Canadian Prime Minister Mark Carney said he supports the selection of Kevin Warsh as the next chair of the Federal Reserve.
"Kevin Warsh is a fantastic choice to lead the world's most important central bank at this crucial time," Carney wrote on X following President Donald Trump's announcement.
"I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM," Trump wrote on Truth Social, calling Warsh "one of the GREAT Fed Chairmen, maybe the best."
Warsh, a former Fed governor who has become a prominent critic of the central bank, would take over at a moment when Trump has repeatedly pressed the Fed to cut interest rates faster.
The Fed held its benchmark short-term rate steady this week after three consecutive cuts last year, drawing a fresh rebuke from Trump.
Carney previously led the Bank of Canada from 2008 to 2013, which overlapped with Warsh's first tenure as Fed governor.
Carney later led the Bank of England from 2013 to 2020.
Trump on Thursday threatened Canada with a 50% tariff on any aircraft sold in the U.S., the latest salvo in his trade war with America's northern neighbor as his feud with Carney expands.
Trump's post on social media came after he threatened over the weekend to impose a 100% tariff on goods imported from Canada if it went forward with a planned trade deal with China.
But he did not provide any details about when he would impose the import taxes, as Canada had already struck a deal.
The president said he was retaliating against Canada for refusing to certify jets from Savannah, Georgia-based Gulfstream Aerospace.
Trump said the U.S., in return, would decertify all Canadian aircraft, including planes from its largest aircraft maker, Bombardier.
"If, for any reason, this situation is not immediately corrected, I am going to charge Canada a 50% Tariff on any and all Aircraft sold into the United States of America," Trump said in his post.
Trump said he is "hereby decertifying" the Bombardier Global Express business jets.
Treasury Secretary Scott Bessent warned Carney on Wednesday that his recent public comments against U.S. trade policy could backfire going into the formal review of the U.S.-Mexico-Canada Agreement, the trade deal that protects Canada from the heaviest impacts of Trump's tariffs.
Carney rejected Bessent's contention that he had aggressively walked back his comments at the World Economic Forum during a phone call with Trump on Monday.
The prime minister said he told Trump that he meant what he said in his speech in Davos, Switzerland, and that Canada plans to diversify away from the United States with a dozen new trade deals.
In Davos at the World Economic Forum last week, Carney condemned economic coercion by great powers on smaller countries without mentioning Trump's name.
Carney received widespread praise and attention for his remarks.
The Associated Press contributed to this report.
Sam Barron ✉
Sam Barron has almost two decades of experience covering a wide range of topics including politics, crime and business.
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