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Time of India
7 days ago
- Business
- Time of India
Prime Minister Mark Carney welcomes US court ruling striking down Trump's tariffs, calls it a 'vindication' of Canada's trade position
Prime Minister Mark Carney is welcoming a major US court ruling that struck down sweeping tariffs imposed on Canada and other nations under President Donald Trump , calling it a 'vindication' of Canada's longstanding position against the measures. The US Court of International Trade ruled Wednesday(May 28) that Trump overstepped his presidential powers under the International Emergency Economic Powers Act (IEEPA), saying the law does not authorize broad-based tariffs without clear links to a national emergency. The court invalidated Trump's controversial 'Liberation Day' duties and fentanyl-related tariffs, which had targeted Canada, Mexico, and China Also Read: Which Trump trade tariffs were overturned in a seismic court ruling, which ones remain 'This decision is consistent with Canada's long-standing position that the US IEEPA tariffs were unlawful as well as unjustified,' Carney told MPs in the House of Commons on Thursday(May 29). Live Events Carney emphasized that while this is a positive development, Canada's economic relationship with the US remains under threat from other protectionist measures. 'Our trading relationship with the United States is still profoundly and adversely threatened by unjustified tariffs on steel, aluminum and the auto sector,' he warned. The tariffs, imposed under different US laws citing national security concerns, remain in place, which serves as a point of ongoing concern for Canadian industry and policymakers. Carney vowed that the new federal government would make it a top priority to 'establish a new economic and security relationship with the United States and to strengthen our collaboration with reliable trading partners and allies around the world.' The ruling also landed with a sense of cautious optimism among Canadian business leaders. 'This is not the end of the trade war,' said Candace Laing, president of the Canadian Chamber of Commerce. 'Business is still looking for stability. Ultimately, the end of this trade war with the US will not come through the courts. It will come when we have negotiated a durable new agreement on trade that is trusted and respected by all involved.' Response from the Trump administration The Trump administration immediately filed a notice of appeal, with White House officials slamming the ruling. Trump himself has yet to comment, but his allies have called the court's decision an overreach by 'unelected judges.' Still, for now, Canadian officials are taking the win. As Bloc Québécois Leader Yves-François Blanchet put it, the ruling 'gives Canada a better position' heading into future trade talks.
Yahoo
7 days ago
- Business
- Yahoo
Canada 'not out of the woods' yet after court rules against some of Trump's tariffs
While Ottawa is welcoming a U.S. federal court decision that would block President Donald Trump's fentanyl-related tariffs against Canada, experts say local businesses are "not out of the woods" yet. On Wednesday, a decision by the U.S. Court of International Trade said Trump does not have the authority to wield tariffs on nearly every country through the use of the International Economic Emergency Powers Act of 1977 — a national security statute that gives the president authority to control economic transactions after declaring an emergency. The Trump administration filed a notice of appeal soon after the ruling came down from a three-judge panel. Toronto lawyer Sean Stephenson of Dentons, whose practice focuses on international trade and sanctions, cautions that "nothing changes overnight" with this ruling, especially given the appeal process that awaits. Even if the ruling is eventually upheld, he says Trump could potentially try to use a number of alternative levers at his disposal to reimpose tariffs against Canada and other countries that were ruled unconstitutional under the emergency justification. Business groups in Canada also say they don't feel the ruling brings any new certainty in the immediate term, with the Canadian Chamber of Commerce adding that "ultimately, the end of this trade war with the U.S. will not come through the courts" but rather through a new negotiated agreement. This report by The Canadian Press was first published May 29, 2025. Sammy Hudes, The Canadian Press Sign in to access your portfolio
Winnipeg Free Press
7 days ago
- Business
- Winnipeg Free Press
Canada ‘not out of the woods' yet after court rules against some of Trump's tariffs
While Ottawa is welcoming a U.S. federal court decision that would block President Donald Trump's fentanyl-related tariffs against Canada, experts say local businesses are 'not out of the woods' yet. On Wednesday, a decision by the U.S. Court of International Trade said Trump does not have the authority to wield tariffs on nearly every country through the use of the International Economic Emergency Powers Act of 1977 — a national security statute that gives the president authority to control economic transactions after declaring an emergency. The Trump administration filed a notice of appeal soon after the ruling came down from a three-judge panel. Toronto lawyer Sean Stephenson of Dentons, whose practice focuses on international trade and sanctions, cautions that 'nothing changes overnight' with this ruling, especially given the appeal process that awaits. Even if the ruling is eventually upheld, he says Trump could potentially try to use a number of alternative levers at his disposal to reimpose tariffs against Canada and other countries that were ruled unconstitutional under the emergency justification. Monday Mornings The latest local business news and a lookahead to the coming week. Business groups in Canada also say they don't feel the ruling brings any new certainty in the immediate term, with the Canadian Chamber of Commerce adding that 'ultimately, the end of this trade war with the U.S. will not come through the courts' but rather through a new negotiated agreement. This report by The Canadian Press was first published May 29, 2025.
