Germany faces February elections after a government vote of confidence loss, while Canada’s Finance Minister Freeland resigns over disagreements on handling US economic nationalism. Despite mixed signals, the UK labor market shows growth, and US retail sales are set to improve, reflecting strong household consumption.
Germany faces February elections after a government vote of confidence loss, while Canada’s Finance Minister Freeland resigns over disagreements on handling US economic nationalism. Despite mixed signals, the UK labor market shows growth, and US retail sales are set to rise, reflecting strong household consumption.
Chrystia Freeland has resigned as Canada’s finance minister, citing policy disagreements with Prime Minister Justin Trudeau, particularly regarding potential tariffs from U.S. President-elect Donald Trump. Freeland, who has served as deputy prime minister since 2019, will take on another cabinet role. She emphasized the need to address the tariff threat seriously, avoiding political gimmicks that could undermine public confidence.
Most economists predict that Prime Minister Justin Trudeau’s government will exceed its self-imposed fiscal constraints, as deficits in Canada worsen. A Bloomberg survey revealed that 13 of 15 economists believe Finance Minister Chrystia Freeland will fail to meet her fiscal commitments, including capping the 2023-24 shortfall at C$40.1 billion. Additionally, there are concerns about maintaining a declining ratio of federal debt and deficits to GDP.
The Canadian government disbursed C$49 billion in loans to businesses during the Covid-19 pandemic, but the auditor general reported a lack of oversight regarding value for money. Approximately C$3.5 billion was allocated to over 77,000 ineligible businesses, representing 9% of the nearly 900,000 recipients of the Canada Emergency Business Account.
U.S. President-elect Donald Trump and Canadian Prime Minister Justin Trudeau held a "very productive" meeting to discuss border, trade, and energy issues amid concerns over a potential trade war. This meeting followed Trump's pledge to impose 25% tariffs on imports from Canada and Mexico, which has raised alarms about retaliatory measures from both countries.
Canadian Prime Minister Justin Trudeau described his recent meeting with U.S. President-elect Donald Trump at Mar-a-Lago as an "excellent conversation." The three-hour dinner covered a range of topics, including trade, border security, and defense, amid concerns over Trump's proposed tariffs on Canada and Mexico.
Canadian Prime Minister Justin Trudeau met with President-elect Donald Trump at Mar-a-Lago for a three-hour dinner following Trump's tariff threats against Canadian products. The discussion covered various topics, including trade, border security, and international relations, with Trudeau being the first G7 leader to visit Trump post-election.
Canadian Prime Minister Justin Trudeau met with U.S. President-elect Donald Trump at Mar-a-Lago amid threats of a 25% tariff on Canadian imports over border issues. Trudeau's visit, unannounced in his public itinerary, comes as his popularity wanes due to economic challenges. He has called a meeting with provincial premiers to address U.S. relations and counter the tariff threat, which could significantly impact Canada's economy, particularly its oil and gas exports.
Canadian Prime Minister Justin Trudeau arrived in Florida for a dinner with President-elect Donald Trump at Mar-a-Lago, amid looming tariff threats on Canadian imports. The unannounced visit follows Trump's recent announcement of pending tariffs affecting Canada, Mexico, and China.
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