5 Things posted Mar 17, 2025 @ 08:00am by Iain Burns

5 things you need to know this morning: March 17, 2025

Start your day off right with five things you need to know this morning.

Five things you need to know

1. Carney meets with Macron, says Canada 'the most European of non-European countries'

Mark Carney is in Paris today, having flown there to meet with French President Emmanuel Macron for his first international trip as prime minister. During a brief speech, Carney said he was in Europe to strengthen Canada's relationships with reliable allies, and declared Canada "the most European of non-European countries."

#UPDATE Canada's new Prime Minister Mark Carney in Paris on Monday said his country needed to "reinforce its ties with reliable allies like France", as relations with the United States unravel under Donald Trump ➡️ https://t.co/C3Ui23JoGr pic.twitter.com/nenbP1u6rj
— AFP News Agency (@AFP) March 17, 2025

2. Poilievre pledges to completely repeal carbon tax, expand eligibility for clean tech tax credits

Back at home, Tory Leader Pierre Poilievre has said he'll repeal the entire carbon tax law if he's elected, rather than block the consumer side as Mark Carney has done. Poilievre said that will ensure Canadian businesses and industries are not affected by the tax, pledging instead to expand eligibility for clean technology tax credits as a way of reducing CO2 emissions.

BREAKING: Conservatives will axe the Liberal carbon tax on Canadian industries like steel, aluminum, and energy.

Bring jobs and production home, and take back control of our economy. Canada First: https://t.co/eIy7PDtCaB pic.twitter.com/Bb53b0N4k8
— Pierre Poilievre (@PierrePoilievre) March 17, 2025

3. Trump's tariffs will damage global economy, slash Canada's growth by more than half: OECD

The OECD group of advanced economies has warned in its latest forecast that US President Donald Trump's commitment to tariffs will increase inflation and sap growth. It expects Canada's growth to be less than half of its previous estimate: 0.7 per cent in 2025 and 2026, compared with the earlier prediction of two per cent in both years. The OECD also forecast a recession in Mexico.

Interim #EconomicOutlook: OECD GDP growth projections for 2025

G20 3.1%

🇮🇳 6.4%
🇮🇩 4.9%
🇨🇳 4.8%
🇷🇺 1.3%
🇧🇷 2.1%
🇹🇷 3.1%
🇪🇸 2.6%
🇺🇸 2.2%
🇰🇷 1.5%
🇲🇽 -1.3%
🇨🇦 0.7%
🇸🇦 3.8%
🇫🇷 0.8%
🇦🇺 1.9%
🇬🇧 1.4%
🇮🇹 0.7%
🇪🇺 1.0%
🇿🇦 1.6%
🇯🇵 1.1%
🇩🇪 0.4%
🇦🇷 5.7%

🔗 https://t.co/9XTTLacZqf pic.twitter.com/SM1UWyINwN
— OECD ➡️ Better Policies for Better Lives (@OECD) March 17, 2025

4. Carney wants to speak with Trump 'as soon as possible,' ambassador says

Prime Minister Mark Carney is hoping to speak with US President Donald Trump "as soon as possible," according to Canada's ambassador the US. Kirsten Hillman told Fox News on Sunday that Carney is "looking forward" to speaking with Trump, adding that the PM "respects" the US president's economic plans.

🚨🚨 L’ambassadrice du Canada aux États-Unis, Kirsten Hillman, affirme à Fox que le bureau de @MarkJCarney a pris contact avec l’administration @realDonaldTrump pour organiser un premier échange entre les deux dirigeants. pic.twitter.com/9vdhhIMb4Y
— Hadi Hassin (@hassinhadi) March 16, 2025

5. Hudson's Bay returns to court as Canada's oldest company seeks liquidation

Canada's oldest company is set to appear in court again this morning as it seeks approval to begin the liquidation of its entire business. Hudson's Bay said its "exhaustive" efforts to find the cash it needs to survive have so far failed.