Global Scans · Canada · Weekly Summary

WHAT'S NEXT?: The U.S. and Canada's new governments will have their work cut out dealing with potential changes to their trade agreements while simultaneously Canada will be anxious to implement CETA with the EU.

• [New] Canada is expected to be the fastest-growing country at a CAGR of 7.8% from 2026 to 2033, fueled by expanding access to neurology care, increasing adoption of advanced epilepsy and depression treatments, and improving reimbursement support for neuromodulation devices. Data Bridge Market Research
• [New] Canada's existing counter-tariff on US steel and aluminum will increase from 25% to 50% to match the new US rate; its existing counter-tariff on US-made vehicles continues unchanged. Zonos
• [New] The hit to the Canadian economy from the new tariff developments will be greater than the hit to the U.S. economy. Russell Investments
• [New] Canada has announced that it will implement dollar-for-dollar retaliatory tariffs on a subset of American goods. Russell Investments
• [New] The 2026 Watch List highlights the top 10 emerging technology platforms and issues in regenerative medicine that are expected to have significant and meaningful impact on health care systems in Canada over the next 5 years. NCBI Bookshelf
• [New] Canada is expected to report a strong rebound in growth in Q2 after contracting in the previous two quarters. investing.com
• [New] Trade war tensions between the United States and Canada are on the rise, a risk to the U.S.' inbound travel recovery. Skift
• [New] Canada has said it will retaliate with dollar for dollar tariffs of its own on American goods. HuffPost UK
• [New] More than three-quarters of the 64 professors who are moving to Canada from around the world will come from the US. BBC News
• [New] Growing oil production and exports by 1.5 million barrels per day could boost Canadian economic activity, or GDP, by $31 billion per year over the next decade. Canadian Energy News, Top Headlines, Commentaries, Feat
• [New] Canada must balance many different considerations when selecting which U.S. products to tariff in order to cause maximum pressure in the United States with minimal disruption at home. CBC
• [New] Fastest-growing Region: Canada is expected to register the fastest regional growth at a 6.1% CAGR (2026-2033), fueled by Canadian Armed Forces equipment modernization and offshore oil & gas platform maintenance requirements. Persistence Market Research
• [New] Oxford Economics reckons the trade conflict would reduce Canadian economic growth only slightly in 2027 - from a previously forecast 1.6% to 1.4%. Reading Eagle
• [New] The dollar-for-dollar, rate-for-rate counter-tariffs will be paired with $5.4 billion in support to protect Canadian workers and businesses. The Week
• [New] Canada's retaliation might be felt most acutely in border states set to hold midterm elections that could swing control of the U.S. Senate. Los Angeles Times
• [New] The retaliatory Canadian measures will cover C$27.6bn ($19.9bn) in imports and are meant to target key industries including steel, dairy, appliances, agricultural equipment, pulp and paper. The Guardian
• [New] Canada has announced it will impose tariffs on a wide range of key American industries including cosmetics, dairy, wood products and outdoor equipment in the coming weeks, as it retaliates roughly dollar for dollar against levies imposed by the US. The Guardian
• [New] If Canadian manufacturers replace U.S. inputs with European or Asian alternatives, or vice versa, the additional transportation and production could increase the carbon footprint of goods. The Environment Journal
• [New] Canada will drop many of its retaliatory tariffs to match U.S. exemptions for goods covered under the USMCA pact. Los Angeles Times
• [New] Canada's new government will support strategic, pre-development projects in the Labrador region, funded under the First and Last Mile Fund through Natural Resources Canada. Prime Minister of Canada
• [New] Fastest-Growing Country: Canada is projected to record the fastest growth during the forecast period, driven by federal CERRC funding, BC Hydro modernization initiatives, and national efforts to decarbonize more than 200 remote Indigenous communities. Persistence Market Research
• [New] Under Canada's planned response, US steel and aluminum products previously subject to a 25-percent duty will soon face 50-percent tariffs.
• [New] In response to recent tariffs, Canada announced a major long-term LNG export deal with Germany's Uniper, and stated its aim to redirect 55% of energy exports away from the US by the early to mid 2030s. OMFIF

Last updated: 02 September 2026