Korea Herald
14-05-2025
- Business
- Korea Herald
Carney unveils cabinet aimed at urgently resetting US-Canada ties
Canadian Prime Minister Mark Carney, who won an election last month vowing to stand up to United States President Donald Trump, unveiled a new cabinet on Tuesday that he said would help urgently define a new relationship with Washington. Carney cut the number of ministers to 29 from the 39 under predecessor Justin Trudeau, but kept some key players in their positions, such as Finance Minister Francois-Philippe Champagne and Dominic LeBlanc, who is in charge of US trade. Carney met Trump in Washington last week but did not secure any removal of tariffs the president has imposed on Canadian exports. "Our government will deliver its mandate for change with urgency and determination," Carney told reporters. "Our workers and businesses continue to face the unfair tariffs imposed by the United States. My government will fight for Canadians." Carney says Canada must spend billions to start shifting the economy's focus away from the United States as well as end barriers to internal trade and cut public spending. "The business of government must be business ... (we are) eager to work with the new government and all parties to tackle urgent nation-building goals," said Matthew Holmes, policy chief at the Canadian Chamber of Commerce, calling for action on issues such as regulatory reform and trade diversification. Melanie Joly moves from Foreign Affairs to Industry after four years and is replaced by Anita Anand. Chrystia Freeland, whose resignation as finance minister last December helped oust an increasingly unpopular Trudeau, keeps her job as minister of transport and internal trade. Former Goldman Sachs banker Tim Hodgson takes over as natural resources minister. "For the Canada-US relationship, it was very important for Prime Minister Carney to position smart, tough, and experienced people in the key portfolios ... (he) has done just that," said Cameron Anderson, politics professor at Western University in London, Ontario. As well as the cabinet ministers, Carney named 10 junior secretaries of state. His immediate promises are a tax cut and ending all trade barriers among the 10 provinces by July 1. His platform, which promises additional spending of around $93.2 billion over the next four years, predicts that the 2025-26 deficit will be far higher than forecast in December. Carney abolished the position of labor minister and replaced it with a secretary of state for labor, a move the Teamsters union called deeply confusing and concerning. "It suggests the Carney government is underestimating the scale of the challenges facing Canadian workers in the years ahead," union spokesperson Christopher Monette said by email. The Trudeau government had to deal with several major labor disputes and last year intervened to end separate strikes by port, railway and postal workers. In the election, Carney's Liberals came within two seats of winning a majority in the House of Commons. The opposition Conservatives had been 20 points ahead in the polls in January but dropped off sharply after Trudeau quit and Trump imposed tariffs while musing about the annexation of Canada. "So far it's not a promising start. The first disappointment is unfortunately his cabinet -- he appointed Trudeau's old team," Conservative leader Pierre Poilievre told reporters. "It's more of the same when Canada needs real change." (Reuters)
Hamilton Spectator
12-05-2025
- Business
- Hamilton Spectator
Business community eyeing new cabinet for signs Carney is shifting priorities
OTTAWA - Canada's business community will be watching Tuesday's cabinet shuffle closely for signs that Prime Minister Mark Carney will be easier to work with than the last Liberal government. Business leaders say they want the new prime minister to use his cabinet lineup to extend an olive branch to Western Canada and to back up his claim that he wants to build up Canada's energy sector and launch nation-building projects. Matthew Holmes, head of public policy at the Canadian Chamber of Commerce, said he wants to see business and international experience reflected in the new cabinet after Carney vowed to bring about big changes quickly. 'If he's going to do that, who has demonstrated the ability to do that in the past and not get bogged down with a lot of process or nitpicking? We need people who are big thinkers, who are all about delivery and execution,' he said. Holmes said the business community has been sounding the alarm for many years about Canada's struggles to get major infrastructure projects built — a problem that's coming to a head now due to U.S. President Donald Trump's trade aggression. 'Those sorts of big things that have long tails for the economy, those have been really mired in a slow, sclerotic type of process with lots of redundancy, or argument between the federal government and provincial governments, a lot of opacity or process issues that don't allow the business community to move quickly,' Holmes said. 'At a moment that is really … a crisis moment for the economy, that's when these sorts of decisions come back to haunt you. That's why we're seeing such a focus right now on having a business-focused government.' Robert Asselin, senior vice president of policy at the Business Council of Canada, also said he'll be looking to see if Carney can hit the reset button on energy and environment, following the prime minister's promises to work more collaboratively with Western provinces. 'For energy and environment, those two portfolios, I think new faces are required, frankly, and people that will reset the tone and the relationships with provinces, but also with the energy sector,' he said. 'That's an important test.' One way Carney can show he is singularly committed to the economy and trade, he said, is by assembling a lean cabinet. Former prime minister Justin Trudeau's cabinet ballooned to 40 ministers before he left office. Carney had 24 people in his first cabinet, including himself. Fen Hampson, professor of international affairs at the Norman Paterson School of International Affairs in Ottawa, said the prime minister will have to address a very real source tension as he names his cabinet. He said that while 'Carney version 1.0' cannot look like a 'retread of Trudeau 3.0,' he also has a number of 'steady hands at the tiller' — ministers in key portfolios who don't need to learn their jobs. 'He's going to have to put a fresh face on the government but keep people who were highly competent around,' Hampson said. Trade Minister Dominic LeBlanc and Foreign Affairs Minister Mélanie Joly have been the main interlocutors with key figures in the Trump administration, such as U.S. Commerce Secretary Howard Lutnick and Secretary of State Marco Rubio. The government is expected to launch a packed legislative agenda when Parliament returns in two weeks — one that includes a tax cut and attempts to eliminate internal trade barriers. It also has to prepare for some major international diplomatic events that are just around the corner. The next defence minister will be explaining the pace of Canada's defence spending at the NATO summit in The Hague in June. That same month, Canada hosts the G7 summit in Kananaskis. Holmes said Carney's choice for the defence portfolio could prove to be a 'sleeper' decision on Tuesday, given the importance of selling the message that Canada is getting serious about its NATO commitments. 'It'll probably be overlooked in picking the bones after everything's revealed, but that one can come back to bite us if that selection isn't done carefully,' he said. This report by The Canadian Press was first published May 12, 2025.
