AGP Executive Report

Canada–U.S. trade fight: Prime Minister Mark Carney told Washington to “stop doing memes” and said talks could resume only if the U.S. gets serious, warning its approach could “gradually” wind down Canadian industries. Central banking: The Bank of Canada is set for its 6th rate decision of the year, with most expecting another hold at 2.25% as tariff uncertainty and Iran-driven energy price swings keep inflation choppy. Markets: Global stocks slid again as U.S. yields rose and renewed U.S.–Iran tensions pushed oil higher, dragging Canada’s TSX. Energy & resources: Axens was selected to supply tech for Canadian SAF and renewable diesel projects; in Sudbury, officials say critical-minerals tariff threats won’t derail nickel and copper exports. Business adaptation: Lululemon is expanding into resale with its Like New program and a Calgary processing hub. Tech & finance: Laser Digital and Keyring announced a partnership to build institutional fixed-income products in on-chain markets. Immigration policy: A C.D. Howe Institute panel urges Ottawa to cut temporary resident numbers further and improve tracking of people who overstay. Consumer/retail: JioHotstar launches in the UK, Canada and Singapore with 160,000+ hours of content (no live sports at launch).

Canada-U.S. Trade War: Prime Minister Mark Carney told Washington to “stop doing memes” and get serious, warning U.S. demands could leave Canadian industries “gradually wound down” as Canada prepares retaliatory tariffs starting Sept. 8. Tariffs’ Cost Pressure: A separate analysis says the tariff response could hit consumers and households, with prices rising as retaliation stacks on top of earlier duties. Labour & Auto: Unifor and Stellantis begin contract talks amid tariff uncertainty and job-security worries tied to the Brampton plant. Health Policy Watch: New Brunswick advocates warn Alberta’s Bill 11 could ripple nationally by shifting doctors toward private clinics and straining public access. Economy & Markets: Tech-led selling dragged U.S. stocks lower, while Canada’s market also slid as investors weighed trade and growth risks. Business Pivot to “Buy Canadian”: Food and household-goods makers say demand for Canadian-made products is surging, but some retailers are slow—pushing firms toward direct-to-consumer sales. Corporate Moves: Bombardier will buy MHI Canada Aerospace assets in Mississauga, bringing about 750 employees in-house. Investing & Capital Markets: Brookfield Office Properties reset dividend rates and conversion terms for its preference shares. Energy Tech: ENDVR Energy partnered with Spotlite to use satellite and AI tools for vegetation management to reduce outages. Deal News: Prosper Gold closed its sale of the Golden Sidewalk project to Kenorland. Other Canada Business: Four Seasons Toronto is first in Canada to loan out luxury handbags to guests.

Canada–U.S. Trade War: Mark Carney’s Liberals swept three special elections as voters backed his approach after Trump imposed 50% tariffs on about $20B of Canadian goods, with Canada set to retaliate Sept. 8; the fight is also spilling into everyday business, from menu tweaks tied to “Lake America” to grocers and c-stores pushing local sourcing. Markets & Macro: The Canadian dollar edged up as Canada posted its first current account surplus in four years, a $17B swing driven by stronger exports, while GDP growth rebounded 3.3% annualized in Q2. Auto Sector: GM Canada workers approved a deal to build a new heavy-duty GMC Sierra truck in Ontario, with GM pledging major investment as tariff uncertainty looms. Investment Promotion: Carney appointed Dominic Barton and Gurinder Grewal to lead Invest in Canada, aiming to attract $1T in investment over five years with less reliance on any single trading partner. Immigration & Education: IRCC raised the proof-of-funds requirement for study permits starting Sept. 1, including higher living-expense amounts for international students. Health & Pharma: Canada’s drug agency issued a final positive recommendation for public reimbursement of Leqembi (lecanemab) for early Alzheimer’s disease. Energy & Industry: Ballard completed its £275M GeoPura hydrogen acquisition, and GM’s Ontario truck plan plus other industrial moves underline how quickly policy shocks are reshaping Canadian investment decisions.

