Market Update – March 9th, 2025


March 9, 2025

Who will assume the new role of Prime Minister?

So, the forecasted outcome has been settled. Today, Mark Carney won the Liberal leadership “race” to replace Trudeau. He will also assume the role of Prime Minister.

It is expected that he will call for an immediate election. After being prorogued by Trudeau, the parliament will convene again March 27-29.

By changing the face of the leader, the federal Liberal party is hoping to continue as the party in power, going forward. Mark Carney also advised Trudeau, and was close to his policies…as was Christya Freeland (who also ran for Leader)

The U.S. tariffs issue will affect Canada.

Unfortunately, the federal government was not seeking economic health in the past several years of being in power. The current head of the BOC (Bank of Canada) had been trying to alert the party in power of this disturbing fact in both 2023 and 2024.

It’s also odd that it’s only now that long-standing barriers to inter-provincial trade are being discussed. This inability to trade between provinces has nothing to do with tariffs.

Some provinces may be more affected than others, but the usual way of doing business has changed. Reciprocal tariffs will be in place. April 2nd has been mentioned as the date this will begin. More later…