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By Staff The Canadian Press Posted January 9, 2025 5:54 pm 1 min read Descrease article font size Increase article font size Conservative Leader Pierre Poilievre says his focus in the next federal election will be on ending the carbon price, even with the threat of tariffs from the incoming Trump administration. Poilievre says the carbon price is essentially a tariff on Canadians imposed by their own government.Speaking to reporters this afternoon for the first time since Prime Minister Justin Trudeau announced his plans to resign, Poilievre again demanded that Trudeau call a national election instead. ...

Prime Minister Justin Trudeau says U.S. president-elect Donald Trump’s rhetoric about merging the U.S. with Canada is distracting people from the costs Americans will face as a result of steep tariffs on Canadian goods. Speaking to CNN on Thursday in his first media interview since announcing his intention to resign, Trudeau also pushed back on the idea of Canada becoming the 51st U.S. state, which Trump has increasingly spoken about in press conferences and on social media.“That’s not going to happen,” Trudeau said.“What I think is happening in this is President Trump, who’s a very skillful negotiator, is getting people to be somewhat distracted by that conversation, to take away from the conversation around 25 per cent tariffs on oil and gas, and electricity and steel and aluminum and lu...

The Canadian Chamber of Commerce is calling on the federal government to restore clarity to the upcoming tax filing season by pre-emptively nixing its proposed changes to capital gains taxes. Those measures, which would see the taxable portion of capital gains rise to two-thirds from half in some circumstances, are currently in limbo and at risk of not being made law.The Canada Revenue Agency nonetheless intends to administer the changes outlined in the Liberal government’s proposal. A Department of Finance official confirmed as much in a statement to Global News this week, citing “Parliamentary convention” and a need for “consistency and fairness” for taxpayers.But the Canadian Chamber of Commerce said in a statement Thursday that going ahead with the controversial changes in a period of ...

The threat of economically damaging tariffs on Canadian goods is looming larger as U.S. president-elect Donald Trump’s inauguration draws closer — and there is little Canada can do to fight back against the tools at Trump’s disposal. Although Congress typically oversees tariff and tax policy, Trump has broad executive authority to impose tariffs for national security reasons. That’s how he justified slapping tariffs on Canadian steel and aluminum in 2018, which kicked off a cross-border trade war during Trump’s first term.This time, Trump may go further.CNN reported Wednesday, citing multiple sources, that the president-elect is considering declaring a national emergency to provide legal justification for universal tariffs on foreign imports, including the 25 per cent levy he’s threatened ...

The fate of Canada’s largest proposed carbon capture and storage project is even more uncertain after Prime Minister Justin Trudeau’s resignation announcement this week amplified existing unknowns around the future of energy and climate policy in Canada, experts say. The $16.5-billion high-profile project in question would capture harmful carbon dioxide emissions from the oilsands, Canada’s heaviest-emitting sector.It would be built by the Pathways Alliance, a consortium whose members include some of Canada’s largest energy companies.But industry watchers say the project’s future is cloudy due to current political turmoil and the likelihood that a new federal government will be elected this year.“I can’t imagine a huge project like that could really move forward in a time like right now,” ...