Bank of Canada raises policy key rate, signals more hikes may follow
The Bank of Canada raised its key policy rate by 0.25 percentage points on 28 October 2026. The rate now stands at 2.5%. Markets had widely expected the move, which marks the first increase since July 2023. The key policy rate is applied to
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Canada turns to UAE trade deal as tensions with US rise
Canada and the UAE have signed a trade pact that will cut tariffs on more than 99% of Canadian exports to the UAE, as Prime Minister Mark Carney looks for trading partners beyond the US. Canada and the United Arab Emirates (UAE) signed a broad
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US, Canada working to ease steel, auto tariffs
The US and Canada are working towards an agreement to ease tariffs on Canadian steel and autos, reports Reuters. The two governments are seeking to repair relations that deteriorated after trade talks broke down in August. The negotiations centre
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US: Trump Administration eases tariffs on some Canadian agricultural, forestry imports
US President Donald Trump signed an order on 23 October 2026 that removes 50% tariffs on some Canadian agricultural and forestry products. The change could help businesses in Maine, a state that borders Canada. Relief covers building and farm
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US: Trump Says Canada is working hard on a trade deal
US President Donald Trump said on 23 October 2026 that Canada is trying to reach a trade agreement with the US. He made the remarks to reporters at the White House. Trump argued that Washington holds the upper hand. He said Canada is working very
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US: Gellert Global Group sues to block 50% tariffs on Canadian imports
Gellert Global Group, a US food importer, filed a lawsuit on 20 October 2026 to stop new tariffs on Canadian goods. The company argues that the duties are another attempt to use presidential tariff power that courts have already rejected. The
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Canada to table Budget 2026 on 5 November
Canada’s Finance Minister François-Philippe Champagne will table Budget 2026 on 5 November 2026. The Department of Finance Canada announced the date in a media advisory issued on 20 October 2026. This follows the Department of Finance's
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Canada: PBO projects CAD 4.5 billion revenue from proposed high-income tax brackets
Canada’s Parliamentary Budget Office (PBO) released its fiscal analysis of Motion M-24 on 24 September 2026, estimating the proposed personal income tax bracket changes will generate CAD 4.5 billion in net federal revenues over five years after
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US: Trump Administration shows no urgency on Canada trade deal as tariffs escalate
The Trump administration remains comfortable maintaining its trade standoff with Canada despite mounting economic pressures on both sides of the border. US Trade Representative Jamieson Greer stated on 25 September 2026 that Washington feels no
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Canada extends federal fuel tax relief through March 2027
Canada’s Department of Finance has introduced Bill C-38, the Canadian Fuel Affordability Act, on 22 September 2026, extending a temporary suspension of the federal fuel excise tax that began on 20 April 2026, responding to elevated fuel costs
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Canada: Supreme Court rejects Husky Energy bid to challenge dividend tax ruling
The Supreme Court of Canada has dismissed Husky Energy Inc.'s application for leave to appeal on 3 September 2026. The decision upholds a 2025 Federal Court of Appeal ruling that blocked the company from using a tax treaty loophole to reduce
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Canada expands tax breaks with permanent Productivity Mega Deduction to attract global investment
Canada’s Prime Minister Mark Carney announced a new tax measure on 15 August 2026 aimed at strengthening Canada's economy and drawing foreign investors to the country. The initiative, called the Productivity Mega Deduction, expands a previous
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Canada introduces priority tax rulings for investments of CAD 1 billion or more
Canada’s Finance Minister François-Philippe Champagne announced on 14 September 2026 that the Canada Revenue Agency (CRA) will fast-track advance income tax ruling requests for investments worth CAD 1 billion or more. The priority system began
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Canada concludes budget 2026 consultations
Canada's Department of Finance announced on 9 September 2026 that it has concluded its pre-budget consultation process, drawing on input from workers, businesses, indigenous leaders, and individual citizens across the country. The consultations aim
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US implements broad bans on Canadian imports as trade dispute intensifies
The US has prohibited imports of Canadian alcoholic beverages, motorcycles, and dairy products, effective 29 September 2026, according to notices published on the White House website on 8 September 2026. The bans cover spirits including whisky,
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Canada enacts retaliatory tariffs on US imports as trade negotiations collapse
Canada has enacted retaliatory tariffs today, 8 September 2026, just after midnight, covering nearly USD 28 billion in US goods. Prime Minister Mark Carney authorised the measures after negotiations between Ottawa and Washington stalled in the
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Canada extends fuel tax relief through March 2027
Canada’s Department of Finance announced that it has extended its temporary suspension of the federal fuel excise tax on 2 September 2026, providing continued relief as global economic pressures persist. Honourable François-Philippe Champagne,
See MoreCanada completes ratification of UK’s CPTPP accession
Canada has completed its domestic ratification process in July 2026, clearing the final hurdle for the UK's accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), according to the UK government page on the
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