Canada-U.S. Trade War: The tariff fight keeps tightening: Ottawa is set to start dollar-for-dollar counter-tariffs Sept. 8, while U.S. Treasury Secretary Scott Bessent says the U.S. isn’t “at war” with Canada despite the escalation. Auto & Manufacturing Pressure: Analysts warn Toyota and Honda could be hit hardest as supply chains get pulled into the cross-border tariff spotlight, and Michigan exporters face up to 50% Canadian retaliation on metals and related goods. Bank of Canada Watch: Markets expect a rate hold, but the central bank is juggling trade-war slowdown risk against energy-driven inflation. Great Lakes Naming Row: “Lake America” briefly appeared on some Canadian sites’ maps via a third-party mapping label, then reverted—fueling more political heat. Retail Response: Canadian grocers are doubling down on “buy Canadian” signage and clearer country-of-origin labels as tariffs reshape what shoppers see. Business & Policy Updates: Canada hikes study-permit proof-of-funds requirements from Sept. 1, and the CDA-AMC gave a final positive reimbursement recommendation for LEQEMBI for early Alzheimer’s. Energy & Agriculture: CN Rail says grain shipments are running strong into the new crop year, while oil prices jump after U.S. strikes near the Strait of Hormuz.

Canada–US trade war: Trump urged Canadian firms to relocate to the U.S. “immediately,” claiming companies are “pouring” back to avoid tariffs as Ottawa counters with “dollar-for-dollar” levies and new 50% auto-related threats loom for Jan. 1, 2027. Bank of Canada: With trade uncertainty back in focus, the BoC is expected to hold rates steady at 2.25% while markets watch how tariffs feed into prices and growth. Auto industry pressure: Analysts warn Toyota and Honda could be forced to scale back Canadian production if U.S. car tariffs bite—raising the stakes for jobs tied to Canada’s auto supply chain. Immigration & housing strain: The C.D. Howe Institute’s immigration targets council wants deeper cuts to temporary residents and better tracking of departures, citing gaps in data for study and work permit holders. Student visa costs: IRCC raised the minimum proof-of-funds for international students starting Sept. 1, 2026. Energy & uranium: Paladin signed a third mutual benefits agreement with a Saskatchewan First Nation for its Patterson Lake South project, while nuclear demand support continues to underpin uranium sentiment. Business expansion: Hyundai Capital launched its India unit to expand auto dealer financing, and Samsung Biologics published a tender offer prospectus for PolyPeptide. Markets backdrop: G20 finance talks in Asheville put growth and Iran pressure on the agenda as investors weigh geopolitical risk. Other notable: Regulators signaled a tentative no to sports-focused prediction markets in Canada.

Canada-U.S. Trade War Escalates: Trump again attacks Canada as “worst” and urges firms to move operations to the U.S., promising “no tariffs” if they do—while the tariff fight keeps widening and Canada prepares retaliatory measures. Local Business Pressure: Maine Gov. Janet Mills warns Canadians in a Toronto Star op-ed that the trade war is already hurting border towns and manufacturers, urging de-escalation before Sept. 8. Policy Push for Internal Trade: Ottawa’s ministers meet in Iqaluit to cut interprovincial barriers, aiming for a “one Canadian economy” with faster services recognition and labour mobility. Road Safety Research: New VCHRI-led findings suggest rural drivers are more likely than urban drivers to have alcohol, cannabis and other impairing substances detected after crashes—pointing to targeted prevention needs. Health-Care Training: Hamilton’s McMaster Children’s Hospital launched PEARLS Day to boost pediatric emergency readiness through hands-on simulation across southwestern Ontario hospitals. Fraud Warning: A Canadian MP urges stronger anti-fraud measures as losses climb and scams become more sophisticated. Energy & Diplomacy: U.S. Treasury’s Scott Bessent faces a G20 test amid tariffs, Iran-linked sanctions pressure, and bond-market worries.

