Carney calls snap election amid Trump trade war and sovereignty taunts

Source Cryptopolitan

Canadian Prime Minister Mark Carney has called an early election for April 28, setting the stage for a fierce battle between his Liberal Party and the Conservative Party led by Pierre Poilievre.

The election campaign is officially underway after Carney, who took office only nine days before, asked Governor General Mary Simon on Sunday to dissolve Parliament.

His decision comes at an especially fraught time for Canada, with US President Donald Trump imposing trade tariffs and threatening remarks about Canada’s sovereignty.

The Conservatives consistently polled in front for over a year, with Poilievre blaming Liberal policy for the cost-of-living crisis. Trump’s hardline attitude toward Canada has turned public opinion around, though.

A former central bank chief, Carney is a calming voice in moments of crisis. He argues Canada needs to stay strong and contemplate moving its trade away from the US.

Poilievre blames the Liberals for Canada’s economic woes

Poilievre claims that Liberal economic policies have devastated the Canadian economy, leaving it vulnerable to Trump’s economic aggression. He criticizes Carney as an out-of-touch member of the global elite who undermines Canadian workers.

In launching his campaign, Poilievre asked voters whether Canada could endure a fourth Liberal government following what he characterized as a “lost Liberal decade.” He promised to restore business confidence and return investment to the country.

He also conceded that many Canadians were worried, angered, and apprehensive about Trump’s uncalled-for threats to Canada. He conceded he shared their ire and fears about Canada’s future but was hopeful this frustration and concern could be redirected into action.

Poilievre has accused Carney of not being transparent about his financial interests after years in the private sector. Carney had previously been chairman of Brookfield Asset Management Ltd. and Bloomberg Inc., resigning from the latter in January to pursue a job in politics.

Carney moves to distance himself from Trudeau

Carney is under pressure to show he is not merely a second coming of Justin Trudeau, who resigned under pressure from his party.

As of the first week in office, Carney had already undone some policies from the Trudeau era, including cancelling a carbon tax and reviewing an agreement to buy a fighter jet from the US.

He says Canada won’t work with Trump until the threats to its sovereignty and way of life end. He also promises his government will invest smartly while reining in spending.

Both Carney and Poilievre argue they would be better able to negotiate with Trump and have made diversifying Canada’s trade relationships and reducing barriers to internal trade a key part of their pitches. But neither party has finalized a full policy platform.

The New Democratic Party (NDP), historically tied to labor unions, has seen its support crash from the high teens to about 10%, with many NDP voters going Liberal. Party leader Jagmeet Singh previously kept Trudeau’s government afloat by supporting key measures, including some votes on the budget.

Trump’s aggression is reluctantly spawning a surge of Canadian nationalism that is reshaping the country’s identity. In Quebec, where separatist fever has spiked, Bloc Québécois support seems to plummet after Trump’s reelection.

In Alberta, Premier Danielle Smith has released a list of demands to assist the province’s oil sector. She said Canada may be on the verge of an unprecedented crisis in terms of national unity if the federal government fails to act over the coming months.

There is no visible leader, and the election will likely boil down to which of its leaders Canadians believe can stand up to Trump and battle for the economy.

Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bank Stocks Lead US Equities in 2026; Wall Street Warns Guidance Matters More Than Earnings.Bank stocks will release fourth-quarter earnings this week, kicking off the 2026 U.S. earnings season.Tuesday will see JPMorgan Chase (JPM) reporting earnings, while Citigroup (C) , Wells
Author  TradingKey
8 hours ago
Bank stocks will release fourth-quarter earnings this week, kicking off the 2026 U.S. earnings season.Tuesday will see JPMorgan Chase (JPM) reporting earnings, while Citigroup (C) , Wells
placeholder
Bitwise Slams 401(k) Bitcoin Ban as ‘Ridiculous’ Amid Warren’s Pressure on SECU.S. President Donald Trump's executive order has paved the way for cryptocurrencies to be included in 401(k) retirement plans, igniting debate on their volatility.
Author  Mitrade
10 hours ago
U.S. President Donald Trump's executive order has paved the way for cryptocurrencies to be included in 401(k) retirement plans, igniting debate on their volatility.
placeholder
Meme Coins Price Prediction: DOGE, SHIB and PEPE struggle to stabilize as sellers keep controlDOGE steadies near $0.1350 above $0.1332 support, SHIB holds the 50-day EMA at $0.00000834, and PEPE stays above $0.00000500 as momentum signals warn of further downside.
Author  Mitrade
12 hours ago
DOGE steadies near $0.1350 above $0.1332 support, SHIB holds the 50-day EMA at $0.00000834, and PEPE stays above $0.00000500 as momentum signals warn of further downside.
placeholder
USD/JPY holds positive ground above 158.00 amid Japan's political concernsThe USD/JPY pair trades in positive territory near 158.10 during the early Asian session on Tuesday. The Japanese Yen (JPY) softens against the US Dollar (USD) amid political concerns in Japan.
Author  FXStreet
17 hours ago
The USD/JPY pair trades in positive territory near 158.10 during the early Asian session on Tuesday. The Japanese Yen (JPY) softens against the US Dollar (USD) amid political concerns in Japan.
placeholder
US Q4 Earnings Season Set to Begin: Can US December CPI Data Bolster Rate Cut Case? [Weekly Preview]U.S. stocks kicked off 2026 with a rally as the market bets on economic growth and remains optimistic that the Federal Reserve will further cut interest rates this year. The fourth-quarte
Author  TradingKey
Yesterday 10: 15
U.S. stocks kicked off 2026 with a rally as the market bets on economic growth and remains optimistic that the Federal Reserve will further cut interest rates this year. The fourth-quarte
goTop
quote