Carney walks back tough trade talk, nullifying most retaliatory U.S. tariffs
Exemptions announced by Prime Minister Mark Carney have effectively nullified most of the retaliatory tariffs Canada had imposed on trade with America.
Exemptions announced by Prime Minister Mark Carney have effectively nullified most of the retaliatory tariffs Canada had imposed on trade with America despite previously pledging to support “maximum impact” trade measures.
According to Oxford Economics, the carve-outs cancel out nearly all of the retaliatory tariffs that Trudeau and Carney both introduced in response to the Trump administration.
Although the move may help alleviate some inflation, economists say Canada may still see a recession before the end of the year.