trade war Archives - Mortgage Rates & Mortgage Broker News in Canada

BoC holds rate at 2.75%, outlines two paths for economy as trade tensions cloud outlook

April 16, 2025 No Comments

The Bank of Canada held its benchmark interest rate at 2.75% on Wednesday and unveiled two diverging scenarios for the economy, reflecting the unprecedented uncertainty triggered by U.S. tariffs.

Canada’s merchandise trade falls into deficit as exports tumble

April 3, 2025 No Comments

Canada’s merchandise trade balance swung back into deficit in February, weighed down by a broad-based decline in exports following months of front-loaded shipments ahead of U.S. tariff threats.

Canada spared from Trump’s new import tariffs, but auto sector still faces 25% levy

April 2, 2025 No Comments

Canada has avoided the brunt of a sweeping new round of U.S. tariffs announced today by U.S. President Donald Trump, who unveiled a blanket 10% levy on all imports—excluding only Canada and Mexico under the USMCA trade pact.

Trump’s tariffs on Canada: A timeline of trade tensions

March 19, 2025 No Comments

Trade tensions between Canada and the U.S. have escalated rapidly since the start of the year, with President Donald Trump imposing sweeping tariffs on Canadian goods, prompting swift retaliation from Ottawa.

Economists react to Bank of Canada rate cut

Economists react to the Bank of Canada’s 25-bps rate cut: What’s next for rates?

March 12, 2025 No Comments

The Bank of Canada cut its overnight rate by 25 basis points to 2.75%, its seventh straight cut. While expected, the move comes as the Bank tries to navigate economic uncertainty and the fallout from U.S. trade tensions.

Ontario backs down on electricity surcharge after Trump threatens 50% tariffs

March 11, 2025 1 Comment

Ontario has backed away from its controversial 25% surcharge on electricity exports to the U.S., following sharp warnings from the White House about substantial retaliatory tariffs.

U.S. tariffs set to slow pace of homebuilding in Canada: CHBA

March 4, 2025 No Comments

Canada’s building industry is warning that a trade war with the United States will slow down the pace of home construction.

U.S. tariffs on Canada and Mexico will take effect Tuesday, Trump says

March 3, 2025 No Comments

U.S. President Donald Trump has confirmed that his long-threatened trade war will go ahead, with tariffs on Canadian goods scheduled to take effect just after midnight tonight.

Trump confirms tariffs on Canada and Mexico set for March 4

February 27, 2025 No Comments

President Donald Trump has officially confirmed that tariffs on Canadian and Mexican imports will go into effect on March 4, 2025, following his comments earlier this week suggesting a delay.

Tiff Macklem, governor of the Bank of Canada, speaks during an event at the Toronto Region Board of Trade in Toronto

Bank of Canada warns of economic fallout if U.S. trade war escalates

February 21, 2025 2 Comments

Bank of Canada Governor Tiff Macklem warned that Canada faces a significant economic hit if the U.S. proceeds with broad-based tariffs on Canadian exports, a move that would stifle growth, weaken the loonie and add upward pressure to inflation.

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