Carney convenes Canada-U.S. committee, warns tariffs slowing both global and Canadian economies

Peter Zimonjic · CBC News

· Posted: Apr 11, 2025 1:50 PM EDT | Last Updated: 7 minutes ago

Prime Minister Mark Carney emerged from a gathering with his Canada-U.S. committee successful Ottawa connected Friday informing the planetary system is starting to slow, and saying he's directed officials to hole for negotiations with the Trump medication adjacent month. 

Describing the gathering arsenic "a good, agelong treatment connected respective aspects," the Liberal person said a batch has happened successful the past week since U.S. President Donald Trump introduced his tariff policy. 

Carney said speech from China's determination to slap counter-tariffs connected U.S. goods, determination has been "a truly marked tightening successful fiscal conditions," and that determination are "the archetypal signs of slowing successful the planetary economy."

"Impacts that we are starting to see, unfortunately, successful the Canadian economy, peculiarly successful the Canadian labour market," helium said.  

Carney announced Thursday successful Brampton, Ont., that helium would beryllium suspending his run and returning to Ottawa to sermon Canada-U.S. relations and nationalist security. 

After Carney's March 28 telephone with Trump, helium said the 2 leaders had agreed to negociate a broad "new" economical and information narration should Carney triumph adjacent month's national election.

"I made it wide that I volition beryllium moving precise hard implicit the adjacent period to gain the close to correspond Canada successful those discussions," Carney said astatine the time. On Friday, Carney said those discussions would statesman successful aboriginal May. 

"We near instructions for officials to guarantee that the adjacent government, whichever authorities Canadians choose, volition beryllium successful the champion imaginable presumption for negotiations with the United States," Carney said successful Ottawa. 

Poilievre touts economical proposals

As portion of his three-pronged tariff plan, Trump past week announced immense "reciprocal" tariffs connected virtually each state successful the satellite but Canada and Mexico. 

The information that Canada dodged these peculiar tariffs was seen arsenic somewhat positive, with Carney saying astatine the clip that it was "the champion of a bid of atrocious deals."

Watch | Carney returns to Ottawa to sermon U.S. tariffs, fiscal markets with cabinet:

This week, Trump relented and temporarily dialled backmost the much onerous tariff rates for 90 days aft the banal marketplace tanked amid the commercialized chaos.

But Trump is inactive pushing up with a "reciprocal" 10 per cent tariff connected goods coming from astir countries, but Canada and Mexico, which were ne'er deed by these peculiar tariffs. 

Trump and China stay engaged successful their ain commercialized war, with U.S. tariffs connected Chinese goods present astatine 145 per cent and China's reciprocal tariffs present astatine 125 per cent.  

Meanwhile, Conservative Leader Pierre Poilievre was successful St. Catharines, Ont., Friday unveiling his "Canada First Economic Action Plan" that helium says volition boost economical maturation successful Canada by $500 cardinal implicit the adjacent 5 years. 

Poilievre utilized the lawsuit arsenic an accidental to item antecedently announced economical policies specified arsenic his program to rapidly o.k. earthy assets projects, region the GST from caller cars, marque lodging much affordable, physique a nationalist vigor corridor and present a reinvestment taxation credit. 

Poilievre said his economical program volition "unlock fractional a trillion dollars successful further GDP dispersed implicit the adjacent 5 years."

"This is wealth that volition spell into the pockets of our workers, this volition physique our system backmost and fortify it against the Americans," helium said. "This Canada First economical program volition beryllium similar rocket substance for the Canadian economy."