Business
Carney says as PM he would replace the Carbon Tax with something ‘more effective’

From the Canadian Taxpayers Federation
Carney stumbles out the gate on carbon taxes
Prime minister hopeful Mark Carney is supposed to be the economic messiah sent to save the Liberals from the depths of polling purgatory.
But right out the gate, Carney showed he doesn’t have an answer to the most important question:
Will he keep the carbon tax?
Carney should have seen that question coming. His campaign leaked to the media that he would scrap the carbon tax. But when reporters asked him that question at his campaign kickoff in Edmonton, he went wonky and wobbly.
It should have been a yes or no answer. Instead, Carney served up an unappetizing word salad.
“If you are going to take out the carbon tax, we should replace it with something that is at least, if not more, effective,” Carney said. “Perception may be that it takes out more than the rebate provides, but reality is different, and Canadians will miss that money.”
Carney’s stance on the carbon tax is clear as mud and it’s bad for two key reasons.
First: he’d replace the carbon tax with something more “effective.”
The carbon tax has been very effective at sucking a lot of money out of the wallets of Canadians. And the carbon tax has been ineffective at hitting the government’s own emissions targets.
The carbon tax is an expensive failure.
Second: Carney parrots the insulting Trudeau government narrative that the carbon tax is all a “perception” problem.
The message is Canadians are too stupid to appreciate the genius of the carbon tax, and if the government could change the perception of the masses, the carbon tax would be just fine.
Worse for Carney, his answer was an assault on his own brand.
Carney’s the guy who is supposed to have his homework done. Instead, he shrugged at the obvious question, saying he’d release a “comprehensive” plan later.
In other words: just trust him.
But here’s the thing: Carney should have had an answer yesterday and taxpayers have trust issues.
When the Liberals won the 2015 election, their platform was sparse on details about their future signature policy. The carbon tax was buried on page 39 of their platform as “a price on carbon.”
The Liberal government imposed a carbon tax in 2019 misleading Canadians, saying the tax would stop at 11 cents per litre of gasoline in 2022.
“The commitment was to go up to 2022,” then environment minister Catherine McKenna said, shortly before the 2019 federal election. “There was no intention to go up beyond that, there’s no secret agenda.”
After the election, the Trudeau government announced it would keep cranking up the carbon tax every year until it cost 37 cents per litre in 2030. Filling up a minivan at that rate would cost nearly $30 extra in just the carbon tax.
The current Liberal government still won’t rule out future carbon tax hikes.
The government also claims most families get more back in rebates than they pay in the carbon tax, despite the Parliamentary Budget Officer issuing three reports confirming the carbon tax costs Canadians.
The carbon tax will cost the average family up to $399 this year, even with the rebates factored in, according to the PBO.
Liberal leadership hopefuls who want to earn trust with taxpayers must push the Trudeau cabinet to scrap the carbon tax immediately.
The next Liberal leader faces a daunting timeline.
When Parliament comes back on March 24, there will be a throne speech, then likely a flurry of confidence motions. This could bring down the government and trigger an election.
On April 1, the government is set to hike the carbon tax.
Does Carney want to hike the carbon tax during the first week of his election campaign?
If Carney is as savvy as we’ve been told, then his answer should be a loud “no.”
To prove to Canadians he’s opposed to the carbon tax, Carney must call on the Trudeau cabinet to scrap it right now.
Alberta
Big win for Alberta and Canada: Statement from Premier Smith

Premier Danielle Smith issued the following statement on the April 2, 2025 U.S. tariff announcement:
“Today was an important win for Canada and Alberta, as it appears the United States has decided to uphold the majority of the free trade agreement (CUSMA) between our two nations. It also appears this will continue to be the case until after the Canadian federal election has concluded and the newly elected Canadian government is able to renegotiate CUSMA with the U.S. administration.
“This is precisely what I have been advocating for from the U.S. administration for months.
“It means that the majority of goods sold into the United States from Canada will have no tariffs applied to them, including zero per cent tariffs on energy, minerals, agricultural products, uranium, seafood, potash and host of other Canadian goods.
“There is still work to be done, of course. Unfortunately, tariffs previously announced by the United States on Canadian automobiles, steel and aluminum have not been removed. The efforts of premiers and the federal government should therefore shift towards removing or significantly reducing these remaining tariffs as we go forward and ensuring affected workers across Canada are generously supported until the situation is resolved.
“I again call on all involved in our national advocacy efforts to focus on diplomacy and persuasion while avoiding unnecessary escalation. Clearly, this strategy has been the most effective to this point.
“As it appears the worst of this tariff dispute is behind us (though there is still work to be done), it is my sincere hope that we, as Canadians, can abandon the disastrous policies that have made Canada vulnerable to and overly dependent on the United States, fast-track national resource corridors, get out of the way of provincial resource development and turn our country into an independent economic juggernaut and energy superpower.”
Business
Canada may escape the worst as Trump declares America’s economic independence with Liberation Day tariffs

