripping up" a trade agreement with Canada, referencing the US-Mexico-Canada Agreement (USMCA).
* Economists predict that the tariffs could have a devastating impact on Canada's economy and lead to higher prices for Americans.
* The leadership race in Canada will conclude on March 9, and the winner will replace Prime Minister Justin Trudeau as prime minister and party leader.
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