Former Canadian Conservative Prime Minister Stephen Harper has praised Prime Minister Mark Carney’s efforts to diversify Canada’s trade during his closing remarks at the two-day Canada Investment Summit in Toronto. Harper supported the federal government’s decisions in the energy sector and said Canada had little choice but to step back from trade negotiations with the United States. He said reducing Canada’s dependence on the U.S. and redirecting trade toward other countries would bring challenges, but expressed confidence that Canadians would be able to manage them. Harper also prais

Canada’s Official Opposition Conservative Party has begun a two-day parliamentary caucus meeting in Penticton, B.C., under the leadership of Pierre Poilievre. The meeting comes ahead of the parliamentary session starting September 21 and is expected to give Poilievre an opportunity to rally his MPs, as the Conservatives are currently trailing the Liberals by double digits in the polls. According to reports, several Conservative MPs who have returned from working in their ridings during the summer break are increasingly concerned about potentially losing their seats in the next election. Cont

European Commission President Ursula von der Leyen has proposed opening talks on making Canada the European Union’s first associate member. The proposal was made Wednesday during von der Leyen’s annual address to the European Parliament in Strasbourg, with Canadian Prime Minister Mark Carney in attendance. Addressing Carney, von der Leyen said the EU wants to take its relationship with Canada “to the highest level.” She said the partnership extends beyond trade and is based on shared values, including cooperation on artificial intelligence, climate change, the Arctic and geopolitical i

Prime Minister Mark Carney has indicated that visa requirements for Canadians could be raised during his visit to Europe as Canada seeks to deepen its strategic and economic relationship with the European Union. Carney left Canada Tuesday for a three-day trip to Strasbourg, France, and Liverpool, UK. In Strasbourg, he is attending European Commission President Ursula von der Leyen’s annual State of the Union address and will address the European Parliament on Thursday. During the trip, Carney is also expected to meet UK Prime Minister Andy Burnham in Liverpool for discussions on defence, s

Canada’s central bank could raise interest rates in the coming months as rising global crude oil prices increase inflationary pressures. Economists believe the Bank of Canada’s chances of raising rates by December are growing, despite Canada’s annual inflation rate remaining steady at 3% last month. Economists at Desjardins Group and RSM Canada say it may be difficult for Bank of Canada officials to ignore oil prices above US$100 a barrel, particularly if the increase persists. While core inflation remains under control for now, economists warn that continued oil price shocks could push

Prime Minister Mark Carney has announced a major tax break for companies making new investments in Canada. Under the new measure, businesses will be able to immediately claim 100 per cent of the cost of eligible new investments, including machinery, equipment and technology, as a tax deduction. Announced Tuesday, the measure is being called the “Productivity Mega Deduction” and is aimed at encouraging businesses to invest more in their operations. The government says making investments cheaper will give companies greater incentive to spend on expanding and improving their businesses, helpi

Amid rising tensions in the Canada-U.S. trade war, Prime Minister Mark Carney called the United States a “friend” during his keynote address at an investment summit in Toronto. Carney said the two countries will always remain neighbours and that Canada will continue to be the United States’ most important partner in several key areas. He acknowledged that the two countries have had disagreements in the past, but said their relationship has remained close. According to Carney, the relationship works best when there is mutual trust and respect for each other’s traditions and sovereignty.

The Mark Carney government is expected to formally announce the next steps on Tuesday to open the door to private and foreign investment in four of Canada’s major airports. According to reports, the Liberal Party held a special caucus meeting Monday night to discuss private investment in the country’s airports. Sources say the government is expected to outline a process for allowing foreign or other private investors to acquire stakes in major airports, including Vancouver, Calgary, Toronto Pearson and Montréal-Trudeau. The airports are currently operated by not-for-profit airport authori

New U.S. tariffs of 50 per cent on 110 Canadian products took effect Tuesday, expanding the range of goods affected by the escalating trade dispute between Ottawa and Washington. The new duties apply to products including certain cheeses, all-terrain vehicles, motorboats, furniture, aluminum products, paper and wood products, iron and steel structures, mattresses and lamps. The changes were made under U.S. tariff measures announced by the Trump administration. At the same time, the United States removed 10 Canadian product categories from the 50 per cent tariff list. Those include salt, Portla