Economic Resilience

Canada Fast-Tracks Infrastructure to Counter Trump, Boost Economy

In response to US tariffs, Canadian Prime Minister Mark Carney announced plans to expedite approval processes for major infrastructure projects, aiming for completion within two years. This initiative, focusing on nation-building projects such as pipelines and trade corridors, seeks to bolster Canada’s economy and reduce dependence on US trade. The accelerated approval framework was discussed in a productive meeting with provincial and territorial leaders, signaling a collaborative approach to economic resilience. Carney characterized the plan as a means to strengthen Canada’s economic autonomy and ultimately become the strongest G7 economy. Trade Minister Dominic LeBlanc will travel to the US to continue trade negotiations.

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China’s Factory Slump: US Trade Tariffs Fail to Deliver Expected Blow

China’s April manufacturing PMI plummeted to 49.0, its lowest point since May 2023, signaling a contraction driven by escalating trade tensions with the U.S. Sub-indexes for production and new orders also fell sharply, reflecting weakened demand. This downturn follows March’s unexpectedly strong growth, attributed to preemptive exports. The government acknowledges the impact of external factors and plans to coordinate domestic policies with trade dispute responses.

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