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In her resignation letter, Freeland implicitly referred to a Trudeau-fronted proposal to grant $250 cheques to working Canadians who earned $150,000 or less in 2023 as a "costly political gimmick" and argued that the Canadian government should "[keep] our fiscal powder dry today, so we have the reserves we may need for a coming tariff war."
Canada, a highly trade-dependent economy, will also likely suffer, experiencing harmed economic growth and increased prices for businesses and consumers. [1] The Canadian economy could enter a recession within six months if the tariffs are maintained. [68]
January 24, 2025 – Canadian economic crisis The Canadian Immigration, Refugees and Citizenship department announces a limit of 437,000 study permits for 2025, a 10% reduction from 2024, as part of efforts to address pressures on housing, healthcare, and other public services caused by the country's rapid population growth. January 21, 2025 –
Canada's energy minister came to Washington this week to warn U.S. lawmakers about President-elect Donald Trump's tariffs threat on Canada: They'd inflict economic pain on Americans, with higher ...
On Monday, President Donald Trump put a month-long pause on his planned tariffs on Canadian imports. Earlier in the day, though, he added two new items to his long list of inaccurate complaints ...
The economy of Canada is a highly developed mixed economy, [33] [34] [35] the world's ninth-largest as of 2024, and a nominal GDP of approximately US$2.117 trillion. [6] Canada is one of the world's largest trading nations, with a highly globalized economy. [36] In 2021, Canadian trade in goods and services reached $2.016 trillion. [37]
The COVID-19 pandemic had a deep impact on the Canadian economy, leading it into a recession. The government's social distancing rules had the effect of limiting economic activity in the country. Companies started mass layoffs of workers, and Canada's unemployment rate was 13.5 percent in May 2020, the highest it has been since 1976. [1]
PSAC strikers outside a CRA office in Surrey, British Columbia. On April 7, the CRA bargaining group voted to enter a legal strike position. [21] On April 12, the national president of PSAC, Chris Aylward, announced that the Treasury Board bargaining unit had voted overwhelmingly in favour of entering into a legal strike position, thus granting the group a 60-day window to initiate a labour ...