Canada has reported its biggest drop in exports in nearly 17 years due to US tariffs, pushing the country's trade deficit to a record high. Canada posted a trade deficit of $7.1 billion in April, its highest ever, as demand from the US weakened. The trade deficit in March was $2.3 billion. Total exports fell 10.8 per cent in April, the third consecutive monthly decline and the biggest decline since December 2008 during the global financial crisis, excluding the Covid period, according to data released by Statistics Canada on Thursday. Exports to the US fell 15.7 per cent and imports from th

Canada's central bank has decided to keep its benchmark rate at 2.75 percent in its decision on Wednesday on interest rates. This is the second time in a row, before this, the Bank of Canada had kept interest rates unchanged in April after seven consecutive cuts. From June 2024 to March 2025, the bank had cut interest rates by a total of 225 basis points in view of controlling inflation and supporting the economy. The Bank of Canada said in an official statement that Trump has continued to reduce and increase tariffs and uncertainty about this remains at a high level, which has softened the

President Donald Trump's steel tariff issue echoed in Canada's House of Commons today. The Conservatives surrounded Prime Minister Mark Carney on it. After Opposition Leader Andrew Scheer, the party's Ontario MP Liane Rudd challenged the Liberals to present a budget. He said that the government should now show transparency and present a budget so that Canadians can know how much, if any, the government has collected from the alleged retaliatory tariffs. Retaliating on this, Finance Minister Francois-Philippe Champagne said that instead of showing Canada down, this is a time to show solidarit

Today marks the start of new 50 per cent tariffs from the United States on steel and aluminum imports.That's double the previous rate. Prime Minister Mark Carney once again called the tariffs unlawful and unjustified as he headed into a Liberal caucus meeting today. But Carney says his government isn't ready to respond just yet because they are in intensive trade discussions with the U-S to have tariffs removed under a new economic and security deal. The Canadian steel and aluminum industries say doubling the tariffs will have a devastating impact while economists warn they could lead

Jobs Minister Patty Hajdu is calling on Canada Post and its union to return to the bargaining table to hash out terms for binding arbitration. In a social media statement Wednesday, the minister also asked the Crown corporation and the Canadian Union of Postal Workers to continue to work toward a deal outside of that process. She says arbitration is not the preferred path, but suggested the stage would be set for an imposed settlement if the two sides could not find common ground themselves. The minister says Canadians expect the parties to resolve the impasse and that federal mediators are st

Canada is reaching out to China amid the trade war with the United States. Prime Minister Mark Carney says his government is in ministerial talks with Chinese officials to remove Chinese tariffs on Canadian agricultural and seafood products, and that the issue is a top priority for the federal government. PM Carney made the comments after a meeting with the premier in Saskatoon yesterday. A statement issued after the meeting said the premier wants Canada to improve its trade relations with China. After imposing the import duties of 25 to 100 percent on Chinese-made electric vehicles, steel a

White House press secretary Karoline Leavitt says U.S. President Donald Trump will double steel and aluminum tariffs Wednesday.Leavitt says Trump will sign an executive order to increase the duties to 50 per cent later today.

New Public Safety Minister Gary Anandasangaree has tabled a bill in the House of Commons that spells out Ottawa's next steps on border security.He says the legislation would give authorities new powers to search mail and allow officials to pause or cancel immigration applications more easily.   It would also expand the Canadian Coast Guard's role to include security activities. It's all part of Canada's effort to persuade U-S President Donald Trump that Canada is doing enough to stem the southbound flow of drugs and migrants. Trump blamed fentanyl and irregular migration to jus

Public Safety Minister Gary Anandasangaree is expected to introduce a bill today spelling out the federal government's next steps on border security. The recent throne speech promised legislation to bolster security at Canada's borders and new tools for police and intelligence agencies to help them stop the flow of deadly fentanyl and its precursors. The government also said the Canada Border Services Agency will be given new powers to examine goods destined for export to prevent the movement of illegal and stolen products, including cars. The Liberals have worked to persuade U.S. President Do