Tag #Canada-Us Trade

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SSENSE Bankruptcy Filing Amid US Tariff Pressure

Canadian luxury retailer SSENSE plans to file for bankruptcy protection, citing pressure from US tariffs on low-value parcels, the elimination of a duty-free shipping exemption, and lender actions.

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theglobeandmail.com
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Canada, Mexico to Hold Talks Amidst US Tariff Dispute

Canadian Finance Minister Champagne and Foreign Affairs Minister Anand are traveling to Mexico City for bilateral talks this week following failed trade negotiations with the U.S., which resulted in a 35 percent tariff increase on Canadian goods. The meetings aim to strengthen the Canada-Mexico rela...

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Revised U.S. Tax Credit Could Boost Canadian Canola Demand

The U.S. House of Representatives approved a revised clean fuel tax credit that removes restrictions on Canadian canola, potentially boosting demand and benefiting Canadian farmers who have faced decreased U.S. sales and Chinese tariffs; the credit eliminates the indirect land use change (ILUC) poli...

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Carney's New Cabinet Prioritizes Rapid Economic Restructuring

Prime Minister Mark Carney formed a new Canadian cabinet focused on rapid economic change, appointing François-Philippe Champagne as Finance Minister, Dominic LeBlanc for Canada-U.S. trade, and Mélanie Joly as Industry Minister; business leaders are cautiously optimistic but want to see quick action...

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Canada's Beer Industry Faces $330 Million Hit from Aluminum Tariffs

US tariffs on Canadian aluminum and Canadian retaliatory tariffs on US aluminum cans will cost Canada's beer industry $330 million annually, impacting breweries of all sizes due to the reliance on US-made cans and the lack of domestic can manufacturing capacity.

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Ford Suspends Energy Surcharge Amid Trump Tariff Threats

Ontario Premier Doug Ford suspended his 25 percent surcharge on U.S. power exports following threats from President Trump to double tariffs on Canadian steel and aluminum; Ford and federal Finance Minister Dominic LeBlanc will meet with U.S. officials to discuss further.

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Air Canada Flight Attendants Vote to Strike

Air Canada flight attendants could strike as early as August 16, impacting over 10,000 workers after contract negotiations with the airline failed; the Canadian government also announced a $1.2 billion support package for the softwood lumber industry, and Shopify reclaimed its position as Canada's m...

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Canada-U.S. Trade Talks, NDP Leadership Race, and Unemployment Drop

Prime Minister Mark Carney is leading Canada's trade negotiations with the U.S., facing a potential August 1st deadline and threatened 35% tariffs on certain goods; the NDP is holding a leadership race with a $100,000 entry fee, and the Canadian unemployment rate dropped to 6.9% in June.

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Ontario Budget Prioritizes Infrastructure Spending to Counter US Tariffs

Ontario will unveil a budget on Thursday that prioritizes infrastructure spending to counteract the economic impact of US tariffs on its auto, steel, and aluminum sectors, instead of balancing the budget immediately; the plan includes long-term growth strategies and fulfills election promises of tax...

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theglobeandmail.com
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USMCA Compliance Poses Significant Challenges for Canadian Businesses Facing New Tariffs

New U.S. tariffs penalize Canadian goods non-compliant with the USMCA agreement; while many Canadian exports could become compliant, 10-20 percent of U.S.-bound shipments are estimated to be infeasible to make compliant, disproportionately affecting businesses with non-North American supply chains.

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Ontario Officials Head to Washington Amid Canada-U.S. Trade War

Ontario Premier Doug Ford and Finance Minister Dominic LeBlanc will meet with U.S. Commerce Secretary Wilbur Ross on Thursday in Washington to discuss the ongoing trade war between Canada and the U.S., following Ontario's brief imposition and subsequent withdrawal of a 25% electricity surcharge on t...

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theglobeandmail.com
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Alberta to Sell 2 Million Barrels of Heavy Oil Monthly Amidst US Trade Tensions

Alberta Premier Danielle Smith is negotiating with an undisclosed multinational oil company to sell two million barrels of province-owned heavy oil monthly, a strategy resulting from Alberta's decision to collect bitumen royalties in-kind to increase market control, maximize resource value, and enha...

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Showing 1 to 12 of 18 results