The Canadian dollar fell to its lowest level in nearly two decades on Monday, trading at 68.13 US cents. This marks its weakest point since 2003. The decline follows US President Donald Trump’s announcement of a 25% tariff on Canadian goods, effective Tuesday. On Friday, the Canadian dollar was valued at 69.04 US cents. In retaliation, Canada plans to impose equivalent tariffs on $30 billion worth of American goods starting Tuesday. While the tariffs will raise prices on US imports, the weaker Canadian dollar will further increase the cost of imported goods and make international travel mor

Canada’s opposition leader, Pierre Poilievre, announced Monday that, if elected prime minister, he would implement a plan to enhance domestic trade, aiming to add over $200 billion to Canada’s GDP. The Conservative leader described former U.S. President Donald Trump’s tariffs as a wake-up call, urging Canadian provinces to collaborate and improve internal trade. Poilievre emphasized that Canadians expect their leaders to take decisive steps toward self-reliance, beginning with stronger domestic trade networks. While acknowledging that this initiative alone cannot fully offset economic d

A tariff war has escalated between Canada and the United States, with President Donald Trump announcing new tariffs on Canadian and Mexican imports on Saturday, prompting swift retaliation from Prime Minister Justin Trudeau. The U.S. will impose a 10% tariff on Canadian oil and gas and a 25% tariff on all other imports starting Tuesday. In response, Trudeau announced an initial 25% tariff on $30 billion worth of U.S. goods, expanding to $155 billion by the end of the month to give Canadian businesses and supply chains a 21-day window to adjust. Trudeau has also urged Canadians to prioritize l

Prime Minister Justin Trudeau spoke with U.S. President Donald Trump this morning regarding the ongoing trade war, which poses a significant threat to workers and businesses on both sides of the border. Another meeting between the two leaders is expected later in the evening. While neither the Prime Minister’s Office nor the White House disclosed details of their discussion, Trump claimed on social media that American banks are not allowed to operate freely in Canada. He also linked the trade conflict to the issue of drug trafficking. Trump alleged that millions of Americans have died due t

Tariffs on Canada and Mexico are set to be imposed tomorrow. The White House has dismissed reports suggesting that the tariffs would be postponed until March 1. White House Press Secretary Karoline Leavitt, in response to reporters' questions, confirmed that these reports are incorrect. She stated that President Trump will implement a 25 percent tariff on Mexico and Canada, along with an additional 10 percent tariff on China starting tomorrow. It is worth noting that Reuters had previously reported, citing sources, that the tariffs on Canada and Mexico might be delayed for at least a month. Ho

Prime Minister Justin Trudeau announced that Canada will respond immediately if President Donald Trump imposes tariffs tomorrow. Speaking in Toronto, Trudeau expressed that Canada does not support such measures but will take swift action if necessary. To address US tariffs, an 18-member council on Canada-US relations has been established. This council includes representatives from the automotive industry, nuclear power sector, and labour movement. Its purpose is to improve bilateral relations and provide strategic advice on Canada’s response to potential tariffs. Ahead of leading a council

The Canadian government has postponed the capital gains tax increase to January 1, 2026. The Trudeau government had announced this tax increase in the April 2024 budget, originally set to take effect on June 25, 2024. However, it was not officially enacted by Parliament, even though the government began collecting the increased tax from the scheduled date. People affected by this tax expressed concerns about whether they would have to continue paying the higher capital gains tax without formal legislative approval. The bill failed to pass the House of Commons last year due to political deadlo

Liberal leadership contender Mark Carney is expected to announce a plan on Friday to abandon consumer carbon pricing but keep industrial pricing in place. “The consumer carbon tax isn’t working — it’s become too divisive," Carney said in a written statement provided to The Canadian Press ahead of the announcement. "That’s why I’ll cancel it and replace it with incentives to reward people for greener choices." That would include energy efficient appliances, electric vehicles and improvements to home insulation, he said. Carney, a former Bank of Canada governor who has spent the las

The third week of striking by educational assistants at Edmonton Public Schools is almost over and the union says there’s no end in sight. They say negotiations are deadlocked. The school board and educational assistants with public schools returned to the bargaining table last Thursday, both sides still unable to strike a deal. Union leaders want significant raises to account for the increased cost of living since the last union agreement ended five years ago. A third-party mediator landed on a 2.75 per cent raise over four years, not nearly enough says the union. Education support staff