WebinarsNew
Deep DiveNew
Explore Business Standard
US-Canada
Prime Minister Mark Carney said Thursday that Canada is intensifying negotiations with the United States to reach a comprehensive trade deal but is prepared to respond should President Donald Trump's threat of 50 per cent tariffs on Canadian goods comes into affect. The new tariffs, announced by Trump on Monday, are scheduled to come into effect Aug 19. "If these tariffs, or other measures come into force, there's a full range of things that we can do in that regard," Carney said after meeting with Canada's premiers and territorial leaders in Charletown, Prince Edward Island. Carney said "everything's on the table" if an agreement can't be reached before the tariffs kick in. "We don't need to respond in advance," he said. "In fact, I think it would be counterproductive at this stage to respond in advance." The new tariffs cover a wide range of goods, including honey, liquor, cement, dairy products, some wood products, hockey sticks and other items. They exclude energy products, ..
US President Donald Trump on Monday imposed 50 per cent tariffs on most Canadian goods, declaring that Canada has unfairly discriminated against American autos, alcohol and dairy products. The move could unleash a new wave of economic chaos, with risks of higher inflation and further fraying of relations between two nations that had been closely woven together before Trump's return to the White House. The administration official previewing the action said that Canada was one of the only nations other than China that retaliated against Trump's previous tariffs and must be held accountable. The official insisted on anonymity on a call with reporters to preview the president's actions and said that Trump signed three proclamations to launch the tariffs under Section 338 of the 1930 Trade Act. Several Democratic lawmakers last year proposed repealing the section because they said Trump could use it to destabilize the economy. The 50 per cent tariffs would exclude energy products, potash
Canadian Prime Minister Mark Carney said Sunday US restrictions on Anthropic's newest AI models show the dangers of overreliance on a limited number of American providers. AI giant Anthropic said Friday it has taken its latest artificial intelligence models, known as Fable 5 and Mythos 5, offline to comply with a directive from the Trump administration to prevent their use by foreign nationals. The export controls mark the US government's most significant step to date to restrict access to the most advanced AI models. Anthropic released Fable widely this week. That model is a limited version of the even more advanced Mythos, to which the company has tightly limited access due to cybersecurity fears. "The situation we're in collectively right now with Mthos and Fable is something that can happen with overreliance on certain models" Carney said. "Nobody has done anything wrong in the situation. But we will have done something wrong if we just accept this, don't take the lesson, don't
Canadian Prime Minister Mark Carney called for a new partnership with the United States on Thursday, just weeks before President Donald Trump decides on whether to renew the free trade agreement between the countries. Carney said in a speech at the Economic Club of New York that there should be a "true partnership" that re-imagines cooperation in specific sectors challenged by global competition. He made the remarks ahead of the mandatory review of United States-Mexico-Canada Agreement, or USMCA, in July. Carney said Canada is diversifying away from the US and signing trade deals with dozens of countries around the world. "Our core objective across these partnerships is to increase our strategic autonomy. Because we live in a world where integration has been weaponised. Because a country that cannot feed, fuel or defend itself is not truly sovereign," Carney said. Trump's actions -- including launching a trade war and suggesting Canada become the 51st US state -- have infuriated .
Canadian Prime Minister Mark Carney secured a majority government with a special election outcome Monday night, allowing his Liberals to pass legislation without the support of opposition parties. Voters cast ballots for three vacant seats of the 343 districts represented in Parliament. The public Canadian Broadcasting Corporation projected a Liberal win in a Toronto district. Results for two other districts are expected Monday night. Carney won Canada's election last year fueled by public anger over US President Donald Trump's annexation threats. His Liberal party could stay in power until 2029 after Monday's results. Five defections from opposition parties to Carney, including four from the main opposition Conservative party, put Carney's Liberals on the cusp of the majority. Before Monday's results, the Liberals had 171 members of Parliament in the House of Commons. One of those defectors referenced Carney's speech at the World Economic Forum in Davos, Switzerland, as helping
Canadian regulators have approved Gulfstream G700 and G800 business jets in a move that comes weeks after new tariff threats from US President Donald Trump over the planes' status in Canada. A Transport Canada database shows that it certified the American company's latest private planes on Monday, roughly a week after green-lighting two older Gulfstream models. Marie-Justine Torres, a spokeswoman for Canada's transport minister, confirmed on Tuesday that the certification was granted by Transport Canada. Trump threatened last month to decertify and place tariffs on all Canadian-built planes unless the government approved Gulfstream business jets. The go-ahead from Transport Canada came despite deicing concerns flagged by the US Federal Aviation Administration, which granted the G700 and G800 conditional certification in 2024. The FAA said that Gulfstream, owned by General Dynamics, has until the end of this year to prove that the two plane types function "properly ... where ice ma
President Donald Trump on Thursday threatened Canada with a 50 per cent tariff on any aircraft sold in the US, the latest salvo in his trade war with America's northern neighbour as his feud with Prime Minister Mark Carney expands. Trump's threat posted on social media came after he threatened over the weekend to impose a 100 per cent tariff on goods imported from Canada if it went forward with a planned trade deal with China. But Trump's threat did not come with any details about when he would impose the import taxes, as Canada had already struck a deal. In Trump's latest threat, the Republican president said he was retaliating against Canada for refusing to certify jets from Savannah, Georgia-based Gulfstream Aerospace. Trump said the US, in return, would decertify all Canadian aircraft, including its Bombardier. "If, for any reason, this situation is not immediately corrected, I am going to charge Canada a 50 per cent Tariff on any and all Aircraft sold into the United States of
Canadian Prime Minister Mark Carney said Sunday his country has no intention of pursuing a free trade deal with China. He was responding to US President Donald Trump's threat to impose a 100% tariff on goods imported from Canada if America's northern neighbour went ahead with a trade deal with Beijing. Carney said his recent agreement with China merely cuts tariffs on a few sectors that were recently hit with tariffs. Trump claims otherwise, posting that "China is successfully and completely taking over the once Great Country of Canada. So sad to see it happen. I only hope they leave Ice Hockey alone! President DJT" The prime minister said under the free trade agreement with the US and Mexico there are commitments not to pursue free trade agreements with non-market economies without prior notification. "We have no intention of doing that with China or any other non-market economy," Carney said. "What we have done with China is to rectify some issues that developed in the last coup