The former central banker has already secured the backing of the country's foreign, energy, environment, transport and labour ministers The senior ranks of Prime Minister Justin Trudeau's cabinet have made their choice on who they believe should replace him as Canada's prime minister - and they are throwing their weight behind Mark Carney.

Outgoing Canadian Prime Minister Justin Trudeau says prices for Americans will go up if President Donald Trump follows through with his vow to apply sweeping tariffs on Canadian products.

Trump said in an Oval Office signing ceremony on Monday that his administration will impose a 25% tax on goods from Canada and Mexico that may come as soon as February 1 – a move that could raise prices for American consumers.