However, just a week later, he suspended them for 90 days to allow time for trade negotiations that would ease the market turmoil.

US President Donald Trump has said he will impose a 35% tariff on Canadian goods starting on 1 August, even as the two countries were days away from a self-imposed deadline to reach a new trade deal.

Carney was elected prime minister in April on the argument that Canadians should keep their “elbows up.”