Canada Financial News

United States President Donald Trump’s tariffs have sparked fears of a recession in Canada, but this country’s largest bank is confident it can overcome any near-term hurdles and continue to post healthy growth during the next few years.

Emerging economies such as India, Brazil and Vietnam, which impose tariff on American imports higher than what the US levies on them, face a high risk of reciprocal tariffs, global ratings agency Fitch said. “Brazil, India, Thailand, Malaysia, South Africa, Turkey and, on a simple average tariff basis, Vietnam and Indonesia, impose notably higher tariffs on exports from the US relative to tariffs imposed by the US on imports from these countries,” it said. US President Donald Trump has threatened with his reciprocal tariffs announcement on April 2 against trading partners he says have been “ripping off” the country by imposing high levies. As per the Fitch report, the tariffs in these economies were higher, both on a simple and trade-weighted average basis. “On a simple average basis, the highest differentials are in Brazil, India and Turkey,” Fitch said.

Music Festival have announced that The Killers will be headlining the event on July 29. The Las Vegas rock band are known for anthems like Mr Brightside and Somebody Told Me. They will be joined by The Beaches and Matt Mays for an unforgettable night. The four-piece band, as per the reports, was formed in 2002. It features singer/keyboardist Brandon Flowers, drummer Ronnie Vannucci, guitarist Dave Keuning, and bassist Mark Stoermer. As per an NTV report, the band has received multiple Grammy nominations, American Music Award nominations, MTV Video Music Awards, NME Awards and more. Tickets for The Killers’ show go on general sale from April 2 at noon, and will be available online at ChurchillParkMusicFestival.com.

Liberal Leader Mark Carney is set to have his first phone conversation with United States President Donald Trump in the coming days, and Trump’s commerce secretary said Canada may get some reprieve from automobile tariffs.

President Donald Trump’s promised tariffs on softwood lumber risk disrupting the supply chain for something nobody wants to be caught without: toilet paper.

Former Bank of Canada governor Stephen Poloz says we are “seriously outgunned” by the Americans in a trade war, arguing Canada will still need the United States down the road.

Canadian energy executives are pretty much all in on building a west-to-east pipeline, suggests a new survey.

Ontario Teachers’ Pension Plan Board chief executive Jo Taylor and his investing team usually rely on a lot of real-world data when determining where to allocate billions of dollars of investment money on behalf of retirees. But United States President Donald Trump’s flurry of edicts that threaten to upend global trade and geopolitical alliances makes it hard to know what data points they should even be looking at.

Samvardhana Motherson International Ltd (SMIL) advanced 3.8% to their intraday high of Rs 137 on the BSE after the company stated that the recently announced US tariffs on imported products, including automotive components, are not expected to materially impact its financials at present. In a regulatory filing on Thursday, SMIL informed exchanges that a significant portion of its products supplied to U.S. customers are either manufactured domestically within the U.S. or are compliant with the United States-Mexico-Canada Agreement (USMCA). Based on this, the company has assessed that the Executive Orders issued by the U.S. government imposing tariffs are unlikely to have a significant financial effect.

Canada and the United States «is over,» Prime Minister Mark Carney said Thursday, after President Donald Trump announced steep auto tariffs. Trump's planned 25 percent levy on vehicle imports to the United States is to come into force next week and could be devastating for a Canadian auto industry that supports an estimated 500,000 jobs. After Trump's announcement, Carney paused his campaign ahead of Canada's April 28 election to return to Ottawa for a meeting of cabinet members working on tactics in the trade war with the United States. He called Trump's auto tariffs «unjustified,» and said they were in breach of existing trade deals between the countries. He also warned Canadians that Trump had permanently altered relations with the United States and that, regardless of any future trade deals, there would be «no turning back.»

Shashi Tharoor has welcomed US President Donald Trump's recent recognition of India's voter ID system in his latest executive order aimed at overhauling the US federal election process. Trump's order mandates proof of citizenship for federal elections and imposes new restrictions on mail-in voting, drawing comparisons with election systems in India and other countries. Reacting to Trump's remarks, Tharoor highlighted that India has had a robust voter verification system since 1952.

Subscribe to enjoy similar stories. One in every five ultra-high net worth individuals in India is either in the process of migrating overseas or plans to, according to a survey by Kotak Private Banking, a unit of Kotak Mahindra Bank. Its study found a higher propensity to migrate among professionals than entrepreneurs or those who inherited their wealth.

Donald Trump's steep tariffs on imported vehicles and parts, vowing retaliation as a widening trade war intensifies, as per a report. Major car exporter Germany urged a firm response from the European Union, while Japan said it «will consider all options», AFP reported. The US duties take effect starting April 3 and impact foreign-made cars and light trucks. Key automobile parts will also be hit within the month. Global stock markets plummeted with automakers like Toyota, Hyundai and Mercedes leading the plunge. In New York, shares in General Motors tumbled with Ford and Stellantis also declining. France Finance Minister Eric Lombard condemned the «hostility,» saying the only solution for the European Union is to «raise tariffs on American products in response.»

Canadian tourists contributed over a third of the tourism economy in Old Orchard Beach, a resort town in Maine, reported Global News. However, things are now starting to change.

Ontario Premier Doug Ford is urging a collective “team Canada approach” from Canada's provinces following US President Donald Trump's announcement to introduce a 25% tariff on car imports, as per CTV News.

Canadian prime minister Justin Trudeau called US president Donald Trump to congratulate him on his historic re-election in November 2024, the talking points were already prepared in a briefing note which suggested that Trudeau congratulate Trump on his “historic election win” and praise his “amazing campaign,” reported CTV News.

Athos Salomé, the «Living Nostradamus,» has boldly foretold the fate of Donald Trump's second term. Salomé foresees a future defined by realignments and economic distress as geopolitical chasms and domestic cleavages broaden.

Canada's Liberal Party revoked Indian-origin MP Chandra Arya's bid to run for the party leadership and his nomination in his own Ottawa Nepean constituency over his alleged ties to the Indian government, a media report said on Wednesday. Citing a source with top-secret clearance, the Globe and Mail daily reported that Arya, who visited India last August and met Prime Minister Narendra Modi, had not informed the government of that trip even though bilateral relations are in a deep freeze. The Liberals have never revealed why they barred the three-term Liberal MP from the party's recent leadership race or from running again in Nepean constituency, the paper said. Citing the source, the daily reported that the Canadian Security Intelligence Service had briefed the government about Arya's «alleged close ties to the government of India, including its High Commission in Ottawa». Liberal Party officials who have security clearances and had received a general CSIS briefing on foreign interference also had concerns about Arya, a Liberal source said. The decisions to remove Arya as a candidate for the leadership and Nepean nomination were solely made by the Liberal Party and were not on the advice of CSIS, sources said.

BYD has led a brutal price war that has pushed it to become the largest seller in the world's biggest car market. This Monday, it reported $107 bn in revenue for 2024, crossing the $100 bn barrier for the first time. Displacing Volkswagen as China's top carmaker by sales, the company is aggressively expanding into overseas markets.