As Mark Carney prepares to take office as Canada’s new Prime Minister this week, a series of urgent crises—ranging from unaffordable housing to a strained healthcare system—loom over the nation. However, one issue now overshadows all others: the economic threat posed by U.S. President Donald Trump.

Trump’s Tariffs: A Direct Hit on Canada’s Economy

Trump’s aggressive trade policies have placed Canada’s economy in jeopardy, with the potential to trigger a recession if these tariffs remain in place for an extended period. The imposition of these trade barriers threatens industries across the country, driving up costs for consumers and businesses alike.

Mark Carney’s Response: A Defiant Stand Against U.S. Pressure

During his victory speech, Carney made it clear that Canada will not bow to American economic aggression.

“The Americans want our resources, our water, our land, our country. Think about that for a moment. If they succeed, they will destroy our way of life,” he declared.

Carney vowed to keep Canada’s retaliatory tariffs in place until the U.S. removes its own, stressing that Canada deserves respect from its largest trading partner.

“So, Americans should make no mistake … In trade, as in hockey, Canada will win.”

Public Sentiment: Trump’s Policies Influence Canadian Voters

According to a recent Nanos poll conducted for CTV News, the Canadian public is deeply concerned about the potential fallout of a prolonged trade dispute.

Polls also indicate that Carney is widely seen as the leader most capable of handling the economic challenges posed by Trump’s policies. His experience as the former Governor of both the Bank of Canada and the Bank of England during major economic crises gives him a strong advantage in navigating the turmoil ahead.

A Shift in Canada’s Political Landscape

Carney’s strong stance against Trump has already begun to reshape Canada’s political environment. The Liberal Party has gained momentum, while the Conservative leader, Pierre Poilievre, faces declining support. Carney’s warning was clear:

“Pierre Poilievre’s plan will leave us divided and ready to be conquered. A person who worships at the altar of Donald Trump will kneel before him, not stand up to him.”

What’s Next for Canada?

Carney has cautioned Canadians about “dark days” ahead but remains optimistic about the nation’s ability to weather the storm.

“I’ve learned from long experience that in a crisis, ‘plan beats no plan’, and that you need to first distinguish between what you can change and what you can’t change. We can’t change Donald Trump. We must understand what we can, and must change. We are masters in our own house,” he said.

As Canada braces for economic and political turbulence, Carney’s leadership will be put to the test. His ability to stand firm against U.S. trade pressures while supporting domestic industries will define his early tenure as Prime Minister.

Check out our latest Make Money Count video on how U.S. tariffs are affecting Canada’s economy and housing market!