Canada-U.S. Tariff War: Mark Carney’s government is hitting back after the U.S. invoked an old tariff statute to impose 50% duties on $20B of Canadian imports, with Ottawa retaliating dollar-for-dollar and warning of higher costs and uncertainty for Canadian firms. Auto Sector Shock: GM is reportedly planning a C$1.1B Ontario investment tied to a tentative Unifor deal, as Canadian plants brace for tariff escalation to 50% on Jan. 1, 2027. Policy Leverage Debate: Economists say Canada’s “leverage” options exist, but the price could be steep—especially if energy becomes part of the fight. Legal Questions: Trade lawyers are flagging that the U.S. tariff authority used by Trump has never been tested in court, raising the odds of legal challenges. Global Finance Mood: European central bankers are leaving Jackson Hole uneasy about possible U.S. norm-breaking, including Treasury actions that could signal more intervention. Immigration & Skills: IRCC says doctors can pursue permanent residence through five pathways, while Canada also tightens proof-of-funds and work-permit requirements for international applicants. CPP Timing: A new guide stresses there’s no one “right” age to start CPP—your health, income needs, and other savings matter more than the number on your birthdate. Defense Industrial Push: As U.S. relations fray, Canadian companies are expanding into defense production, from sensors and drones to military uniform assembly.

Canada-U.S. Trade War: Trump’s latest tariff escalation is colliding with Canadian retaliation, with fresh duties hitting everything from autos and building materials to farm equipment and household goods—raising costs and uncertainty for manufacturers and dealers on both sides. Auto Sector Deal: GM has reached a tentative Unifor agreement that would add next-generation heavy-duty GMC Sierra pickup assembly to an Ontario plant, while pledging not to immediately sell or close a second Canadian facility—an important win as 2027 tariff threats loom. Legal Questions on Tariffs: The U.S. is using an obscure 1930-era tariff statute (Section 338), and lawyers say it’s untested in court, leaving open the risk of a legal challenge. Business Impact Watch: Local chambers and industry groups are warning that counter-tariffs and supply-chain frictions could ripple into prices and jobs, even as governments roll out support. Energy & Nuclear Debate: Ontario’s proposed “world-scale” nuclear plant in Port Hope’s Wesleyville area is sparking backlash amid memories of radioactive cleanup. Immigration Rules: Canada is raising proof-of-funds requirements for international students starting Sept. 1, 2026, including higher thresholds for families. Pharma Patent Cliff: The industry is bracing for its biggest patent expirations in decades, pushing dealmaking and new product bets. Tourism Pressure: Parks Canada is considering new restrictions as Lake Louise and Banff visitation strain capacity. International Business: Canada is also recruiting top researchers from the U.S. and expanding ties with partners like Ukraine and India as trade tensions reshape global opportunities.

International Students: Canada is raising the minimum funds for study permits starting Sept. 1, 2026, to C$23,448 for a single student outside Quebec (up C$553), with higher amounts for families. U.S.-Canada Trade War: Defence procurement officials are signaling Canada may be reluctant to rely on sole-source U.S. military contracts as tariffs and tensions persist, while auto and manufacturing sectors brace for price hikes and job risk from 50% U.S. tariffs on Canadian goods. Economy Watch: Statistics Canada says real GDP grew at a 3.3% annualized rate in Q2, rebounding on exports and business investment, though July looks flat as tariff uncertainty weighs. Talent & Research: Ottawa is recruiting 64 prominent scholars (48 from U.S. universities including Harvard, Cornell and MIT) amid tighter U.S. university funding scrutiny. Critical Minerals: Canada and Chile are deepening cooperation on critical minerals and mining tech, including a five-year underground mining technology partnership. Business Climate & Skills: Research warns widespread generative AI use may make business storytelling harder to differentiate. Markets & Corporate Moves: Norsemont Mining plans a restatement of financial statements to correct debenture classification and related disclosures.

Canada-U.S. Trade War: Canada’s economy rebounded sharply in Q2, with GDP up at a 3.3% annualized pace (fastest since 2023) as domestic demand revived and exports grew—though economists warn the latest tariff wave adds uncertainty. Postal Sector: Canada Post reported a $277M pre-tax loss in Q2, improving from a year ago as labour stability returned after a new CUPW contract and parcels revenue jumped 20.7%. Tariff Politics: Premiers are split on using resources as leverage, with potash emerging as a flashpoint; Ontario argues for tougher action, while Saskatchewan and Alberta warn of long-term backlash. Regional Business Support: P.E.I. rolled out $10M in tariff relief loans plus grants to help businesses adapt, while Ontario funded Barrie’s export development push for tariff-impacted firms. Education & Immigration: IRCC increased the proof-of-funds requirement for international students starting Sept. 1, 2026 (living expenses for one person: C$23,448). Talent & Innovation: Canada is recruiting 64 researchers, many from the U.S., backed by $500M+ over eight years, and Ottawa is investing $195M in Xanadu to build advanced quantum manufacturing in Canada. Cross-border Mobility: An Edmonton-born father returned to Canada after nine months in U.S. ICE custody, though his sons remain in Texas.

