The probability of a U.S. recession has risen significantly thanks to President Donald Trump's tariffs and that will have a major negative effect on the Canadian economy, Prime Minister Mark Carney said on Monday.

Canadian Prime Minister Mark Carney said Donald Trump’s tariff policy is an act of economic self-sabotage that’s pushing the US into a downturn.

Prime Minister Mark Carney says he spoke Sunday with his counterpart in the United Kingdom about the fallout from the United States' global tariff campaign.

Canadian Minister of International Trade joins The Weekend to discuss the effects of Trump’s sweeping tariffs and how Canada plans to fight back.

The US is poised to more than double duties on Canadian softwood lumber to 34.45%, putting more pressure on US materials costs even before President Donald Trump places any new tariffs on the sector.

The decades-long softwood lumber dispute between the US and Canada is escalating even before planned tariffs take effect: The US plans to more than double existing anti-dumping and countervailing duties on the critical building material.

The Dow, S&P 500 and Nasdaq fell sharply as the investor pushback over Trump’s tariffs continue to roil the global markets. Oil and Bitcoin also saw selling pressure. FOX Business is providing real-time updates on the markets,

President Donald Trump's severe tariffs against virtually all U.S. trading partners continued to roil world markets on Monday. Trump threatened to veto a bipartisan bill introduced in the Senate last week that would require congressional approval of any tariffs the president would seek to impose.

This week, I sought the argument for why US tariff rates won’t stay high for long. Here’s what I found. First, the economic pain. In the near term, most forecasters expect Trump’s import duties to raise prices and slow economic activity.