Canadian economy

New NDP Leader Avi Lewis Challenges Economic Unfairness

Prime Minister Mark Carney’s Liberal Party has secured a slim majority in Canada’s House of Commons, granting him greater leeway to pursue his agenda. This comes as Canada faces an increasingly dangerous and divided world, with the United States adopting protectionist trade policies that threaten Canadian industries. The National Democratic Party (NDP) has elected socialist activist Avi Lewis as its new leader, who ran on a platform of affordability, equity, and higher wealth taxes. Lewis aims to rebuild the NDP by offering concrete solutions for Canada’s cost-of-living crisis and advocating for an independent economy, countering Carney’s focus on resource extraction and foreign investment.

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Canada Rethinks Overreliance on US Economic Ties

Canadian Prime Minister Mark Carney stated that while Canada’s close economic ties with the United States were once a strength, they have now become a vulnerability that requires correction. Citing increased U.S. tariffs and a general climate of trade uncertainty, Carney emphasized the need for Canada to diversify its economy and reduce its reliance on a single foreign partner. The Prime Minister outlined his government’s plans to attract new investments, expand clean energy capacity, and reduce internal trade barriers to build a more resilient nation capable of withstanding global disruptions.

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IMF: Canada’s Fiscal Position Strongest in G7

For those navigating the current housing market, FP’s Spring Real Estate Survival Guide provides essential insights into the latest trends and expert advice. This guide is designed to equip prospective homebuyers with the knowledge needed to make informed decisions during the spring selling season. It aims to demystify the complexities of real estate transactions and highlight emerging opportunities for buyers.

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Canada’s GDP Stagnates at 0%: A Win or a Worry?

The Canadian economy experienced a stall in November 2025, with GDP measured at zero percent, following a 0.3% drop in October. Declines in goods production, particularly in the manufacturing sector (down 1.3%), offset gains in services. This downturn was significantly impacted by U.S. tariff policies, especially on Canadian manufacturing exports, leading to uncertainty and a cautious approach from businesses. The trade war showed accelerated weakness in the manufacturing sector and led the Canadian Chamber of Commerce to expect little rebound in December.

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Canada and South Korea Partner on ‘Invest in Canada’ Initiative

During a meeting in Ottawa, senior officials and business leaders from Canada and South Korea aligned on the Invest in Canada initiative to bolster industrial cooperation across various sectors. The two nations emphasized leveraging this platform to foster long-term investment, particularly highlighting large-scale projects like Canada’s Patrol Submarine Project as catalysts for broader Korean investment. Discussions focused on expanding collaboration in advanced manufacturing, clean energy, and defense, transitioning from transactional trade to enduring partnerships that support local production and resilient supply chains. Both sides acknowledged their complementary strengths, viewing the initiative as a strong foundation for strengthening economic security and global competitiveness.

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Canadian Consumers Paid $3B in Taxes Due to U.S. Counter-Tariffs

Canada’s Finance Department revealed that over $3 billion had been collected through U.S. counter-tariffs before a significant portion of the levies were removed in September, falling far short of the government’s initial $20 billion revenue projection for the fiscal year. Prime Minister Carney opted to remove most of the tariffs to advance trade negotiations with the United States, despite a lack of agreement. This decision is expected to contribute to a deeper deficit in the upcoming budget. While the government defends its approach, the Canadian Steel Producers Association has criticized the exemptions granted on certain imports, which have further reduced the anticipated tariff revenue.

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Canada Seeks China Trade Deals Amid US Trade Tensions

This comprehensive list details a complete directory of all United States and Canadian locations, including states, territories, provinces, and military installations. The organization encompasses all 50 U.S. states, Washington D.C., and several U.S. territories like Puerto Rico and Guam. Additionally, the list extends to include every Canadian province and territory. Finally, it notes the inclusion of a Zip Code for each of these locations.

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Carney’s “Buy Canadian” Policy Sparks Debate: Concerns Over TFW Program, Economic Impact

The Canadian government’s “Buy Canadian” policy, expected to be fully implemented by spring 2026, will be featured in the upcoming fall federal budget and is designed to prioritize Canadian suppliers in all federal spending. The policy, with initial elements potentially in effect by November, aims to make supporting Canadian industries an obligation, impacting federal procurement, infrastructure spending, and more. While details are still being finalized, and questions arise concerning trade agreement compliance, the policy is intended to boost the Canadian economy, though some sectors, like renewable energy, express concerns about potential complications and delays. Experts are also questioning whether the policy can succeed and remain compliant with trade agreements.

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