Mark Carney News

Gold prices scaled a record peak on Friday as concerns over U.S. President Donald Trump's fresh tariff plans ignited fears of a global trade war, driving a rush towards the safe-haven allure of the precious metal.

Donald Trump's steep tariffs on imported vehicles and parts, vowing retaliation as a widening trade war intensifies, as per a report. Major car exporter Germany urged a firm response from the European Union, while Japan said it «will consider all options», AFP reported. The US duties take effect starting April 3 and impact foreign-made cars and light trucks. Key automobile parts will also be hit within the month. Global stock markets plummeted with automakers like Toyota, Hyundai and Mercedes leading the plunge. In New York, shares in General Motors tumbled with Ford and Stellantis also declining. France Finance Minister Eric Lombard condemned the «hostility,» saying the only solution for the European Union is to «raise tariffs on American products in response.»

Ontario Premier Doug Ford is urging a collective “team Canada approach” from Canada's provinces following US President Donald Trump's announcement to introduce a 25% tariff on car imports, as per CTV News.

Last week, Pierre Cléroux of the Business Development Bank of Canada wrote here that for the first time in 15 years of making economic outlook presentations, he’s getting unprompted questions about productivity. It seems Canadians are having an “Aha!” moment about productivity, thanks to U.S. President Donald Trump’s tariff attack on their bottom lines.

Mark Carney and Conservative leader Pierre Poilievre, as per reports. A new poll finds who might win to tackle issues the country is facing with the US president Donald Trump.

Subscribe to enjoy similar stories. Canada’s Prime Minister Mark Carney called for elections on April 28, 2025. (Photo by Andrej Ivanov/Getty Images) New Canadian Prime Minister Mark Carney called for a snap election in late April as the country steels itself to respond to President Donald Trump’s threatened tariffs and repeated calls for it to become the U.S.’s “51st state." Carney was sworn in less than two weeks ago to succeed Justin Trudeau.

Subscribe to enjoy similar stories. Mark Carney, sworn in as the 24th Prime Minister of Canada on Friday, is a newbie in the world of politics. But then, so was the late Manmohan Singh, till former Prime Minister Narasimha Rao made him our finance minister in 1991.

Mark Carney, who navigated crises when he was the head of the Bank of Canada from 2008, and then in 2013 when he became the first noncitizen to run the Bank of England — helping to manage the worst impacts of Brexit in the U.K. — will now try to steer Canada through the trade war brought by Trump. Mark Carney's path to the top job in Canadian politics has been unusual but, as he said when he launched his campaign to succeed Prime Minister Justin Trudeau, so are the circumstances. Former central banker Mark Carney was sworn in as Canada’s new prime minister on Friday, and will now try to steer his country through a trade war brought by U.S. President Donald Trump, a threat of annexation and an expected federal election. Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remained in power until the Liberal Party elected a new leader. Carney is widely expected to trigger a general election in the coming days or weeks. Carney has called the threats posed by US President Donald Trump «the most serious crisis of our lifetime.»

The ruling Liberal Party overwhelmingly backed Carney to replace Justin Trudeau, betting his experience leading two central banks through historic crises will re-assure Canadians facing a potentially devastating trade war. Carney, who turns 60 on Sunday, is a political novice who has never won an elected public office but his campaign skills will be tested soon with Canada likely headed for a general election in weeks. The threats posed by Trump are expected to dominate the vote. The US president has sought to bludgeon Canada, imposing sweeping import tariffs and threatening further levies while claiming the country is not «viable» on its own and should be annexed by Washington.

Anand Mahindra reflected on his past interaction with Mark Carney, Canada’s Prime Minister-designate, recalling a meeting at the Mahindra headquarters in Mumbai in 2017. At the time, Carney was serving as the Governor of the Bank of England and was part of a delegation led by the then Chancellor of the Exchequer. Mahindra described Carney as an intellectual with a sharp wit, someone who balances intelligence with a straightforward and pragmatic approach. As Carney prepares to take on the leadership of Canada, Mahindra acknowledged the immense challenges ahead, particularly in today’s complex global landscape. However, he expressed confidence in Carney’s ability to navigate the responsibilities of the role effectively.

