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MNI BRIEF: Carney Says US Tariffs Will Boost Inflation, Rates

USPolicy NewsCanadaBriefStoryNorth America

MNI (OTTAWA) - Investors have been slow to figure out Donald Trump's tariffs will boost inflation and interest rates, but markets and businesses will pressure the president to reconsider, Mark Carney said while campaigning to cement his lead in the contest to replace Justin Trudeau as Canada's prime minister. 

“You can’t suspend the laws of economics. I’ve seen this movie before in Brexit,” the former BOE and BOC Governor said Wednesday in Windsor, Ontario, home to factories supplying Detroit automakers. “Tariffs will cause inflation, and inflation will cause higher interest rates.” (See: MNI INTERVIEW: Trump Canada Threats Amount To A 10% Tariff)

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MNI (OTTAWA) - Investors have been slow to figure out Donald Trump's tariffs will boost inflation and interest rates, but markets and businesses will pressure the president to reconsider, Mark Carney said while campaigning to cement his lead in the contest to replace Justin Trudeau as Canada's prime minister. 

“You can’t suspend the laws of economics. I’ve seen this movie before in Brexit,” the former BOE and BOC Governor said Wednesday in Windsor, Ontario, home to factories supplying Detroit automakers. “Tariffs will cause inflation, and inflation will cause higher interest rates.” (See: MNI INTERVIEW: Trump Canada Threats Amount To A 10% Tariff)