Bank of Canada Governor Tiff Macklem has warned that US tariffs and Canada’s retaliatory measures will have a devastating impact on the economy, potentially derailing growth and causing inflation to rise again. Speaking at an event hosted by the Mississauga Board of Trade and the Oakville Chamber of Commerce on Friday, Macklem emphasized that the economic shock from the tariffs would be significantly different from the shock caused by the Covid-19 pandemic. He explained that the tariffs would permanently reduce Canada's output, a blow greater than that of the pandemic. Additionally, Macklem

Opposition is intensifying against Indo-Canadian candidate Viresh Bansal, who is contesting the Ontario provincial election. Vicky Dhillon, the Ontario Liberal Party candidate from Brampton East, has also launched a campaign against Bansal. Dhillon has written a letter to the party, urging that Bansal be removed as the Liberal Party candidate for the Oshawa riding. Dhillon stated that Bansal's comments are inexcusable. He criticized Bansal for not only verbally attacking various communities, including the Sikh community, but also for using offensive language against federal NDP leader Jagmeet

US tariffs on Canada could take effect on March 4, according to Public Safety Minister David McGuinty. The minister indicated that despite efforts by the federal government to strengthen border security and combat drug trafficking, there is no guarantee that Canada will be able to avoid tariffs imposed by the Trump administration. In an interview, McGuinty emphasized that the steps Canada is taking to address these issues will not stop. He stated that the federal government will continue to enhance border security measures. It is worth noting that earlier this month, President Trump postponed

Canada’s main opposition leader, Pierre Poilievre, has criticized Liberal Party leadership candidate Mark Carney, claiming that Carney’s leadership could lead to the disappearance of Canada’s steel sector jobs. Poilievre alleged that US President Donald Trump aims to move Canada’s steel jobs to the United States and that Carney would facilitate this shift. The Conservative Party leader accused Carney of advising Prime Minister Justin Trudeau since 2020 and supporting policies that have negatively impacted millions of Canadians while allowing jobs to flow to the US. He further argued t

US President Donald Trump has claimed that he canceled $21 million in funding allocated for India. He suggested that the previous US administration may have used this funding to influence the election of a leader other than Prime Minister Narendra Modi in India. Trump questioned the reasoning behind the United States providing financial support to increase voter turnout in India, especially considering India’s strong economy. He indicated that this funding might have been intended to support another political figure and stated his intention to share further details with India. Meanwhile, In

Canada defeated its archrival the United States 3-2 in overtime in the 4 Nations Face-Off final on Thursday night in what was an emotionally-charged affair for players and fans alike. The rematch between the two sides was intense, although it did not consist of three fights in the opening nine seconds, as the preliminary round game in Montreal did last Saturday, a 3-1 win for the Americans. Connor McDavid scored the game winner, while Nathan MacKinnon and Sam Bennett scored in regulation for Canada. Brady Tkachuk and Jake Sanderson replied for the U.S. The Canadian national anthem was booed l

Calgary Mayor Jyoti Gondek will address the city's industries this afternoon about the potential impact of U.S. tariff threats. Her office notes that these tariffs could affect the city's oil, livestock, and small businesses, and she will offer suggestions to mitigate the effects. U.S. President Donald Trump has announced tariffs on sectors including oil, gas, agricultural products, dairy, and alcohol. The Canadian Chamber of Commerce recently reported that cities like Calgary, St. John, and Windsor could face significant economic losses due to these tariffs. A recent report also highlights t

President Donald Trump has once again targeted Canada. In a social media post, he mentioned that he would be watching the 4 Nations Face-Off final tonight between Canada and the United States. He also extended an invitation to Canadian Prime Minister Justin Trudeau by calling him 'Governor Trudeau'. Trump made this comment on his Truth Social platform, noting that while he wouldn't attend the game in person, he would be supporting the team by encouraging them over the phone. The special hockey tournament features players from Canada, the United States, Sweden, and Finland. The match between C

The Canadian softwood industry is bracing for a significant challenge as reports suggest that the U.S. Department of Commerce may increase anti-dumping duties on Canadian softwood lumber. Currently, most Canadian producers are paying a 7.66% anti-dumping duty on lumber shipments to the U.S. However, this rate could rise to as much as 20%. The new duty rate is expected to take effect in August. The anti-dumping duty is being raised because the U.S. alleges that Canadian producers are selling softwood lumber in the U.S. at prices below market value. Vancouver-based forestry analyst Ross Taylor