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VANCOUVER, British Columbia (AP) — Canada's outgoing Prime Minister Justin Trudeau on Sunday suggested that President-elect Donald Trump's remarks about Canada becoming America's “51st state” has distracted attention from the harm that steep tariffs would inflict on U.S. consumers. Trump has threatened to impose 25% tariffs on all Canadian imports. “The 51st state, that’s not going to happen," Trudeau said in an interview with MSNBC. “But people are talking about that, as opposed to talking about what impact 25% tariffs (has) on steel and aluminum coming into the United States." Trudeau told MSNBC: "No American wants to pay 25% more...

While Trump calling Canadian Prime Minister Justin Trudeau "Governor of America's 51st state" was intended as a joke, Trudeau is reportedly lobbying Trump to name him Governor of Canada. "Look, in Canada's parliamentary system I'm toast," the Prime Minister lamented. "Polls show the Liberal Party in third place with only 16% voter support. Pierre Poilievre's Conservatives are at 45%. Jagmeet Singh's New Democrats are at 21%. The Atlantic Liberal caucus of my own Party is demanding my resignation." Atlantic caucus chair and Nova Scotia MP Kody Blois insisted "it is no longer tenable for Trudeau to continue to lead our...

President-elect Donald Trump has made clear his intent to supercharge his “America First” approach to foreign policy in his second term — and Mexico looks set to be at the tip of the spear.While many of Trump’s predecessors have also followed a “realist” strategy — that is, one in which relative power is at the forefront of international relations and diplomatic success is viewed through how it benefits one’s own nation — the incoming president has displayed an apparent unwillingness to consider the pain that his plans would inflict on targeted countries or the responses this will engender.Trump’s proposed policies...

Like much of the Mexican business world, Daniel Córdova finds himself grappling with an enormous variable looming across the American border: the imminent return of Donald J. Trump to the White House.Mr. Córdova oversees a factory outside the city of Monterrey that makes heating and air-conditioning units for Trane, an American company. The last time Mr. Trump was president, he unleashed a trade war against China that proved beneficial to Mexican industry. Companies that relied on Chinese factories to make goods for the American market shifted production to plants in Mexico to avoid Mr. Trump’s tariffs.That trend, known as “nearshoring,”...

Donald Trump is having the time of his life as he barrels toward a second term in the White House after crushing Kamala Harris in the 2024 presidential election. Naturally, Trump was already reveling in his own brand of humor and confidence long before any of this came to fruition. He epically trolled Kamala Harris by working a shift at McDonald's during the campaign. Then, when Joe Biden called Trump supporters garbage, he held a press conference from a garbage truck with the Trump 2024 campaign logo on it.Just yesterday, Trump trolled Canada once again, this time suggesting that hockey...

"I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas. Otherwise, it is TARIFFS all the way," Trump posted on his Truth Social platform shortly after 1:08 a.m. ET.

The Central Bank has warned of the risks to the economy from the Trump administration imposing tariffs and tax changes which would affect US multinationals in Ireland. In its Quarterly Bulletin, the bank said any changes could affect employment in companies here, hit future investment decisions and corporation tax. “As the US is Ireland’s largest bilateral trade partner, the direct exposure of the economy and public finances to changes in US economic policy is material,” it said. It added Ireland was “particularly susceptible to changes in US policy”. It said there has been a dependence on the “substantial corporation tax...

What President Trump and the MAGA movement are doing with tariffs is not entirely original. In fact, it’s in line with tariff policy throughout history. President Trump and the MAGA movement recognize that the United States (and, frankly, the entire developed world) purchase too many imports from Mainland (Red) China, at the expense of their own domestic production. Tariffs are being used carefully and pointedly, to raise the cost of imported products so that people will buy less of them, and will instead buy from other sources — either manufacturers in countries other than China or domestic suppliers right here...

Prime Minister Justin Trudeau said Tuesday that Kamala Harris's loss in the U.S. presidential election was a setback for women's progress — and cited several recent incidents that he said suggest women's rights are under attack by "regressive" and "reactionary" political forces. In an address to an Ottawa gala for Equal Voice, an organization that works to get more women elected to public office, Trudeau said politicians who are hostile to women's rights — particularly a woman's right to choose abortion — are "winning too often, unfortunately." He said feminists like himself have to be "lucid" about the challenges ahead....

The final nail in Canadian Prime Minister Justin Trudeau’s political coffin may have been delivered on Monday morning. The person holding the metaphorical hammer? Chrystia Freeland, who had been one of the most respected and trusted ministers in the Liberal government. Freeland has been a loyal foot soldier and political confidant for Trudeau for nine years. She’s held several senior cabinet positions, serving most recently as deputy prime minister and the country’s first female finance minister. Her influence over communications, economic strategy and policy-making has been so emphatic that she was dubbed the “minister of everything”. As it turned out,...

