Tariffs Sparking Economic Uncertainty: Canadian Economy at Risk

Rising U.S. recession odds due to President Trump's tariffs could severely impact Canada's economy, stated Prime Minister Mark Carney. In a news conference, Carney expressed confidence in discussions with Bank of Canada Governor Tiff Macklem and Finance Minister Francois-Philippe Champagne amidst market disruptions.

Prime Minister Mark Carney warned on Monday that the likelihood of a recession in the United States has increased substantially due to President Donald Trump's tariff policies, which could have a detrimental effect on the Canadian economy.

During a televised news conference, Carney revealed that he had engaged in discussions with Bank of Canada Governor Tiff Macklem and Finance Minister Francois-Philippe Champagne about ongoing market turbulence.

Despite the economic challenges, Carney expressed confidence in Macklem and Champagne to navigate through the uncertainties.

(With inputs from agencies.)