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.

Ex-central banker Mark Carney was sworn in as prime minister of Canada on Friday (March 14) and immediately said he could work with U.S. President Donald Trump, who is promising tariffs that could devastate the Canadian economy.

In talks aimed at finding common ground on tariffs, Canadian officials were told April 2 will be a crucial day in setting the Trump tariff doctrine, and any relief could come later.

Top diplomats from the Group of 7 industrialized democracies on Friday were wrapping up their final day of talks that have been overshadowed by U.S. President Donald Trump’s trade and foreign policies as well as his repeated taunts toward host Canada.

Canada will impose retaliatory tariffs on U.S. imported goods worth C$29.8 billion ($20 billion) effective on Thursday in response to U.S. President Donald Trump's steel and aluminum tariffs, Canada's Finance Minister Dominic LeBlanc said.

After a fresh wave of tariffs from the United States, Canada and the European Union said they would impose billions in levies on U.S. goods.

Canada will announce Canadian $29.8 billion or $20.7 billion in retaliatory tariffs in response to the 25% steel and aluminum tariffs that U.S.

Canada and Mexico A 25% import tariff on goods from Mexico and Canada took effect March 4, with an exception for energy products and potash, which received a 10% tariff. The next day, the Trump administration suspended those tariffs until April 2 for autos eligible for duty-free trade under the U.

Negotiations with Canada and Mexico are said to be moving ahead, but President Trump is still playing hardball over tariffs with the EU and China