Canada News Updates

U.S. tariffs on commodities and the resulting uncertainty led to more than $550 million Canadian ($406 million) in forgone revenues last year at Canada’s two largest railroad operators.

China’s imports of canola and canola products from Canada — a trade valued at C$4.9 billion ($3.6 billion) in 2024 — had plunged last year after Beijing imposed steeps levies on the goods.

Canadian Prime Minister Mark Carney said Jan. 25 his country has no intention of pursuing a free trade deal with China, in a response to Trump’s tariff threat.

U.S. Commerce Secretary Howard Lutnick dismissed as “political noise” the moves in recent days by Canada’s Prime Minister Mark Carney to strengthen trade relations with China.

Ontario Premier Doug Ford doubled down on opposition to Canada’s trade truce with China, warning that opening the door to Chinese EVs risks gutting the Canadian sector.

The increase in rationing threatens to widen the discount for Canadian oil at a time when crude prices are already falling amid a glut of supplies.

Breaking with the United States, Canada has agreed to cut its 100% tariff on Chinese electric cars in return for lower tariffs on Canadian farm products, Prime Minister Mark Carney said Jan. 16.

Transportation companies such as C.H. Robinson and XPO have already added services and warehouse space to support customers in Mexico that are shipping or are planning to ship to the U.S.

USMCA was one of Trump’s signature achievements during his first term, replacing the 1992 North American Free Trade Agreement. The deal is subject to a mandatory review this year.

Several Canadian provinces, including Ontario and Quebec, pulled U.S. wine and spirits from stores after President Donald Trump started a trade war last year.