3 d. ago Canadian premiers turn to New England governors for support on Trump tariffs

FREDERICTON — A group of Canadian premiers appear to be setting high expectations as they pursue negotiations with American governors to mitigate the impacts of United States-imposed tariffs on their economies. Premiers from New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland and Labrador, Ontario, and Quebec’s economic minister are scheduled to meet with New England […]

Politics

5 d. ago US Clothes, Toy Costs Show Tariff Hit Only at Margins So Far

For all the hand-wringing about tariffs, Americans are so far experiencing limited inflation from President Donald Trump’s protectionist trade policy.

Economics

5 d. ago U.S. inflation rises slightly. When will tariff impact show?

Economists expect inflation to heat up through the second half of the year. Walmart last month said it would begin raising prices in late May and June.

Economics

1 week ago Toronto's unemployment rate is getting completely out of hand

Looking for a job in Toronto? Join the queue, because as of this month, the city's unemployment rate has surged to a jaw-dropping 8.8 per cent, up from 8.6 per cent just one month earlier.Statistics Canada's latest report on the labour force from coast to coast shows that the nation's largest city is faring the worst of any provincial capital, and of almost any Canadian city, period.Only the census metropolitan areas of Oshawa and Windsor had higher rates of joblessness, of a shocking 9.1 per cent and 10.8 per cent, respectively. (Windsor, as many know, is one of the top three cities in Canada that are most impacted by U.S. tariffs due to its substantial auto manufacturing sector.)The numbers in some rural locales, though, are even more dire.One chart from the government agency shows that an astounding 27.2 per cent of the working-age population in Northern Manitoba is now said to be unemployed, 13.4 per cent in Northern Saskatchewan, 13.1 per cent in...

Other

1 week ago Bank of Canada Holds at 2.75%, Says ‘Could Be a Need’ for Future Cut

The Bank of Canada held interest rates steady for a second consecutive meeting, but officials said there may be a need to cut borrowing costs if the economy weakens and inflation remains contained as US tariffs make an impact.

Other

1 week ago Bank of Canada holds key rate at 2.75% as tariff uncertainty persists

OTTAWA — The Bank of Canada held its benchmark interest rate steady at 2.75 per cent Wednesday as policymakers keep waiting for more clarity on how tariffs will impact the economy. “Uncertainty remains high,” Bank of Canada governor Tiff Macklem said in prepared remarks after the release of the rate decision. “At this decision, there […]

Economics

1 week ago Toy maker Spin Master cuts jobs as it contends with tariff uncertainty

Toy maker Spin Master Corp. says it has cut jobs across the company as it tries to weather the impact of global tariffs on its business. In an emailed statement, spokeswoman Tammy Smitham did not say how many employees were affected. She says the layoffs were one part of a multi-pronged plan to deal with […]

Economics

2 w. ago U.S. spending slows even as tariffs yet to show impacts so far

The figures show inflation is still declining from its post-pandemic spike, which reached the highest level in four decades in July 2022.

Economics

2 w. ago US inflation gauge cools with little sign of tariff impact, so far

WASHINGTON (AP) — A key U.S. inflation gauge slowed last month as President Donald Trump’s tariffs have yet to noticeably push up prices, while American incomes jumped. Friday’s report from the Commerce Department showed that consumer prices rose just 2.1% in April compared with a year earlier, down from 2.3% in March and the lowest […]

Economics

2 w. ago New GDP numbers set to be released to show early tariff impact

The data will give the Bank of Canada a sense of how tariffs from the United States weighed on the economy early in the year ahead of its next interest rate decision.

Economics

2 w. ago As tariffs loomed, Canada’s economy grew 2.2% in the first quarter

The data will give the Bank of Canada a sense of how tariffs from the United States weighed on the economy early in the year ahead of its next interest rate decision.

Economics

2 w. ago Canadians are missing credit card payments at levels not seen in years

Amid soaring living costs, a growing unemployment rate, and economic uncertainty in Canada, more people have fallen behind on credit card payments this year.According to the latest report by Equifax Canada, 1.4 million people in Canada missed at least one credit payment in the first quarter, a level not seen since 2009."Our data shows card payment levels, especially for younger consumers, are starting to fall, indicating this spending slowdown is likely driven more by consumers trying to be prudent rather than switching from credit to debit for financing," said Rebecca Oakes, vice president of advanced analytics at Equifax Canada.On average, Canadians had $21,859 in non-mortgage debt in the first quarter, primarily due to auto loans, as buyers sought to lock in purchases before anticipated price hikes. People have also been more prudent with their spending — the average Canadian's monthly credit card spend dropped by $107, the lowest since March 2022."Despit...

Economics

2 w. ago Fed minutes: Uncertainty ‘elevated’ as risks of higher inflation and unemployment rise

WASHINGTON (AP) — Federal Reserve officials agreed earlier this month to hold off on any interest-rate moves while they evaluated the impact of President Donald Trump’s tariffs on inflation, unemployment, and the broader economy. According to minutes from their May 6-7 meeting, released Wednesday, “almost all” of the 19 officials that participate in the Fed’s […]

Economics

2 w. ago US consumer confidence rebounds after five straight months of declines amid tariff anxiety

WASHINGTON (AP) — Americans’ views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump’s tariffs. The Conference Board said Tuesday that its consumer confidence index rose 12.3 […]

Economics

2 w. ago Japan Allots $2.7 Billion From Reserves to Ease US Tariff Hit

Japan’s government approved a plan to draw ¥388 billion ($2.7 billion) from reserve funds to support businesses and households impacted by US tariffs, in an emergency measure aimed at easing the domestic repercussions of President Donald Trump’s sweeping trade campaign.

Economics

3 w. ago Still can’t find a summer job? Why experts say it’s ‘brutal out there’

The job market is struggling amid the trade war sparked by U.S. President Donald Trump's tariff policies, and young Canadians are especially impacted as summer approaches.

Events

3 w. ago Benefits and credits you may be eligible for in Canada next month

Benefits and credit payments will be issued by the government of Canada or provincial governments in June through several programs, and you may be eligible for some.Most Canadians are now facing a tough time, with the high cost of living, stagnant wages and experts signalling the alarm about an impending recession.According to Statistics Canada's Consumer Price Index for April, the cost of food increased by 3.8 per cent, and housing increased by 3.4 per cent. On the plus side, the cost of transportation dropped slightly by 1.9 per cent.Loblaw CEO Per Bank warns that Canadian shoppers will likely feel the effects of rising prices as tariff-impacted products hit the shelves. According to the company's April food inflation report, products like coffee, liquid eggs, chicken, beef and nuts are set to become more expensive.Now is a great time to check which benefits you may be eligible for in Canada, or which payments you can expect to ...

Economics

3 w. ago Uncertainty continues in Saskatchewan around U.S. tariff impact

Although the 25 per cent automotive tariff was imposed at the start of April, one Regina auto repair shop hasn't seen much of a change in prices, but the uncertainty continues.

Economics

3 w. ago Is Canada heading for recession? One economist says it may lack ‘severity’

A TD economist says Canada is heading into a recession, including job losses, as U.S. President Donald Trump's tariff policies impact businesses, but the severity is uncertain.

Other

3 w. ago U.S. tariffs have had minimal impact on Canada Goose, company says

'Our made-in-Canada products are not currently impacted by the tariffs on imports into the U.S.,' says CEO Dani Reiss

Economics