The right Naija news at your fingertips

Mark Carney unveils first budget as Canada battles economic strain from US tariffs

Canada’s Finance Minister, Mark Carney, has presented his first national budget as the country faces serious economic pressure caused by tariffs from the United States. The new financial plan aims to support Canadian businesses, protect jobs, and strengthen the economy during this challenging period.

In the budget announcement, Carney explained that the government will focus on boosting manufacturing, helping exporters, and investing in technology and clean energy. He said the goal is to make Canada more competitive and reduce the impact of US-imposed trade barriers. According to him, supporting Canadian workers and industries remains the top priority.

The finance minister also announced relief packages for affected sectors and promised direct support for small and medium-sized businesses facing increased production costs. He added that Canada will continue discussing trade issues with the US while also exploring new international markets.

Many economic analysts have praised the budget for being proactive and focused on long-term growth. However, some critics argue that the government should have taken even stronger action to protect jobs and reduce inflation for ordinary Canadians.

As the US tariff situation continues to affect global trade, Carney assured citizens that the government is committed to keeping the economy stable and helping businesses survive the current pressure.

Related News