Carney warns of signs that global economies are slowing amid Trump’s tariffs [Video]

Prime Minister Mark Carney said there are signs the global and Canadian economies are slowing as U.S. President Donald Trump’s trade war escalated again Friday, with China announcing it will push up retaliatory tariffs to 125 per cent.

“In the last week there have been a lot of developments in terms of U.S. tariffs policy, reactions from others including China. It really marked tightening in financial conditions … the initial signs of slowing in the global economy,” Carney said.

“Impacts that we are starting to see … unfortunately in the Canadian economy, particularly in the Canadian labour market.”

The Liberal leader took a day off the federal election campaign trail Friday to convene the cabinet committee on Canada-U.S. relations after a raucous week of White House tariff manoeuvres.

Markets have been in turmoil since Trump brought his trade war to the world, only to drastically change course. He paused his …