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Incoming Canadian Prime Minister Mark Carney said Tuesday that his government will keep tariffs in place until Americans show respect and commit to free trade after US President Donald Trump threatened historic financial devastation for Canada. Carney, who will be sworn in as Justin Trudeau's replacement in the coming days, said Trump's latest tariffs are an attack on Canadian workers, families, and businesses. My government will ensure our response has maximum impact in the US and minimal impact here in Canada, while supporting the workers impacted, Carney said. He added: My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade." Trump said Tuesday that he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada, escalating a trade war with the United States' northern neighbour and showing an indifference to recent stock market turmoil and rising recession risks. Trump said on
Former central banker Mark Carney will become Canada's next prime minister after a Liberal Party leadership vote in a landslide. Carney is 59. He was born in Fort Smith, Northwest Territories, on March 16, 1965, and raised in Edmonton, Alberta. CredentialsCarney ran the Bank of Canada from 2008 to 2013 and the Bank of England from 2013 to 2020. After helping Canada manage the worst impacts of the 2008 financial crisis, he was recruited to become the first non-Brit to run the Bank of England since it was founded in 1694. In 2020, he began serving as the United Nations' special envoy for climate action and finance. Carney is a former Goldman Sachs executive. He worked for 13 years in London, Tokyo, New York and Toronto, before being appointed deputy governor of the Bank of Canada in 2003. He has no experience in politics. EducationCarney received a bachelor's degree in economics from Harvard University in 1988, and master's and doctoral degrees in economics from Oxford University. L
Canadian Prime Minister Justin Trudeau is unwilling to lift Canada's retaliatory tariffs on the United States if President Donald Trump leaves any US tariffs on Canada, a senior government official told The Associated Press on Wednesday. The official confirmed Trudeau's stance on the condition of anonymity because the person was not authorised to speak publicly on the matter. The official said Trump and Trudeau spoke by phone around midday. Other Canadian officials publicly echoed Trudeau's position. We're not interested in meeting in the middle and having some reduced tariff. Canada wants the tariffs removed, Canadian Finance Minister Dominic LeBlanc told the Canadian Broadcasting Corporation. Ontario Premier Doug Ford, the leader of Canada's most populous province, agreed. Zero tariffs or nothing. This attack was not started by our country. This was started by President Trump. He decided to declare an economic war against our country and our province, and we're going to hold str
Canadian Prime Minister Justin Trudeau will meet with King Charles III, the country's head of state, on Monday where he will discuss US President Donald Trump's threats to make Canada the 51st state. The king has come under criticism in Canada for being silent about Trump's threats to annex Canada. Trudeau said in London on Sunday he will discuss matters of importance to Canadians with Charles and said "nothing seems more important to Canadians right now than standing up for our sovereignty and our independence as a nation. Charles is the head of state in Canada, which is a member of the British Commonwealth of former colonies. Overall, the antiroyal movement in Canada is small, but the silence of the monarch on Trump's threats have spurred talk in recent days. Former Alberta Premier Jason Kenney said for Canadians disappointed that King Charles has not commented on Trump's threats he can only act on the advice of Canada's prime minister. The Government of Canada should ask the H