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] In North America, the risk of cargo theft is heightened, with the United States and Canada experiencing significant increases in thefts. Staying Ahead of Cargo Thieves: The Latest Trends and S
• [New] Products imported from Canada and Mexico that do not qualify for USMCA preference will bear a 25% duty for entry into the United States. Benesch, Friedlander, Coplan & Aronoff LLP - UPDATE: Tr
• [New] Despite recent announcements of increased defence spending by the Canadian government, investors seeking opportunities in Canadian defence stocks may find the landscape less promising than they might have initially expected. Million Dollar Journey
• [New] The Canadian government is re-evaluating its planned purchase of F-35 fighter jets from the U.S., considering alternatives that may offer greater domestic production opportunities. Million Dollar Journey
• [New] In recent months, the threats and implementations of tariffs on products from Canada, Mexico and virtually every other country - introduced by the Trump administration - have raised concerns across multiple industries. Institute for Supply Management
• [New] The lack of integration of Canada's fragmented immunization data across provinces and territories makes it more challenging to plan vaccine rollouts, identify coverage gaps or rapidly track adverse events after immunization. The Conversation
• [New] Cargo entering via Canada or Mexico will face additional fees unless substantially transformed, which is intended to capture revenue lost from imports that enter the U.S. by land following ocean transport from abroad. Troutman Pepper Locke - President Signs Executive Order
• [New] The FDA's shift toward natural dyes brings the U.S. closer to regulatory practices in markets such as the European Union and Canada, where synthetic dyes are more heavily regulated or must carry warning labels. Global Financial Market Review
• [New] The downside of a longer term GIC is the foregone potential to earn a higher interest rate if the Bank of Canada raises interest rates. Canadian High Interest Savings Accounts
• [New] Ontario is establishing a new medical school at York University, which will be the first medical school in Canada focused primarily on training family doctors. Ontario.ca
• [New] In recent months, political leaders have revived longstanding fears that Canada has only a tenuous hold over its northern border. The Guardian
• [New] The Canadian aerospace company will replace legacy systems with Siemens' NX and Capital software to streamline engineering and reduce program cycle time. Automation.com
• [New] Canada needs five million affordable homes by 2030 - and building them with Canadian-made low-carbon materials, paired with smarter design, could slash emissions at negligible cost while supporting local industries. Thoughtful Journalism About Energy's Future
• [New] Canada's economy in 2025 is being shaped by global shifts, trade realignments - especially with the U.S. - and region-specific economic disruptions. TCFFCA Magazine
• Caterpillar Inc., the global heavy equipment manufacturer headquartered in Illinois, used its business aviation fleet to fly critical engineers and parts to a remote mining site in northern Canada experiencing a mechanical failure that threatened to halt operations. Jetwhine
• The Canadian economy is showing moderate growth, core inflation spiked to 2.7% (from 2.1% the prior month) is well above the 2% target and tariffs are expected to apply upward pressure on inflation for the near future. Perch
• Other countries, including Canada and the European Union, have implemented retaliatory tariffs, further shrinking export opportunities and increasing costs for U.S. farmers. iGrow News
• Crude oil, natural gas, and refined petroleum products are exempt from tariffs from all countries, including Canada and Mexico, and so we should also not expect gas prices to go up to the extent they have a material effect on air fares, shipping costs, etc. TSNN
• China will have powerful incentives to forge ties with Canada and Mexico. Economic Times
• Ash dispersal from a significant eruption could affect air travel throughout Alaska and potentially reach parts of Canada, posing risks to aircraft engines and reducing visibility. DISA
• Canada's Security and Intelligence Threats to Elections is monitoring the election for disinformation and says it expects increased online political activity following the two closely-watched leaders debates. The Guardian
• Earlier tariff actions on Canada, China and Mexico alone could affect $2.2 trillion in trade activity (if USMCA-compliant goods are no longer exempted). Grant Thornton

Last updated: 30 April 2025