Global Scans · Canada · Weekly Summary

WHAT'S NEXT?: The U.S. and Canada's new governments will have their work cut out dealing with potential changes to their trade agreements while simultaneously Canada will be anxious to implement CETA with the EU.

• [New] Employment recovery in Canada and first signs of inflation in China add ambiguity: some capital will continue seeking yield in risk assets (technology, emerging markets), while geopolitical and trade risks will support demand for safe havens gold and government bonds. Adler's Insights
• [New] Intensifying trade risks (new US-Canada tariffs), slowdown in key UK and German economies, and divergent Fed signals create a backdrop of heightened caution for stocks and corporate bonds. Adler's Insights
• [New] Still on defence spending: Trump demands that NATO partners increase their defence spending to 5% of GDP, Carney promises that Canada will increase its defence spending to 5% of GDP (150 billion dollars / year) by 2035. Jeff Noonan: Interventions and Evocations
• [New] Since Washington has not announced any agreement with the Eurozone, Japan, Canada and Mexico, tariff letters for them will be unfavorable for the US dollar and US assets. World Stock Market
• [New] Other countries that have incredible photovoltaic potential are Brazil, Canada, China, and the U.S. PedirAyudas EN
• [New] Canadian manufacturers will be allowed to import a certain number of U.S.-assembled vehicles free of the added charge, imposed in response to U.S. tariffs on Canadian imports. Barrie 360
• [New] Ottawa will suspend its second wave of retaliatory tariffs after Trump signed an executive order to pause some new duties on Canada and Mexico and reduce potash levies to 10%. Barrie 360
• [New] On the geopolitical front, the UK began reevaluating its national AI institutions to align with sovereign AI strategy, while new U.S. trade tariffs on Canada stirred fears of ripple effects through tech supply chains. The Strategy Stack
• [New] As a consequence of Canada's retaliatory tariffs, the U.S. will charge Canada a Tariff of 35% on Canadian products sent into the United States. Reason.com
• [New] The good news for Canada is that the new tariff rate will not apply - at least for now - to goods under the US-Mexico-Canada free trade agreement, which covers a vast majority of the cross-border trade. BBC News
• [New] Tariffs on certain Canadian imports may rise to 35%, warned the President, while minimum blanket tariffs applied across the board and around the globe may rise from 10% to 15% or even 20%. 24/7 Wall St.
• [New] The United States will implement a 35% tariff on goods imported from Canada starting next month, escalating trade tensions with America's northern neighbour. KAOHOON INTERNATIONAL
• [New] Trade growth will be particularly weak in the United States, Canada and Mexico, and to a lesser extent Europe and China. atradius
• [New] Canada's federal government has said it will work to align with the US after Homeland Security Secretary Kristi Noem said this week that air passengers would no longer need to remove their shoes during pre-flight security checks. KelownaNow
• [New] The United States, Brazil, Canada, and Guyana will drive production growth over the forecast period, with production from countries outside of OPEC + increasing by 1.3 million b/d in 2025 and by 0.5 million b/d in 2026. EIA - Energy Information Administration
• [New] Canada likely is not the main target of U.S. President Donald Trump's threat to impose a 200% tariff on pharmaceutical imports - but his plan could still put parts of the Canadian sector in peril. Rocky Mountain Outlook
• [New] Sweeping tariffs on imports from major trading partners like China, Canada, Mexico, Japan and South Korea have sparked fears of inflation, supply chain disruptions, and potential economic slowdown. investing.com
• [New] Longer Term Mortgage Rate Forecast: 2025-2026 Mortgage Rate Trend: The Bank of Canada is projected to cut its overnight rate by 0.5% and hold. Mortgage Rates Ontario | Mortgage Broker Kitchener | Al
• [New] The Government of Canada will implement reciprocal procurement rules, wherein access to federal procurement opportunities will be limited to Canadian suppliers and trusted international partners offering reciprocal access through trade agreements. TPM Consultants
• [New] If a product is subject to the Section 232 tariffs on automobiles / parts, it will not be subject to the IEEPA tariffs on Canada and Mexico or the Section 232 tariffs on steel and aluminum (and derivatives). Industry Intelligence Inc.
• [New] Canada's move could put pressure on other nations to follow suit and rescind their tech taxes. Yahoo Finance
• [New] Canada's digital services tax predictably triggered U.S. trade retaliation, including Trump's suspension of trade talks and tariff threats. Delphic Research
• [New] New tariffs combined with trade retaliation could cost U.S. dairy farmers $6 billion in lost profits over four years, while Mexico and Canada - representing 40% of U.S. dairy exports worth $8.2 billion - face potential 25% tariff threats that guarantee devastating retaliation. The Bullvine | The Dairy Information You Want To Know W

Last updated: 16 July 2025