Canada's Economy Was Already in Trouble Before Trump Tariffs

Before US President Donald Trump imposed tariffs on Canada, the country's economy was already in trouble due to mismanagement by the Justin Trudeau Liberal government, according to former Prime Minister Mark Carney.

In a leadership debate last year on February 25, 2025, Carney said that Canada's economy had been driven by a surge in immigration and government spending, which grew at twice the rate of the economy itself. He noted that the economy was weak before Trump's policies threatened to put more pressure on it.

Carney emphasized that Canada can't control Trump's actions, but only its own economic decisions. To prevent future blunders, he stressed the importance of becoming 'masters in our own economic house.'