Canada in “investment crisis” business council says in federal budget submission- The Business Council of Canada CEO Goldy Hyder urged Prime Minister Mark Carney to control spending in a budget submission, warning against increasing debt without a plan to manage it.
- According to the council's survey, members emphasized the need for fiscal anchors to guide government spending and ensure public finances are responsibly managed.
- Most respondents supported a debt-to-GDP ratio that is stable or declining and advocated for balanced budgets, highlighting concerns over debt-servicing costs.
- The council conducted a survey of its members, with nearly unanimous agreement that the government needs fiscal anchors for prudent budget management.
Trump cuts off trade talks with Canada over Reagan tariff ad - US President Donald Trump announced the end of trade talks with Canada due to an advertisement featuring Ronald Reagan that he claims misrepresents his views on tariffs. Trump stated, "Based on their egregious behavior, all trade negotiations with Canada are hereby terminated."
- The advertisement, reportedly funded by the Ontario government, cost $75 million and criticized US tariffs on Canadian goods, contributing to heightened trade tensions. This ad misrepresented the intent of Reagan's statements about tariffs, according to the Ronald Reagan Presidential Foundation.
- Trump's decision marks a sharp reversal from previous discussions with Canadian Prime Minister Mark Carney about trade negotiations, emphasizing the need for both countries to thrive economically.
- Carney's office did not respond immediately to Trump's announcement, which could inflame existing trade tensions, as over three-quarters of Canadian exports go to the US.
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