Canada

PM will speak around 2 p.m. ET after Trump says he'll go ahead with 25% tariffs

Liberal Leader Mark Carney has paused his campaign and is back in Ottawa on Thursday to deal with the fallout from U.S. President Donald Trump's proposed auto tariffs, which would wallop the industry in Canada.

Speaking from the Oval Office on Wednesday, Trump delivered a blow to the cross-border auto trade, vowing to bring in a new 25 per cent tariff on finished vehicles imported into the United States, starting next week.

Hundreds of thousands of Canadians jobs are connected to the auto sector — the largest manufacturing industry in Canada and second-largest source of exports to the U.S. after oil.

In a social media post Thursday, the president threatened to further punish Canada and the European Union with duties "far larger than currently planned" if they retaliate against his auto tariffs