Carney Returns to Ottawa as Trade Tensions Escalate

Prime Minister Mark Carney has hit the brakes on his election campaign to address the spiraling consequences of President Donald Trump’s escalating trade war. Back in Ottawa, Carney is convening a crucial cabinet meeting focused on Canada-U.S. relations and national security.

This marks the third time Carney has paused his campaign as Liberal leader to provide critical leadership in response to Trump’s aggressive trade maneuvers.

Stock Market Turmoil Following Trump’s Tariff Decisions

The meeting comes amid a turbulent week for global markets, which have plunged since Trump announced his sweeping tariffs. Although a temporary pause on these tariffs was granted for more than 75 countries, Canada was notably excluded from that reprieve.

In recent weeks, Canada has faced three major sets of tariffs from the U.S., including a 25% tariff on non-CUSMA-compliant goods, steel and aluminum, and the auto sector.

The Stakes Are High for Canada’s Economy

While campaigning in Brampton, Ontario, Carney described Trump’s tariff pause as "a welcome reprieve," but cautioned that the ongoing tariffs are already impacting economies worldwide and at home.

"The stakes have never been higher for our economy," he emphasized, indicating the urgency of returning to Ottawa to manage the situation.

Canada Strikes Back with Counter-Tariffs

In retaliation, Canada has enacted counter-tariffs on nearly $60 billion worth of U.S. goods, primarily targeting American vehicles—these tariffs went into effect just this week.

Election Anxiety Heightens Over Trade War

As Canadians gear up for the polls on April 28, Trump’s trade war, along with his controversial remarks about making Canada the 51st U.S. state, are hot-button issues dominating discussions.

Conservative Leader Pierre Poilievre slammed Trump’s decision to pause tariffs on other nations while maintaining them on Canada, calling it "historic mistreatment." Meanwhile, NDP Leader Jagmeet Singh voiced concerns about the anxiety many Canadians feel over the unpredictable nature of Trump.

Political Responses Intensify Amidst Trade Chaos

As Carney refocuses on trade issues, Poilievre campaigns in St. Catharines and Windsor, while Singh is active in Ottawa, underscoring how trade tensions are reshaping the political landscape as the election approaches.