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.
Russia’s war financing involves a dual strategy: a publicized defense budget and a covert system of state-directed, off-budget loans to defense contractors totaling hundreds of billions of dollars. This off-budget lending, initiated after the Ukraine invasion, has resulted in soaring corporate debt and crippling interest payments, with interest rates reaching 21%. The resulting financial strain is causing concern about potential bankruptcies and a broader economic crisis, potentially overshadowing the officially reported defense spending. Analysts warn that this hidden debt burden, exceeding official military spending, poses a significant threat to Russia’s financial stability.
In response to President-elect Trump’s threatened 25% tariffs on all Canadian goods, Canada is preparing retaliatory tariffs on various American products, including orange juice, toilets, and steel. This response mirrors Canada’s actions in 2018 when similar tariffs were imposed. The proposed Canadian tariffs aim to counter Trump’s economic coercion tactics and his inaccurate claims regarding Canadian resource dependence. High-level Canadian officials have dismissed Trump’s suggestion of Canada becoming the 51st state as a serious negotiating tactic, characterizing it as a distraction from the economic implications of his proposed tariffs.
President-elect Trump threatened to use “economic force,” including substantial tariffs, to pressure Canada into addressing trade imbalances, specifically citing the automotive, lumber, and dairy sectors. Prime Minister Trudeau firmly rejected any possibility of Canada joining the United States, emphasizing the mutually beneficial economic and security partnership between the two nations. Trump’s comments, while seemingly aggressive, were interpreted by some as a negotiating tactic to leverage economic grievances. Despite Trump’s rhetoric, Canadian political leaders across the spectrum have unified in rejecting annexation.
Economic stagnation is causing significant unrest among Russia’s elite. While they may still enjoy opulent lifestyles, the slowing growth is a clear indication that the country’s economic health is deteriorating, a fact that cannot be easily ignored, even by those accustomed to privilege. The Kremlin, naturally, is concerned, but the situation hasn’t yet reached a critical point that would severely hinder their war efforts. This indicates a level of resilience in the Russian system, however fragile it might appear.
The economic slowdown is not solely attributable to external factors such as sanctions. Internal mismanagement, the significant financial investment in the war effort, and other military ventures play a much larger role.… Continue reading
China’s dispatch of officials to Russia to study the impact of Western sanctions is a clear indication of their strategic planning ahead of a potential invasion of Taiwan. The sheer scale of the potential economic repercussions of such an action is undeniable, and this mission highlights China’s attempt to mitigate the foreseeable consequences.
This initiative underscores the gravity of the situation, as China is not simply observing but actively seeking to learn from Russia’s experience. The extensive investigation into every facet of the sanctions—from their economic effects to potential positive impacts on domestic production—shows a meticulous approach to risk assessment. This is not a casual study; it’s a serious effort to prepare for a scenario that would almost certainly lead to crippling international sanctions.… Continue reading
Mexico has issued a stark warning regarding the potential economic consequences of US tariffs, asserting that such measures could result in the elimination of 400,000 American jobs. This bold claim underscores the interconnectedness of the two economies and the potentially devastating ripple effects of protectionist policies.
The Mexican government isn’t simply issuing a warning; it’s also prepared to retaliate. The threat of reciprocal tariffs signals Mexico’s determination to defend its economic interests and highlights the escalating tensions surrounding trade between the two nations. This isn’t a mere spat; it’s a potential trade war with significant consequences for both countries.
The projected job losses in the US extend far beyond the immediate impact of tariffs.… Continue reading
To mitigate the ruble’s slide to its lowest level since the 2022 Ukraine invasion, the Central Bank of Russia announced a suspension of foreign currency purchases on the domestic market until the end of 2024. This decision, extending a previous suspension, aims to stabilize financial markets. These purchases will be postponed until 2025, while the bank will continue selling currency from its sovereign wealth fund to manage the situation. The ruble’s devaluation, while potentially beneficial for exports, also risks increasing inflation.
Eric Trump, appearing on Fox News, threatened Mexico, Canada, and China with tariffs to combat drug trafficking, conflating tariffs with sanctions. His statements echoed his father’s vow to impose significant tariffs on these countries, with Donald Trump specifically mentioning a 10 percent increase on Chinese goods. This action, while framed as targeting foreign economies, is likely to increase costs for American consumers due to hiked prices on imported goods. Economists have widely cautioned against this approach, highlighting the negative impact on American consumers.
Following a pause due to the pandemic and the invasion of Ukraine, Russia plans to resume major public sector layoffs in 2024. This initiative, aiming to cut 10% of staff in territorial branches of federal agencies by 2025, seeks to free up funds to increase salaries for remaining employees. The goal is to reduce the workforce in these branches by approximately 40,000 people, or 0.5% of the country’s overall workforce. While some agencies may achieve this through unfilled positions, the move could result in higher salaries for those remaining, reaching up to 80,000 rubles per month. Notably, employees in Russia-installed administrations in occupied Ukrainian territories will be exempt from these layoffs.
John Q. Hosedrinker 
Matt Underwood