Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
Wildpier Dermaplaning Tool Buy Now
Ayieyill Corduroy Tote Bag for Women Buy Now
Summer Tops Double Lace Sleeve Shirts for Women Buy Now
Cremo Italian Bergamot Body Wash Buy Now
Bliwov Cap Sleeve Tank Tops Buy Now
4-in-1 Retractable Car Charger (69W USB-C) Buy Now
Lee Extreme Motion Pants Buy Now
Satin Silk Pajama Set for Women Buy Now
OLEVS Women Watches Buy Now
T-Shirt Beefy-T Heavyweight Buy Now
Levi's Women's Mid Length Shorts Buy Now
5pc Turtleneck Long Sleeve Tees Buy Now
5-Pack Dry Fit T-Shirts Buy Now
KODAK PIXPRO AZ405 Digital Camera (20MP, 40X Zoom) Buy Now
HD Sound Bluetooth Speaker Buy Now
Stretchy Straight Leg Dress Work Pants Buy Now
Anne Klein Diamond Bangle Watch Buy Now
Long Sleeve Open Front Cardigan Buy Now
London Fog Men's Auburn Golf Jacket Buy Now
Men’s Premium Skin Care Kit Buy Now
MoreBack to News Headlines
Carney lays out plan to help economy along amid Trump-induced market chaos

Carney lays out plan to help economy along amid Trump-induced market chaos

CBC
Tuesday, April 8, 2025 3:33 AM GMT

Liberal Leader Mark Carney said Monday he has a plan to prop up the Canadian economy as the U.S. careens toward a recession resulting from President Donald Trump's aggressive tariff actions, creating what Carney called a "financial crisis" that has the potential to undo the international trading system.

Carney said he got Canada through the 2008-09 financial crisis and helped the U.K. deal with the fallout from Brexit as the central banker for each country — and he can do it again as prime minister in this perilous moment.

Meanwhile, Conservative Leader Pierre Poilievre took aim at Carney on Monday, saying the Liberal leader's "trophy titles" are not enough and he can't be trusted because he supported policies like a carbon tax in the past. "We need a new Conservative government for a change," Poilievre said.

The Canadian and U.S. stock markets have been volatile since Trump announced unexpectedly high tariffs on virtually every country in the world last week, a policy decision that has wiped out trillions of dollars of wealth and prompted extreme anxiety among some retirees.

Carney said he won't "sugarcoat" what's to come in the weeks ahead if Trump doesn't pull back from some of his more aggressive measures like huge tariffs on goods coming from the European Union, China, Vietnam and others — not to mention those already levied on Canada and Mexico.

"There may be some tough days ahead, but I also want to reassure that we are prepared," Carney said.

Carney said he spoke to the governor of the Bank of Canada and the finance minister Monday to check in on the economic welfare of the country and its financial institutions amid huge swings in the stock and commodities markets.

Carney said Canada's financial institutions are "rock solid," and there's no major issue with global banks as there was during the Great Recession.

Instead, Carney said the panic is now driven exclusively by Trump and his tariffs, which he said will be "fundamentally damaging."

He said the risk of a U.S. recession has "gone up significantly," and he "takes no joy in it becoming more likely."

"What's going on is a direct consequence of President Trump's unjustified tariffs against Canada, Mexico and then the world," Carney said. "This is what we have be concerned about, and indeed this is what we've been trying to warn the president of the United States about."

In the short term, Carney said he has relaxed employment insurance requirements to get cash to laid-off workers right away, and he's deferring corporate tax payments and GST remittances to give companies some liquidity. The Business Development Bank of Canada (BDC) will also deploy more capital to tariff-affected industries.

To help seniors who are fearful of selling investments in a down market, Carney said if re-elected, his government would reduce the amount of money retirees must withdraw from their registered retirement income fund (RRIF) by 25 per cent. He's also promising to top up the guaranteed income supplement to throw low-income seniors a lifeline.

Over the medium term, Carney said a re-elected Liberal government would "accelerate major investments" to spur economic growth, adding Canada should build out natural resources projects to wean itself off U.S. and other foreign energy supplies.

Read full story on CBC
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Mental health court to expand to Moncton next year

A program that has existed in Saint John for years is expanding to Moncton.

Why doctors say pregnant people should be extra careful during a heatwave

With extreme heat and humidity creating dangerous conditions across the Greater Toronto Area, doctors are warning pregnant people about the serious health risks heat waves pose to them. 

Hope and fear among Iranian Montrealers as they brace for what's next

Atena Barforoushi couldn't do much from Montreal but dial and re-dial her mother's number for days as she watched the war between Israel and Iran, her home country, escalate last week.

