Mark Carney, the former governor of the Bank of Canada and the Bank of England, has emerged victorious in the race to become Canada’s next Prime Minister. He will succeed Justin Trudeau during a challenging period for the country.

Canada is currently engaged in a trade war with its longtime ally, the United States. This conflict began after Donald Trump imposed a 25% tariff on imports from both Canada and Mexico as part of his “America First” agenda.

In addition to the tariffs on Canada and Mexico, Trump also imposed a 10% tariff on goods from China and energy imports from Canada. These measures were aimed at boosting American production and reducing foreign imports.

The trade war has significant consequences, not only for Canada but also for the United States. US citizens are expected to face higher costs, especially for groceries and gasoline, as a result of the increased tariffs.

As Carney takes office, he will need to navigate these tensions and find a way to address the economic challenges posed by the trade war.

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