MxM News
Quick Hit:
On Wednesday, President Trump declared a national emergency to implement a sweeping 10% baseline tariff on all imported goods, calling it a “Declaration of Economic Independence.” Trump said the tariffs would revitalize the domestic economy, declaring that, “April 2, 2025, will forever be remembered as the day American industry was reborn.”
Key Details:
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The baseline 10% tariff will take effect Saturday, while targeted “reciprocal” tariffs—20% on the EU, 24% on Japan, and 17% on Israel—begin April 9th. Trump also imposed 25% tariffs on most Canadian and Mexican goods, as well as on all foreign-made cars and auto parts, effective early Thursday.
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Trump justified the policy by citing foreign trade restrictions and long-standing deficits. He pointed to policies in Australia, the EU, Japan, and South Korea as examples of protectionist barriers that unfairly harm American workers and industries.
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The White House estimates the 10% tariff could generate $200 billion in revenue over the next decade. Officials say the added funds would help reduce the federal deficit while giving the U.S. stronger leverage in negotiations with countries running large trade surpluses.
Diving Deeper:
President Trump on Wednesday unveiled a broad new tariff policy affecting every imported product into the United States, marking what he described as the beginning of a new economic era. Declaring a national emergency from the White House Rose Garden, the president announced a new 10% baseline tariff on all imports, alongside steeper country-specific tariffs targeting longstanding trade imbalances.
“This is our Declaration of Economic Independence,” Trump said. “Factories will come roaring back into our country — and you see it happening already.”
The tariffs, which take effect Saturday, represent a substantial increase from the pre-Trump average U.S. tariff rate and are part of what the administration is calling “Liberation Day” for American industry. Reciprocal tariffs kick in April 9th, with the administration detailing specific rates—20% for the European Union, 24% for Japan, and 17% for Israel—based on calculations tied to bilateral trade deficits.
“From 1789 to 1913, we were a tariff-backed nation,” Trump said. “The United States was proportionately the wealthiest it has ever been.” He criticized the establishment of the income tax in 1913 and blamed the 1929 economic collapse on a departure from tariff-based policies.
To underscore the move’s long-anticipated nature, Trump noted he had been warning about unfair trade for decades. “If you look at my old speeches, where I was young and very handsome… I’d be talking about how we were being ripped off by these countries,” he quipped.
The president also used the moment to renew his push for broader economic reforms, urging Congress to eliminate federal taxes on tips, overtime pay, and Social Security benefits. He also proposed allowing Americans to write off interest on domestic auto loans.
Critics of the plan warned it could raise prices for consumers, noting inflation has already risen 22% under the Biden administration. However, Trump pointed to low inflation during his first term—when he imposed more targeted tariffs—as proof his strategy can work without sparking runaway costs.
White House officials reportedly described the new baseline rate as a guardrail against countries attempting to game the system. One official explained the methodology behind the reciprocal tariffs: “The trade deficit that we have with any given country is the sum of all trade practices, the sum of all cheating,” adding that the tariffs are “half of what they could be” because “the president is lenient and he wants to be kind to the world.”
In addition to Wednesday’s sweeping changes, Trump’s administration recently imposed a 25% tariff on Chinese goods tied to fentanyl smuggling and another 25% on steel and aluminum imports—revoking previous carve-outs for countries like Brazil and South Korea. Future tariffs on semiconductors, pharmaceuticals, and raw materials such as copper and lumber are reportedly under consideration.
Trump closed his remarks with a message to foreign leaders: “To all of the foreign presidents, prime ministers, kings, queens, ambassadors… I say, ‘Terminate your own tariffs, drop your barriers.’” He declared April 2nd “the day America’s destiny was reclaimed” and promised, “This will indeed be the golden age of America.”
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