Canada’s two largest banks suggest that interest rates could be reduced more quickly amid the trade war with the United States. The Royal Bank of Canada and the Bank of Montreal note that the economic impact of this trade conflict could compel the Bank of Canada to continue cutting rates. Douglas Porter, chief economist at the Bank of Montreal, stated that the central bank is expected to reduce rates by 25 basis points at each of its next four meetings through July, potentially lowering the key interest rate to 2 percent. Prior to the trade war, the banks had anticipated only two rate cuts,

Canada has approached the World Trade Organization regarding tariffs imposed by the Trump administration. Nadia Theodore, Canada’s ambassador to the WTO, provided this information on Wednesday. She stated that Canada has requested negotiations with the United States on tariffs through the WTO, noting that the U.S. decision leaves Canada no alternative but to act in order to protect its interests. A WTO spokesperson confirmed that Canada has submitted its request for negotiations. This marks the first stage in resolving the dispute between the two countries. If the issue is not resolved with

Prime Minister Justin Trudeau has stated that his last official day as prime minister has not yet been determined. His remarks come as the Liberal Party is set to announce its new leader on Sunday. At a press conference revealing retaliatory measures against U.S. tariffs, Trudeau explained that the timeline for his departure will depend on discussions between himself and the new party leader. He emphasized that the transition should happen quickly but acknowledged the complexities involved, particularly in challenging times. It is worth noting that Trudeau had announced his resignation on Jan

Ontario Premier Doug Ford has announced the cancellation of a $100 million deal with Elon Musk’s Starlink and imposed a 25 percent tariff on the electricity Ontario supplies to 1.5 million homes in New York, Michigan, and Minnesota. Ford also warned that if President Trump moves forward with additional tariffs on April 2, he will order the province’s energy producer to completely halt energy supplies. Additionally, Premier Ford has instructed the Liquor Control Board of Ontario (LCBO) to remove American liquor from its shelves, which previously generated about $1 billion in annual sales.

Canada's main opposition leader, Pierre Poilievre, has called on the government to target U.S. goods that Canada can produce or purchase from other sources in response to tariffs. He suggested that the revenue from retaliatory tariffs should be used to reduce taxes. Poilievre outlined a seven-point plan to counter President Trump's tariffs. At the same time, Poilievre questioned whether the Liberals effectively handled the fentanyl crisis and whether Trump's tariff actions can be justified. He concluded that the answer to both questions is no.

Premier David Eby has ordered the removal of U.S. liquor from British Columbia’s stores with immediate effect. He stated that the province is ready to address the challenges posed by tariffs imposed by U.S. President Donald Trump. Speaking to the media in Victoria, Eby said the provincial budget includes his previously announced plans to retaliate against U.S. tariffs. The premier explained that the province did not seek this conflict, but it is prepared to stand firm against the trade measures brought by the U.S. administration. He also announced that the provincial government will priorit

Prime Minister Justin Trudeau has strongly criticized President Trump for initiating a trade war with Canada. Speaking to reporters on Parliament Hill, Trudeau accused the United States of targeting its closest ally, Canada, while working positively with Russia to appease a militarized and authoritarian Putin. He emphasized that Canada will not yield to U.S. trade pressures. Trudeau asserted that Canadians are intelligent and humble but determined not to back down. He confirmed that Canada’s tariffs on U.S. goods will remain in place until the United States withdraws its own tariffs. He als

Economists say the Canadian economy is poised to plunge into a recession this year if U.S. tariffs that took effect Tuesday morning remain in place. U.S. President Donald Trump's executive order hitting Canada and Mexico with 25 per cent across-the-board tariffs, with a lower 10 per cent levy on Canadian energy, took effect at 12:01 a.m. ET. Prime Minister Justin Trudeau says Canada's response will include retaliatory tariffs on $155 billion worth of American goods. RSM Canada economist Tu Nguyen says Canada’s economic landscape "is set to change dramatically," as the trade war will mean pri

The Alberta government has announced who it has hired to investigate allegations of improper behaviour and spending irregularities in health contracts. Raymond Wyant is the former chief judge of the provincial court of Manitoba, has also worked as a defence lawyer and a Crown prosecutor, and has taught law at the University of Manitoba. Wyant is to review multimillion-dollar contracts for children's medication and for surgeries done by for-profit providers. The government says Wyant's work is to begin immediately with an interim report to be completed by the end of May.