Manitoba lifts provincewide state of emergency as wildfire conditions improve

A provincewide state of emergency is no longer in effect due to improving wildfire conditions, though risks remain for over a dozen communities that still aren't clear of wildfire threats.

'Beyond devastating': Residents of Denare Beach, Sask., start returning home

For Alannah Skot, returning to Denare Beach, Sask., has been both painful and therapeutic.

Inquest into death of Sask. man shot by police near Belle Plaine in 2022 begins

A coroner's inquest into the death of 26-year-old Ryan Booker, who was fatally shot by police near Belle Plaine, Sask., started Monday.

B.C. Conservative Leader John Rustad to face scheduled leadership review amid infighting

B.C. Conservative Leader John Rustad is set to face a leadership review this summer as the province's centre-right party is embroiled by allegations of blackmail and by two splinter parties.

Alberta NDP Leader Naheed Nenshi heading for legislature after byelection win

Alberta NDP Leader Naheed Nenshi has won a byelection in Edmonton-Strathcona, according to unofficial results posted online by Elections Alberta.

5 types of presumptive cancer to be added to coverage list for P.E.I. firefighters

The Workers Compensation Board of P.E.I. has added five more presumptive cancers for which Island firefighters are eligible to receive health coverage, bringing the total to 19.

'Like my big brother': Survivor of Banff rockfall says friend who died saved him

A survivor of a rockfall last week in Banff National Park is remembering his 33-year-old roommate, who didn't make it out alive from under the rubble, as a kind and generous friend.

Hundreds of Canadians have fled Middle East but thousands more remain: officials

Hundreds of Canadians and permanent residents have fled the Middle East as the war between Israel and Iran continues to escalate — but officials estimate there are thousands still in the region.

TTC backs away from platform edge door pilot project at Dundas station

The TTC is backing away from a pilot project that would see platform doors installed at Dundas station next year, saying it will instead ask a committee to consider the measure as part of its 2026 budget priorities.

Trump says Israel and Iran have agreed to a ceasefire

U.S. President Donald Trump announced that Israel and Iran had agreed to a "complete and total ceasefire" soon after Iran launched a limited missile attack Monday on a U.S. military base in Qatar, retaliating for the American bombing of its nuclear sites.

Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Islanders advised to take precautions as temperatures soar

It's a scorcher out there today.

Teen dies after police believe she jumped into Thames River in Chatham with another girl

The body of a 17-year-old girl has been recovered from the Thames River in Chatham.

Lululemon theft ring revealed: Organized crew suspected behind wave of shoplifted gear

Court documents obtained by CBC detail the inner workings of a multi-level organized ring of stolen goods traffickers allegedly directing prolific shoplifters who have stolen hundreds of thousands of dollars worth of clothes from Lululemon stores across the Lower Mainland.

New shelter village site sought by City of Thunder Bay following safety assessment

The City of Thunder Bay is resuming its search for a site for its proposed temporary shelter village.

Scorching temperatures keep hammering GTA, heat warning expected to end Tuesday night

The Greater Toronto Area is sweltering through another day of blistering heat, but Environment Canada says the region should see some relief Tuesday night.

How 3 words helped find a Cambridge, Ont., woman lost in the woods

Speedboat. Overdid. Cameos.

Potato farmers in P.E.I. asking golfers to practice their swing away from fields

Many golf courses on Prince Edward Island are close to potato fields, and that means an errant tee shot could lead to problems for farmers. 

A year after the Eagle mine failure, questions remain about Yukon's mining future

To Frank Patterson, a First Nations elder in Mayo, Yukon, last year's catastrophic failure at the nearby Eagle gold mine was not a total surprise.

U.S. expecting NATO members to show them the money at leaders' summit

Short and sweet is not usually a phrase associated with the annual NATO leaders' summit, but arguably that's what many member nations are hoping for as U.S. President Donald Trump returns to the table. 

E-scooter, e-bike injuries becoming more common, and severe, area hospitals say

London's hospitals are facing an uptick in both the frequency and severity of injuries involving electric scooters and bikes as the machines become more affordable and popular, according to both a doctor and an injury prevention specialist in the region.

Overdue boater found dead on Bonavista Peninsula shoreline

A man who was reported overdue from a boating trip out of Bloomfield on Newfoundland's Bonavista Peninsula was found dead on a shoreline in nearby Brooklyn, according to the RCMP.

Driver charged after senior left in bus for more than 7 hours

The daughter of an 81-year-old man who was left alone inside a public transit vehicle for about 7½ hours says she has many questions about what led to the incident.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us