After a fresh wave of tariffs from the United States, Canada and the European Union said they would impose billions in levies on U.S. goods.

Canada and Mexico A 25% import tariff on goods from Mexico and Canada took effect March 4, with an exception for energy products and potash, which received a 10% tariff. The next day, the Trump administration suspended those tariffs until April 2 for autos eligible for duty-free trade under the U.

Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remained in power until the Liberal Party elected a new leader. Carney is widely expected to trigger a general election in the coming days or weeks.

Ex-central banker Mark Carney was sworn in as prime minister of Canada on Friday (March 14) and immediately said he could work with U.S. President Donald Trump, who is promising tariffs that could devastate the Canadian economy.