Donald Trump’s administration are watching Canada to get a preview of what happens when you hit back. Canadian officials have gone hostile in their responses to Trump’s trade war. Ontario Premier Doug Ford slapped a 25% charge on electricity exports to make power more expensive for people in New York and two other states — earning the president’s ire. Mark Carney, the incoming prime minister, called the US “a country we can no longer trust,” and said his new government will keep its retaliatory tariffs in place “until the Americans show us respect.” On Tuesday, the brinkmanship seemed to pay off: Trump started the day threatening to double tariffs on Canadian steel and aluminum to 50%, but by day’s end both sides had pulled back. Ford suspended the electricity tax, prompting Trump to say “I respect that” and drop the metals levy back to 25%. Trump’s tariffs on steel and aluminum — which came into force on US imports on Wednesday — drew a swift response from Canada and the European Union. The government in Ottawa announced new 25% counter-tariffs on about C$30 billion ($20.8 billion) of US-made items, while Brussels laid out countermeasures against US goods worth as much as €26 billion ($28.3 billion). But other metals-exporting countries including Japan and South Korea held off on any immediate retaliation. Even before that widening of the trade war, Mélanie Joly, Canada’s foreign minister, had issued a warning to other nations. Watch what Trump is doing to Canada, she said. “You’re next.”

Justin Trudeau was seen leaving the House of Commons in Ottawa carrying a chair, with his tongue sticking out. The humorous scene quickly gained traction across social media platforms, sparking widespread attention. On Monday, Justin Trudeau met with Liberal leader and prime minister-designate Mark Carney to start the transition of power after Carney's landslide win at the Sunday party election.

United States President Donald Trump’s tariff war has become a complicated roller coaster of international trade disputes.

In his victory speech, he said: «When we come together, we build things that last, because we are Canada strong.» Stocks plunge as Donald Trump slaps tariffs on US trading partners Carney also took on Donald Trump and his trade war in his speech, arguing the US president «thinks he can weaken us with his plan to divide and conquer». «The Americans want our resources, our water, our land, our country. If they succeeded, they would destroy our way of life […] and Canada never, ever will be part of America in any way, shape or form.» The incoming prime minister continued: «The Cana...

Liberal Party members look set to pick former central bank governor Mark Carney as the new party leader and Canada's next prime minister in a vote to be announced on Sunday evening. Carney, 59, navigated crises when he was the head of the Bank of Canada and when in 2013 he became the first noncitizen to run the Bank of England since it was founded in 1694. His appointment won bipartisan praise in the U.K. after Canada recovered from the 2008 financial crisis faster than many other countries.

WHY DOES THERE NEED TO BE A RACE? Unlike in Australia and Britain, where prime ministers are chosen by legislators and can be removed very quickly, the heads of political parties in Canada are chosen by members in special contests. Trudeau's resignation automatically triggered a leadership race. The new head of the Liberal Party will become the new prime minister.

No good deed goes unpunished, but the Liberals are hoping bad deeds will be forgotten. Thus their leadership candidates are running against their own party’s record. For that to work, they’ll have to convince Canadians not to believe their lying eyes.

Last month, former Bank of Canada governorMark Carney appeared poised to become the country’s next finance minister. Now, he has an even bigger post in his sights.

Subscribe to enjoy similar stories. OTTAWA-Since Justin Trudeau said he would resign as prime minister, one Canadian politician after another has looked at running to lead the Liberal Party into new elections that polls show it will lose badly and said: “Not me." Now a prominent name is finally hinting he will run-Mark Carney, a familiar face to the world of finance as the former governor of both the Bank of Canada and the Bank of England and current chairman of Brookfield Asset Management. In an appearance Monday night on the Daily Show, he suggested "without mentioning his potential candidacy" that the party could benefit from an outsider with experience in economics and finance to help guide the Canadian economy at a precarious moment, given the threat by President-elect Donald Trump to slap a 25% tariff on all Canadian imports.

Former central banker Mark Carney is poised to announce that he’s jumping into the race to succeed Justin Trudeau as leader of the Liberal Party and Canadian prime minister.

According to a statement provided to the Financial Times, Carney said he «will be considering this decision closely with my family over the coming days». Over the last few months, there has been plenty of speculation regarding Carney's ambitions to take Canada's top political job, following disappointing polling figures for the Liberal party. Mark Carney's Brookfield AM raises $10bn for global net zero transition fund This intensified following Trudeau's resignation as prime minister on Monday (6 January) after more than nine years in the job, amid several calls for him to step dow...