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U.S. businesses claim Canada is a back door for products from China
As U.S. President Donald Trump sticks with his campaign of tariffs on imports from Canada, some American industries are accusing Canadian competitors of using cheap materials from China in ways that violate free trade rules and undercut U.S. companies. The accusations emerged during recent public hearings in Washington into the future of the Canada-U.S.-Mexico Agreement (CUSMA). During the hearings, leaders from a wide range of business sectors urged the Trump administration to renew the trade deal when it comes up for review in July. However, several industries — from steel producers to truck-parts suppliers to ... (full story)
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The Bank of Canada today held its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. Major economies around the world continue to show resilience to US trade protectionism, but uncertainty is still high. In the United States, economic growth is being supported by strong consumption and a surge in AI investment. The US government shutdown caused volatility in quarterly growth and delayed the release of some key economic data. Tariffs are causing some upward pressure on US inflation. In the euro area, economic growth has been stronger than expected, with the services sector showing particular resilience. In China, soft domestic demand, including more weakness in the housing market, is weighing on growth. Global financial conditions, oil prices, and the Canadian dollar are all roughly unchanged since the Bank’s October Monetary Policy Report (MPR). Canada’s economy grew by a surprisingly strong 2.6% in the third quarter, even as final domestic demand was flat. The increase in GDP largely reflected volatility in trade. The Bank expects final domestic demand will grow in the fourth quarter, but with an anticipated decline in net exports, GDP will likely be weak. Growth is forecast to pick up in 2026, although uncertainty remains high and large swings in trade may continue to cause quarterl BoC Rate Statement: Underlying inflation is still around 2.5%. BoC Rate Statement: Q4 GDP growth likely to be weak. Final domestic demand will grow in Q4 but will be offset by a decline in net exports. BoC Rate Statement: Canadian labor market is showing some signs of improvement. BoC Rate Statement: Q4 GDP growth likely to be weak; final domestic demand will grow in Q4 but will be offset by a decline in net exports.
From sharecafe.com.au | Dec 9, 2025
China’s leadership is preparing for potential increases in global trade tensions as they formulate economic strategies for the upcoming year. This comes after the nation accumulated a record trade surplus, exceeding $US1 trillion within 11 months, despite ongoing trade disputes with the United States. The Politburo’s recent meeting highlighted the need for ...
The Bank of Canada is set to announce today its last interest rate decision of the year. In its most recent decision in October, the central bank lowered its benchmark interest rate by a quarter point to 2.25 per cent. Market data shows most economists expect the bank will leave the benchmark rate unchanged as economic trends improve. Jobs data out last ...
