Global Economic Slowdown Linked to Tariffs Begins to Impact Canada: Mark Carney

Prime Minister Mark Carney has stated that the global economic slowdown is beginning to affect Canada, primarily due to tariffs. He made these remarks following a meeting with his cabinet committee on Canada-US relations in Ottawa today.

Carney noted that the meeting focused on identifying early signs of economic deceleration and its potential consequences for Canada. The discussions also included a review of Canada’s response to US-imposed tariffs. The Prime Minister emphasized that the government’s priorities are addressing tariffs, safeguarding the Canadian economy, and exploring new strategies to mitigate their impact.

It is important to highlight that US President Donald Trump has implemented a 10% uniform tariff on all imported goods, alongside a 25% tariff on steel, aluminum, cars, and car parts. These measures have added significant pressure to the global trade landscape, further contributing to the slowdown.