Canada–U.S. Trade War Escalates: Trump threatened 50% tariffs on Canadian-made cars and parts, warning Washington doesn’t want Canada building vehicles for the U.S., as the broader tariff fight deepens. Retaliation & Cost Pressure: Canada is set to hit back with “dollar-for-dollar” counter-tariffs and a $7.5B support package for tariff-affected employers, while analysts warn both economies will feel the pain. Fresh Diplomatic Flashpoint: Trump ordered Lake Ontario renamed “Lake America,” prompting a sharp response from PM Mark Carney and renewed political heat over trade concessions. India–Canada Deal Push: Finance ministers Nirmala Sitharaman and François-Philippe Champagne reiterated plans to conclude a Canada–India trade deal by end-2026 and start a Bilateral Investment Treaty early, including work on cross-border remittances and payments. Mining & Jobs: Glencore Canada hit a shaft milestone at Sudbury’s Craig mine for its Onaping Depth all-electric underground project, targeting first ore later this year. Banking Watch: Canadian banks reported Q3 results, with RBC and peers pointing to resilient outlooks amid tariff uncertainty. AI & Culture: Canadian artists and music groups are pushing for AI rules on consent and pay as the federal consultation on AI transparency continues. Policy & Markets: Regulators weighed how to oversee prediction markets in Canada, while investors tracked TSX moves alongside global rate-talks ahead of Jackson Hole.

Canada-U.S. Trade War: Trump signed an executive order to rename Lake Ontario “Lake America,” escalating a dispute that followed the collapse of tariff talks and new U.S. duties; Canada has retaliated with counter-tariffs, though it has backed off some seafood targets after industry feedback. Tariffs & Business Impact: Industry groups warn the tariff fight will raise shipping and consumer costs and disrupt North American sourcing, with agriculture and consumer goods among the hardest hit; local chambers are preparing for fallout as businesses scramble to adjust suppliers and routes. Energy Leverage Debate: Alberta’s finance minister pushed back on using energy as a trade-war lever, arguing it would “hurt Canadians,” as policymakers debate whether export taxes or other pressure points are credible. Life Sciences Investment: Evonik is expanding lipid-based drug delivery capacity in Vancouver with a new GMP facility, backed by federal funding. Research Talent Pull: Canada announced major funding to bring 64 global researchers to Canadian universities, including dozens from the U.S., as part of a broader science recruitment push. Payments Deal: RBC and BMO sold Moneris to Francisco Partners for about C$2B while keeping referral relationships—another sign banks are rethinking what they must own. Markets/Regulation: CIRO issued a sanctions decision tied to Paul Vincent Ongcapin Encarnacion and Mari Sophia Mendoza Encarnacion, and also halted trading for a TSX-Venture issuer pending delisting.

Canada-U.S. Trade War: Ottawa is adjusting and expanding counter-tariffs after industry feedback, including raising steel and aluminum duties to 50% and setting new retaliation on hundreds of U.S. products effective Sept. 8, while a $7.5B support package targets affected firms and workers. Retail “Buy Canadian” Push: Consumers are renewing patriotic shopping as costs rise, with shoppers saying their resolve is strengthened and some are cutting U.S. subscriptions and brands. Everyday Price Pressure: The tariff fight is already expected to hit U.S. toilet paper prices because Canadian wood pulp and paper inputs are central to the supply chain. French Language Clash: Prime Minister Mark Carney says Canada can’t accept a U.S. deal that weakens French language and culture protections, escalating trade tensions beyond tariffs. Canada-India Business: Finance Minister François-Philippe Champagne meets India’s counterpart in Toronto, while Nirmala Sitharaman pitches Canadian investors on India’s reforms and tax certainty. Markets & Tech: Nvidia’s strong outlook is lifting sentiment, and OpenAI expands ChatGPT ads into more markets including Canada. Defense Industry Boom: Canada’s push for self-sufficiency is driving new contracts and growth in domestic defense manufacturing.

