President Trump announced plans to impose a 10% tariff on Chinese goods starting February 1st, citing unfair trade practices. Simultaneously, he threatened tariffs against the European Union for similar reasons. These actions follow previous threats of 25% tariffs on Mexico and Canada, prompting retaliatory measures from Canada, which is preparing counter-tariffs. Trump’s stated goal is to achieve fairer trade deals, although economists warn of potential negative consequences for American consumers and businesses.
Read More
Trump’s plan to impose 25% tariffs on imports from Mexico and Canada by February 1st is generating significant controversy and widespread concern. The sheer scale of the proposed tariffs on two of the US’s largest trading partners is alarming, particularly given the potential for reciprocal actions and the resulting economic fallout. The timing, just five years after renegotiating the trade deal with these very nations, adds another layer of bewilderment. This sudden move seemingly contradicts the stated goals of improved trade relations.
The potential for soaring prices across a wide range of goods is a major point of worry. From everyday food items like eggs – ironically cited as a reason for supporting this administration – to larger purchases such as automobiles and appliances, the impact of these tariffs will be felt by a vast segment of the population.… Continue reading
On his inauguration day, President Trump opted against immediately imposing tariffs on Canada, Mexico, and China, despite previous threats. Instead, he will direct agencies to investigate trade deficits and unfair trade practices from these countries. While this provides temporary relief for Canada, the threat of future tariffs remains, with Canada prepared to retaliate with its own tariffs on American goods should they be imposed. The decision to delay tariff implementation allows Trump to prioritize other inaugural day initiatives, but Canada remains vigilant and is proactively engaging with the Trump administration on trade concerns.
Read More
Increased military spending among NATO members is unlikely due to several factors. A proposed increase to a 3% GDP defense spending target, potentially rising further, faces challenges from a looming trade war initiated by protectionist measures from the U.S. This trade war, coupled with existing budgetary constraints, makes a significant increase in defense spending improbable for many nations. While some nations support a proposed 5% target, others deem it unrealistic given current economic conditions and the threat of escalating trade conflicts.
Read More
In response to threats from the U.S. to impose tariffs on Canadian goods, Ontario Premier Doug Ford’s wearing of a “CANADA IS NOT FOR SALE” hat sparked a surge in national unity and sales of the hat. Created as a rebuttal to hostile comments from a Fox News host, the hat’s popularity transcended political divides, with praise coming from federal and provincial leaders across the spectrum. However, Alberta Premier Danielle Smith’s refusal to support retaliatory measures, such as blocking energy exports, exposed divisions within the Canadian Conservative party and created friction with the federal government. This conflict highlights the tension between provincial interests and the need for a unified Canadian response to the potential trade war.
Read More
The Shopping Trends team operates independently from CTV News journalists. This team may receive commission on purchases made via provided links. Full details regarding the team’s operations are available via a linked page.
Read More
Canadian Foreign Minister Mélanie Joly warned that President-elect Trump’s threatened 25% tariff on Canadian goods would result in a “Trump tariff tax” for Americans. Canada plans retaliatory tariffs, targeting key American industries and products, should the tariffs be imposed. This action risks significant economic harm to both nations, impacting sectors such as autos, energy, and agriculture, with Canada prepared for a substantial response. The potential economic fallout is substantial, impacting both GDP and numerous American jobs, as highlighted by both Joly and former finance minister Chrystia Freeland.
Read More
Following meetings in Washington, D.C., Foreign Affairs Minister Melanie Joly briefed Canadian first ministers on January 15th, 2025. The update focused on Canada’s ongoing efforts to mitigate the impact of U.S. tariffs. These Washington meetings covered key areas of border security, trade, and investment. Minister Joly’s report aimed to inform the first ministers on the progress made in addressing these crucial bilateral issues.
Read More
President-elect Trump spoke with President Xi Jinping, expressing optimism about resolving various bilateral issues, including trade imbalances, fentanyl trafficking, and TikTok’s future. Despite Trump’s previous threats of high tariffs on Chinese imports and a history of strained US-China relations, he anticipates collaborative problem-solving. The call follows increased tensions stemming from trade deficits, cybersecurity concerns, and differing geopolitical strategies. However, both sides have consistently affirmed their desire to avoid a new Cold War.
Read More
The World Bank forecasts a sluggish 2.7% global economic growth in 2019, mirroring the performance of 2019 and representing a significant weakening. This rate, while manageable, is insufficient to elevate living standards globally. The projection reflects concerns over factors such as potential US tariffs, which could severely impact international trade and overall economic health. This subdued growth highlights the fragility of the current economic climate.
Read More
John Q. Hosedrinker 
Matt Underwood