His comments underscored ongoing tensions between the United States and Canada over automotive trade, even as his administration claims to be working toward a broader economic agreement. Earlier this month, the Trump administration imposed a 25 per cent tariff on all automobile imports into the U.S. While the Canada-United States-Mexico…

The decision reflects a cautious stance by the central bank, as it waits for more clarity on evolving U.S. trade policy and the potential impact of global tariffs. The choice to hold the rate steady comes amid signs of economic weakness. Canada’s economy has slowed notably, with household spending and…

According to a report from the Bank of Montreal, the ‘Buy Canadian’ movement could provide a meaningful boost to the Canadian economy. Such a boost could potentially add around $10 billion annually and support economic growth. This consumer shift reflects behavioural economics in action. BMO estimates the movement could add…

The survey was conducted by Vancouver-based lending firm Spring Financial, with an online survey polling 1,500 Canadians. 74 per cent of respondents felt uneasy due to ongoing tariff threats. This figure rose to 80 per cent among Generation Z participants and those earning under $50,000 annually. Economic tensions between Canada…

As a CPA in Canada, you know that audits are an unavoidable part of the tax landscape. The Canada Revenue Agency (CRA) conducts audits for a very broad range of reasons. Some of these are to ensure compliance, verify reported income, and assess eligibility for tax benefits and refunds. While…

This move comes as the central bank grapples with the economic uncertainty caused by escalating trade tensions with the United States. The policy rate now stands at 2.75 per cent, its lowest level since September 2022. While Canada’s economy showed resilience at the beginning of 2025, the ongoing trade dispute…

Trump recently imposed a 25 per cent tariff on non-energy imports from Canada, alongside a 10 per cent levy on energy imports. In response, Canada unveiled retaliatory tariffs of 25 per cent on $30 billion worth of U.S. goods, with plans to escalate this to $155 billion in three weeks…

However, a White House official has stated that this timeline could change, depending on negotiations between the two countries. There have been no updates on the progress of talks, meaning the tariffs remain on track as originally planned. Earlier this month, Canada was granted a temporary 30-day pause on these…

Carney’s policies aim to generate a more sustainable economic environment without compromising essential services. During a speech in Toronto, Carney highlighted the need for Canada to focus on fiscal responsibility. He also criticized the current government for overspending. Carney took aim at the Trudeau government’s failure to meet spending goals…

According to minutes released by the central bank, Canada’s open economy and heavy reliance on exports to the U.S. make it vulnerable to tariffs and trade disruptions. Projections suggest that while both countries would experience GDP losses, Canada’s would be more pronounced. The Bank of Canada’s governing council noted the…