Canada-U.S. Tariffs Escalate: Ottawa is matching Washington with retaliatory duties on $27.6B (C$) of U.S. goods, with rates of 15%, 25% and 50% across about 700 products starting Sept. 8, alongside a C$7.5B support package for workers and businesses. EI Support Update: The federal government says it’s easing access to Employment Insurance for workers affected by the tariff shock, including changes for people who left a previous job within a year. Trade Pressure Map: Canadian officials say the tariff list is designed to hit politically important U.S. states, raising stakes for industries tied to cross-border supply chains. Energy Leverage Debate: As Ottawa refuses to tip its hand on using Alberta oil and gas as leverage, experts warn that cutting off energy exports could backfire and inflame regional tensions. Local Business Fallout: Cities and chambers, including Mississauga and North Bay, are gathering input and planning “buy local” and advocacy moves as uncertainty weighs on jobs tied to U.S. exports. Policy & Security Watch: The Bank of Canada has begun enforcing new payment rules under the Retail Payment Activities Act, publishing its first decisions. Defence Procurement: Canada’s Army is seeking drone suppliers for surveillance and cargo-drop roles under its Minerva modernization push. Canada-India Investment Pitch: Finance Minister Nirmala Sitharaman urged Canadian investors to deepen ties with India’s banking, fintech and digital finance infrastructure. Other Notables: A survey finds 57% of Canadians are interested in Indigenous-led tourism, but many don’t know where to find it.

US-Canada Trade War Escalates: Canada will impose counter-tariffs of 15%–50% on about CAD 27.6B (US$20B) of U.S. imports starting Sept. 8, matching Washington “dollar for dollar” after the U.S. set 50% duties on Canadian goods Aug. 22; the list targets roughly 700 products, including 50% hits on steel, aluminium, furniture, clothing, smartphones, cosmetics and some foods, plus 25% tariffs on items like cheese, fish/seafood and appliances. Auto Industry Pressure: Trump also warned tariffs on Canadian cars, trucks, auto parts and steel will rise to 50% from Jan. 1, 2027, drawing pushback from Canada and U.S. labour leaders. Everyday Cost Anxiety: Analysts and economists warn the tariff fight is moving beyond big-ticket goods into everyday items, adding uncertainty for businesses and households. Political Theatre Over Lake Ontario: Trump floated renaming Lake Ontario “Lake America,” but Canadian ministers and Ontario Premier Doug Ford shrugged it off as pure distraction. Affordability Watch: Separate coverage highlights how health-care costs are rising fast enough to worsen Canada’s affordability squeeze, even as trade tensions threaten more pressure on prices. Global Business Angle: India’s finance minister courted Canadian investors in Toronto, pitching investment opportunities as Ottawa and Washington clash.

Canada-U.S. Trade War Escalates: Ottawa has announced dollar-for-dollar counter-tariffs on about $27.6B (700+ products) from the U.S., effective Sept. 8, with duties of 15%, 25% and 50% targeting sectors like steel/aluminum, dairy, appliances, agricultural equipment, pulp & paper, electronics and seafood—after Washington’s 50% tariffs on roughly $20B of Canadian exports kicked in Saturday. Business Support Package: Alongside the tariffs, Canada rolled out a C$7.5B aid plan for workers and firms, including loans and retraining support. Negotiations Freeze: Prime Minister Mark Carney says Canada will return to talks only when the U.S. brings the “right attitude,” rejecting claims that Canada is being treated like a U.S. subsidiary. Retail Impact Watch: Loblaw is reinstating a “T” tariff label for U.S.-sourced items affected by the counter-tariffs, warning prices may rise penny-for-penny. Markets & Politics: U.S. stocks edged higher despite the tariff shock, while U.S. political fallout grows as lawmakers warn the fight could raise costs for their constituents. Canada’s Broader Message: The dispute is also spilling into culture and identity rhetoric, with Carney framing parts of the breakdown around French language and Quebec culture.