## Canada Faces Economic Hit from New US Tariff Prime Minister Mark Carney has warned Canadians that the recently introduced US trade tariff could cost the country’s economy about **50 billion dollars**. Speaking at a press briefing in Ottawa, he emphasized that the new measure would hurt both businesses and individuals, echoing widespread concerns among economists about its potential long-term impact. ### Rollback of Climate Policies In parallel with his economic statement, Carney announced a temporary **rollback of several climate regulations**. The government plans to ease restrictions on energy production and expedite **pipeline construction** in an effort to stabilize domestic industries affected by the trade shift. Officials stated that these measures aim to protect jobs and attract investment during a period of economic uncertainty. ### Economic Strategy and Public Response Carney reiterated his commitment to balancing environmental goals with economic resilience. > “Canada must stay competitive,” he said, “but we cannot ignore the consequences of our largest trading partner’s decisions.” Public reaction has been mixed. Some supporters view the government’s plan as a pragmatic response to external pressure, while critics argue that weakening environmental policies could undermine Canada’s climate commitments in the long run. *** **Author’s summary:** Mark Carney warned that new US tariffs could cut $50 billion from Canada’s economy, prompting temporary easing of climate rules and expanded energy development to offset the impact.

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The Times of India on MSN — 2025-11-28