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Canadian Economy and Markets

CANADA AND THE United States will start talks on a new trade deal in early May, Prime Minister Mark Carney has said, warning President Donald Trump’s trade war was already hitting Canada’s labor market.

Carney made the comments in Ottawa after pausing his campaign ahead of Canada’s April 28 election to meet cabinet members working on US relations.

It came at roughly the same time as news landing that General Motors (GM) would pause production at one of its assembly plants where 1,200 people are employed.

When the factory resumes work it will do so minus an estimated 500 staff who will be laid off indefinitely according to Canadian media.

GM said the shutdown was “directly related to responding to market demand and re-balancing inventory” before it would reopen.

Thousands of Canadian auto workers have already had their hours cut due to the tariffs dispute.

This statement from Mark Carney came just as we …

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