Carney to review tax code to mitigate U.S. tariffs

“Workers and businesses are already being squeezed, and this is the worst possible time for Ottawa to squeeze them harder,” said the Canadian Taxpayers Federation.

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Prime Minister Mark Carney says that the ongoing trade war has Ottawa “constantly looking at our tax system,” as President Donald Trump’s additional 50 per cent tariffs took effect on Friday.

“In terms of measures on tax and others, we are constantly looking at our tax system, how we can make it as fair as possible, shift the burden to those who are most able to pay and in a way that incentivizes investment and entrepreneurship,” Carney told reporters last week.