Canadian Prime Minister Mark Carney has announced a national trade plan and relief measures as Canada faces rising economic pressure from U.S. tariffs.
Canadian Prime Minister Mark Carney says he and the country’s premiers have agreed to develop a national trade strategy and announced a series of measures to support workers and businesses.
The announcement followed a meeting with provincial leaders in Ottawa, where some premiers urged the swift removal of internal trade barriers to strengthen Canada’s economic resilience.
The move comes as U.S. President Donald Trump escalated his trade war with Canada last week by imposing 25 percent tariffs on all steel and aluminum imports, prompting Canada to double its retaliatory tariffs on U.S. goods.
Carney said the federal government will waive the one-week waiting period for employment insurance for workers who lose their jobs due to the tariffs. He also announced that Canadian businesses will be temporarily allowed to defer income tax payments to improve cash flow.
Carney added that eliminating interprovincial trade barriers to the movement of workers, goods, and services could boost Canada’s economy by $250 billion—equivalent to more than $6,000 per Canadian.
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Türkiye and the United Kingdom have agreed to begin the first round of negotiations by the end of July to modernize and expand their Free Trade Agreement, aiming to boost economic ties and reflect evolving trade priorities.
Slovakia and Hungary have condemned the European Commission’s new proposal to phase out Russian energy imports by 2027, warning the move would harm EU competitiveness.
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Türkiye and the United Kingdom have agreed to begin the first round of negotiations by the end of July to modernize and expand their Free Trade Agreement, aiming to boost economic ties and reflect evolving trade priorities.
Slovakia and Hungary have condemned the European Commission’s new proposal to phase out Russian energy imports by 2027, warning the move would harm EU competitiveness.
On May 7, To Lam, General Secretary of the Communist Party of Vietnam, arrived in Azerbaijan for an official state visit.
Tensions between India and Pakistan soared after Indian airstrikes targeted sites in Pakistan and Pakistan-administered Kashmir, killing dozens and prompting threats of retaliation from Islamabad, while the UK warned that "nobody wins" if conflict escalates.
The US trade deficit reached a record $140.5 billion (€123.6 billion) in March, driven by a surge in imports, particularly pharmaceuticals, as businesses stockpiled to offset potential tariff impacts.
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