The finance minister is an unlikely champion of the Chicago Way, but she has just pulled off a coup that may end up toppling this government.. Who saw Chrystia Freeland pulling a gun, after Justin Trudeau unsheathed a knife? ... The finance minister is an unlikely champion of the Chicago Way, but she has just pulled off a coup that may end up toppling this government. Just hours before she was due to give her fall economic statement, she quit. Despite the widespread media speculation about a falling out between Freeland and Trudeau, it’s a good bet that no one...

After nearly a decade in power, the reign of Canada’s far-left Prime MInister Justin Trudeau may finally be coming to an attend. According to sources who spoke with CTV, Trudeau is currently “considering his options” after the shock resignation of his Finance Minister Chrystia Freeland. In a public resignation letter, Freeland said that Canada faces a “grave challenge” from the incoming Trump administration, which she described as “pursuing a policy of aggressive economic nationalism, including a threat of 25 per cent tariffs.” The letter read: We need to take that threat extremely seriously. That means keeping our fiscal powder dry...

Canadian Prime Minister Justin Trudeau has avoided a snap election so far but sooner or later his time is going to run out and when it does, polls suggest he and his party are going to face a big loss to the conservatives. Today the Free Press published a story helping to explain why so many young voters have turned on Trudeau. As the saying goes, it's the economy, stupid.At University Hospital in London, Ontario, Amanda Vanderley, 25, works grueling 12-hour shifts as an emergency room nurse. Each day includes not just providing critical care and assisting doctors with emergency...

Chrystia Freeland, Canada's finance minister, said in an explosive letter published Monday morning that she will quit cabinet. It has ignited a storm of confusion on Parliament Hill, coming the same day she was set to table her fall economic statement – a delayed document that typically includes key economic metrics such as the size of Canada's deficit. Follow along for live updates: 1:30 p.m. EST: Fall economic statement set to go forth The Department of Finance has confirmed that the fall economic statement lockup will begin at 1:45 p.m. EST, with Deputy Minister Chris Forbes providing remarks at 2...

Canadian Prime Minister Justin Trudeau is reportedly considering submitting his resignation after a public battle over the economy amid U.S. President-elect Donald Trump's tariff threats. Sources told CTV News that Trudeau told his cabinet that he was considering prorogation or resignation and potentially planning to address Parliament this afternoon. Canada's Deputy Prime Minister Chrystia Freeland quit Monday morning in a surprise move after disagreeing with Trudeau over the threats. In a post on X, she said that she was offered a different position, but upon reflection just assumed she'd leave. Want more breaking political news? Click for the latest headlines...

Canada's Finance Minister Chrystia Freeland has resigned from her post, citing disagreements with Prime Minister Justin Trudeau on how to respond to incoming President Donald Trump's threat of tariffs. She announced her resignation in a letter to Trudeau on Monday, in which she said the two have been "at odds about the best path forward for Canada", and pointed to the "grave challenge" posed by Trump's policy of "aggressive economic nationalism". Freeland said the decision comes after Trudeau informed her last week that he no longer wanted her to be his government's top economic adviser. Her resignation came hours before...

Ontario premier spoke after Prime Minister Justin Trudeau met with Canada's premiers Wednesday Premier Doug Ford says Ontario could cut off energy to the U.S. if president-elect Donald Trump makes good on a threat to impose steep tariffs on Canadian goods. Ford told reporters at Queen's Park that federal Finance Minister Chrystia Freeland will put together a list of items upon which Canada could impose retaliatory tariffs and so will Ontario government. "We will go to the full extent depending how far this goes. We will go to the extent of cutting off their energy, going down to Michigan, going...

One key motivation for imposing tariffs on imported goods is to protect U.S. firms from foreign competition. By taxing imports, domestic prices become relatively cheaper, and Americans switch expenditure from foreign goods to domestic goods, thereby expanding the domestic industry. In a recent Liberty Street Economics post, we highlighted that our recent study found large aggregate losses to the U.S. from the U.S.-China trade war. Here, we delve into the cross-sectional patterns in search of segments of the economy that may have benefited from import protection. What we find, instead, is that most firms suffered large valuation losses on tariff-announcement...

I do not have an economics degree from Boston University, like AOC, and I’m not a professional economist by trade. I only play one. Nevertheless, here are five cases for Trump’s tariffs.1. As we saw last week with his new tariffs on Mexico, Canada, and China, Trump’s plan is to use tariffs punitively, to alter behavior.The president-elect said that he would impose across-the-board tariffs on Day 1 and that they would stay in place until Canada, Mexico and China halted the flow of drugs and migrants.All three countries have wittingly produced fentanyl (China) or aided in the smuggling and distribution...

President-elect Trump suggested to Canadian Prime Minister Justin Trudeau last week that if a tariff for failing to address trade and immigration issues would kill the neighbor to the north’s economy, maybe it should become the 51st state, sources told Fox News. Last Friday, Trudeau flew to Mar-a-Lago unannounced after Trump threatened to impose sweeping tariffs on Canadian products. Specifically, Trump is threatening to impose 25% tariffs on Canada and Mexico over their failures to curb the flow of illegal immigrants and illicit drugs from those countries into the U.S. Now, new details are beginning to emerge about the meeting...