Loonie falls to lowest level since 2003 after tariffs announced

The Canadian dollar fell to its lowest level in more than two decades after U.S. President Donald Trump announced sweeping tariffs to be enacted Tuesday.

The loonie was trading for 68.13 cents US, its lowest level against the U.S. dollar since 2003, compared with 69.04 cents US on Friday.

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💰Trump wants U.S. banks in Canada, he says after speaking with Trudeau

Donald Trump is making fresh demands for Ottawa to allow American banks greater latitude to operate north of the border, following the first of two phone calls scheduled with Prime Minister Justin Trudeau Monday.

Canada doesn’t even allow U.S. Banks to open or do business there. What’s that all about?

Trump wrote on Truth Social Monday morning.
#US
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⏸️ Trump hits pause on trade war after Trudeau vows new border measures

Canada obtained a one-month reprieve from U.S. President Donald Trump’s threatened steep tariffs Monday after promising to invest $200-million more in fighting organized crime and drugs, with additional pledges to appoint a fentanyl czar and designate drug cartels as terrorists.

Under the terms of a deal struck by Prime Minister Justin Trudeau and Mr. Trump, Canada also agreed to launch a new joint strike force to combat organized crime, and illegal production and distribution of the deadly opioid fentanyl.
#US
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💰Trump tariff threat reignites push to slash barriers to trade inside Canada

The now-delayed but still looming threat of U.S. President Donald Trump’s tariffs on Canadian goods has reignited the debate about removing barriers to trade within Canada.

Opposition Leader Pierre Poilievre seized on the issue Monday, releasing a seven-minute video claiming “it’s actually easier for our businesses to sell to other countries than to other Canadian provinces” and that eliminating interprovincial trade barriers could boost family incomes by $6,000 a year.

The federal government’s own 2024 fall economic statement, citing International Monetary Fund data, acknowledges the impact, arguing the country could boost its GDP by as much as 4 per cent, or $2,900 per capita, by liberalizing internal trade.

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Quebec holds off on retaliatory measures as Trump pauses U.S. tariff threat

Premier François Legault said promising tariffs and then suddenly pausing that threat at the last minute hurts Trump's credibility. He said the incertitude has already hurt the economy.

He confirmed late Monday afternoon that, for now, Quebec is pausing its retaliatory measures. But the provincial government is planning various ways to hit back.
#Quebec #US
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At least CNN is right about how overblown this whole situation is.

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B.C. fast-tracking 18 resource projects to reduce reliance on United States

B.C. Premier David Eby's office has shared a list of 18 resource projects that he says the province will be fast-tracking in order to reduce its reliance on trade with the United States.

They are a blend of energy, mining and critical mineral projects that are already on the books, but which the government says it will be working to expedite through the approval process.
#BritishColumbia #US
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📝 Quebec premier says North American free-trade agreement should be reopened now

Talks should begin as soon as possible on renegotiating the North American free-trade agreement, Quebec Premier François Legault said Tuesday in the legislature, as he and other leaders pondered how to respond to the major economic threat south of the border.

The premier said the uncertainty that is being created by the constant threats of U.S. tariffs is like injecting “poison” into the economy. If Trump is unhappy with the North American free-trade agreement, then the U.S., Canada and Mexico should begin talks immediately instead of waiting for a scheduled review in 2026, Legault said.
#Quebec #US #Mexico
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💊Poilievre would impose life sentences for trafficking over 40 mg of fentanyl

Pierre Poilievre says a Conservative government would bring in mandatory life sentences for those convicted of trafficking, production and distribution of over 40 mg of fentanyl.

The Conservatives also want traffickers caught with between 20 mg and 40 mg of the drug to be sentenced to 15 years in prison.

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Doug Ford downplays hot mic comments saying he was pleased Trump won

PC Leader Doug Ford is downplaying some hot mic comments he made to supporters Monday, saying he was pleased when Donald Trump won the U.S. election in November.

On Election Day, was I happy this guy won? One hundred per cent I was. Then the guy pulled out the knife and F***ing yanked it in us.

Ford told supporters at a campaign stop Monday.

Ford said that while many Canadians might have been excited about the change Trump could bring, he’s been “a disaster” and “so disappointing.”
#US
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🚙 Chrystia Freeland says Canada should target Elon Musk’s Tesla in a tariff fight

Chrystia Freeland says Ottawa should target Tesla vehicles and U.S. alcohol as part of its tariff retaliation package to send a message that an attack on Canadian trade would not be cost-free for Trump’s allies.

In an interview, Freeland said there should be a 100 per cent tariff on all U.S. wine, beer and spirits, and on all Teslas.

We need to be very targeted, very surgical, very precise. We need to look through and say who is supporting Trump and how can we make them pay a price for a tariff attack on Canada.

#Freeland #US
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🪖Mark Carney committing to hit 2% NATO defence spending benchmark in 2030

Bad for him to start with promises he can't keep.

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🇬🇧 U.K. PM Starmer tells Canada’s Trudeau he welcomes global conversation on trade

British Prime Minister Keir Starmer told Justin Trudeau in a call that he welcomed an international conversation on the importance of trade and collaboration.

We're on the brink of a trade war and the Brits are already thinking what they can get out of it.
#UK
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🇨🇦🇺🇸Trudeau announces Canada-U.S. Economic Summit

Prime Minister Justin Trudeau announced the Canada-U.S. Economic Summit, set for February 7, 2025, in Toronto. This event aims to boost trade, investment, and productivity.

But will it deliver real results amid ongoing tariff threats?
#US
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💰📈Canada posts first trade surplus in 10 months of $708 million

Canada in December posted its first trade surplus in 10 months as exports expanded faster than imports, led by a push by U.S. businesses to build up inventory ahead of potential tariffs on Canada and generally strong U.S. demand, data showed.

The December trade surplus was at $708 million ($496 million), compared with a revised deficit of $986 million the prior month, helped by an 4.9 per cent growth in exports.

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📊 A Nanos Research poll claims people would pick Mark Carney over Pierre Poilievre and Chrystia Freeland to negotiate with Donald Trump. Smells like BS, eh?

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Quebec man extradited to U.S. over fatal border crossing

A Quebec man, Jhader Augusto Uribe-Tobar, has been extradited to the U.S. to face charges related to the death of Ana Karen Vasquez-Flores, a pregnant migrant who died while attempting to cross the Great Chazy River from Canada into the U.S. in December 2023.

U.S. authorities allege Uribe-Tobar used TikTok to advertise his smuggling services, charging $2,500 for the dangerous journey. Uribe-Tobar faces charges that could lead to a life sentence if convicted.
#Quebec #immigration #US

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🇮🇳🎓 20,000 Indian students didn't show up to class after arriving in Canada

Well, can't expect them to have time for both criminal activity AND classes.
#India #immigration
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1 dead, 15 taken into custody after 3 incidents at the Canada-U.S. border: RCMP

Fleeing the U.S. in search of a better life?
#immigration
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