Politics

Canada doesn’t need to be hit by tariffs for the economy to be impacted — the mere threat of a trade war is enough, the Bank of Canada has warned. The Bank of Canada on Wednesday released the summary of its governing council deliberations, outlining the discussions its members had in the run-up to the last rate cut announced on Jan. 29.“Even if no tariffs were imposed, a long period of uncertainty under the cloud of tariff threats would almost certainly damage business investment in Canada,” the report said.It added that a hit to investments would damage growth prospects for Canada’s economy.“Companies were already re-evaluating their investment plans in the face of trade policy uncertainty. With significant tariffs, the risk of capital flight would increase, exacerbating Canada’s competit...

Alberta Premier Danielle Smith says she still has confidence in Health Minister Adriana LaGrange despite allegations involving political interference and conflict of interest in the awarding of contracts by Alberta Health Services (AHS). Speaking to reporters on Wednesday morning during a trip to Washington, D.C., with Canada’s Premiers, Smith said she first became aware of the allegations against her office and the health minister when she saw reports in the media.The allegations were outlined in a letter sent by the lawyer of former AHS CEO Athana Mentzelopoulos to the Globe and Mail.It alleges that AHS was pressured to approve private contracts and that the former AHS CEO was fired two days before a meeting with the auditor general to discuss her concerns about private surgery facilitie...

Prime Minister Justin Trudeau said that President Donald Trump’s repeated remarks about Canada becoming the 51st U.S. state is a “non-starter” as he vowed to respond to incoming tariffs. Speaking to reporters in Brussels on Wednesday, Trudeau said Canada does not want to be in a trade dispute with the U.S., but if Trump follows through on his threats, “we will be equally unequivocal in our response.”“Canada will respond as appropriate in a calibrated but extremely strong way, regardless of what the U.S. moves forward with,” Trudeau said.Trudeau is visiting Brussels to strengthen Canada’s relations with its European allies as tariff tensions with the United States continue.On Monday, Trump said he would impose 25 per cent tariffs on all steel and aluminum imports coming to the United States...

Descrease article font size Increase article font size If Donald Trump goes ahead with threatened 25 per cent tariffs on steel and aluminum, that would stack on top of the 25 per cent across-the-board tariff on Canadian goods that he has already vowed, the White House confirmed to Global News. That means the tariffs on Canadian steel and aluminum imports into the U.S. would total 50 per cent.On Feb. 1, the U.S. president signed an executive order imposing tariffs on Canadian and Mexican goods.“I have implemented a 25% Tariff on Imports from Mexico and Canada (10% on Canadian Energy), and a 10% additional Tariff on China,” Trump said in a statement at the time.Prime Minister Justin Trudeau announced Canada would impose retaliatory tariffs worth...

Prime Minister Justin Trudeau is in Brussels Wednesday as Canada works to deepen its trade and defence ties with Europe. The prime minister landed in the Belgian capital around 10 a.m. Wednesday morning. His one-day visit includes a meeting with NATO secretary-general Mark Rutte and the European Union’s two most senior leaders.Ursula von der Leyen has been president of the European Commission since 2019, and her job involves directing the EU’s policy agenda and legislation.Former Portuguese prime minister Antonio Costa has been president of the European Council since last December, and his role sets overall priorities for the bloc.Trudeau is scheduled to hold an afternoon press conference before departing for Ottawa.His visit comes after years of growing trade ties between Canada and Europ...

Liberal leader candidate Chrystia Freeland released her campaign platform on Tuesday, based on saving money for Canadians. She said that she would cut taxes on income and new housing, cap credit card interest rates, tackle rising grocery costs and build more child care spaces.Freeland said she would cut taxes for middle-class Canadians and in her first year as prime minister she would cut the second income tax bracket rate from 20.5 per cent to 19 per cent, saving Canadians $550 per year, or $1,100 for a couple.She plans to eliminate the GST on new homes for first-time buyers and remove the federal tax on new homes worth up to $1.5 million for first-time buyers.Freeland said she will cap credit card interest rates at 15 per cent and work towards a 10 per cent cap. Story continues b...

Descrease article font size Increase article font size Canada has appointed a new fentanyl czar, part of the measures aimed at addressing concerns about border security made by U.S. President Donald Trump in tariff threats. According to a release by the Prime Minister’s Office, Kevin Brosseau, a former senior law enforcement officer and Prime Minister Justin Trudeau’s deputy national security and intelligence advisor, has been named to the role.The release says Brosseau will work with U.S. counterparts and law enforcement agencies to “accelerate Canada’s ongoing work to detect, disrupt, and dismantle the fentanyl trade.”“Canada needs a fentanyl czar that will co-ordinate between agencies, move quickly to tackle challenges and bring over 20 yea...

Israeli Prime Minister Benjamin Netanyahu on Tuesday threatened to withdraw from the ceasefire in the Gaza Strip and resume its fight against Hamas if the militant group does not go ahead with the next scheduled release of hostages on Saturday. Hamas said Monday — and reiterated Tuesday — that it planned to delay the release of three more hostages after accusing Israel of failing to meet the terms of the ceasefire, including by not allowing enough tents and other aid into Gaza.U.S. President Donald Trump has emboldened Israel to call for the release of even more remaining hostages on Saturday, but it wasn’t immediately clear whether Netanyahu’s threat referred to the release of all remaining hostages in Gaza, or just the three scheduled for release on Saturday.Earlier Tuesday, an Israeli o...

Descrease article font size Increase article font size As attention intensifies on U.S. President Donald Trump’s repeated comments about Canada becoming the 51st state, residents in and around the border town of Woodstock, N.B., are taking notice. The small town is roughly 30 minutes from Houlton, Maine, and for years, the two communities have had a tight connection.“Growing up, we went to Houlton at least once a week,” longtime resident Norma Scott said. Get daily National news Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day. Now, Woodstock residents have a front-row seat to the unfolding drama between the two countries....

Calgary, Saint John, N.B. and Windsor, Ont. are the Canadian cities that would be hit the hardest by U.S. tariffs, says new research by the Canadian Chamber of Commerce. Using Statistics Canada trade data, the organization came up with a “U.S. Tariff Exposure Index” to look at the potential impact of threatened American tariffs on 41 Canadian cities.The research looked at Statistics Canada export data in light of U.S. President Donald Trump’s initial threat to impose 25 per cent across-the-board tariffs on all goods entering the U.S. from Canada and Mexico.Trump delayed those levies until at least March 4 in response to border security commitments from both countries. 4:35 Tru...