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U.S. President Donald Trump’s tariffs on Canada, and Canada’s retaliatory measures, could be the most “significant trade shock” that Canada has suffered in nearly 100 years, economists say. So does that mean a recession is inevitable?A Royal Bank of Canada report on Sunday compared the trade shocks from Trump’s tariffs to the ones caused by the Smoot-Hawley tariffs of the 1930s.The Tariff Act of 1930, which created what’s known as the Smoot-Hawley tariffs, was an American law that raised U.S. tariffs on a sweeping range of products being exported to the United States.The tariffs were widely believed to have worsened the recession during the Great Depression.“This shock far surpasses the 2018 tariffs in magnitude, diminishing the value of that period as a helpful guide for the economic impa...

Mexican President Claudia Sheinbaum revealed that she had “a good conversation” on Monday morning with U.S. President Donald Trump, “with great respect for our relationship and sovereignty.” In a post on X, Sheinbaum said the two reached “a series of agreements” during their conversation, two days after the Mexican president ordered retaliatory tariffs in response to the U.S. decision to slap 25 per cent levies on all goods coming from Mexico as a trade war broke out between the two neighbours.“1. Mexico will immediately reinforce the northern border with 10,000 members of the National Guard to prevent drug trafficking from Mexico to the United States, particularly fentanyl,” Sheinbaum wrote, explaining the agreements.“2. The United States is committed to working to prevent the trafficking...

It turns out there’s a limit to the Canadian politeness our country is famous for. Frustrated sports fans in arenas across the country have begun to boo loudly while the U.S. national anthem is played at NHL and NBA games, showing just how well President Donald Trump‘s imposed tariffs on Canada are going over with people north of the border.Over the weekend, in Calgary, Toronto, Vancouver and Ottawa, fans of the Canadian teams showed their displeasure during the singing of The Star-Spangled Banner.What’s now become a trend was first witnessed in Ottawa before the Senators took to the ice against the Minnesota Wild on Saturday, just hours after Trump declared an economic emergency in order to place taxes of 25 per cent on imports from Canada. Energy imported from Canada, including oil, natu...

By Staff The Canadian Press Posted February 3, 2025 7:48 am Updated February 3, 2025 8:57 am 1 min read Descrease article font size Increase article font size Canadian businesses preparing for Tuesday’s imposition of tariffs are leaning into the “buy Canadian” sentiment. Grocery chain Loblaw Companies Ltd. has committed to securing more food grown and made in Canada, after U.S. President Donald Trump announced sweeping tariffs to be enacted Tuesday.Per Bank, the company’s CEO, made the commitment on LinkedIn ov...

Descrease article font size Increase article font size Doug Ford says the Ontario government is “ripping up” its $100-million contract with Elon Musk’s Starlink to provide high-speed internet to northern and rural communities. Ford, who plunged the province into an early election last week, said in a social media post Monday that effective immediately, the Progressive-Conservative government is banning American companies from provincial contracts.The move follows U.S. President Donald Trump’s decision to enact a 25 per cent tariff on all Canadian and Mexican imports beginning Tuesday; Ottawa and the provinces are retaliating, with Prime Minister Justin Trudeau imposing immediate tariffs on $30-billion worth of goods, followed by further tariff...

By Staff The Canadian Press Posted February 3, 2025 7:30 am 1 min read Descrease article font size Increase article font size Prime Minister Justin Trudeau is expected to speak with President Donald Trump Monday as Canada’s leaders scramble to prepare for a trade war with the United States. Trump mentioned the planned conversation after returning to Washington from Florida on Sunday night and Trudeau’s office confirmed a call is scheduled.Speaking with reporters at the Joint Base Andrews Sunday evening, the Republican president said “Canada has been abusive to the United States for many years” as he described the trade relation...