AGP Executive Report

Canada-U.S. Trade War: Trade watchers warn Canada should brace for “pain” as negotiations stay stalled and U.S. countertariffs are set to hit Tuesday, with an American response almost inevitable. Currency & Politics: Donald Trump again called Canada’s dollar “unacceptable” amid the tariff fight, while Mark Carney said Ottawa is ready to strike a deal if Washington is. Jobs & Costs: New labour data coverage points to job losses in August as public-sector cuts deepen, adding pressure to already stressed household budgets. Data Centres & Local Power: Ottawa’s new framework for responsible data-centre development is meeting community pushback, with Alberta activists arguing residents can still stop hyperscale projects. Payments & Fintech: Dext named Nicole Bello as Chief Revenue Officer as it expands payments in Canada; PayTic also pushed into Saudi Arabia with AI-powered payment operations. Corporate Finance: Teva announced plans to issue senior notes to fund redemptions and general corporate needs. Security & Fraud: Ukraine dismantled a crypto “drainer” ring accused of stealing up to $1M a month across 20+ countries.

Canada-U.S. Trade Tensions: President Donald Trump again called the Canadian dollar “unacceptable” and said the “imbalance” will no longer continue, as Ottawa prepares retaliatory countertariffs tied to the latest tariff escalation. Countertariffs Impact: Canada’s next round of duties is set to hit about $28B of U.S. goods, with knock-on pressure expected for cross-border freight and key U.S. swing-state industries. Tourism Fallout: U.S. tourism groups are trying to win Canadians back, but the trade war and political friction are making the pitch feel “a wasted effort,” with Labor Day expected to bring fewer visitors. B.C. Reservists: British Columbia aligned reservists’ job-protected training leave with national standards, expanding peace-of-mind for those balancing civilian work and service. Cost-of-Living Stress: A TELUS Health report finds rising living costs are the top financial stressor for Canadian workers, with anxiety spilling into productivity. Identity Theft Probe: The FBI opened an investigation after a dark-web service allegedly sold scans of 153M stolen U.S. and Canadian driver’s licences. Local Community: Greater Victoria’s Thanksgiving food drive returns Sept. 19, with door-to-door collection and partner grocery drop-offs.

Canada–U.S. trade war: A new Nanos/CTV poll finds 80% of Canadians back Ottawa’s dollar-for-dollar counter-tariffs and 85% support walking away from a U.S. deal, with 74% saying the U.S. isn’t a trustworthy ally—sentiment tied closely to Trump’s tariff push. Markets & rates: Investors are weighing Fed uncertainty after Christopher Waller signalled possible rate stability in September, while U.S. job growth and services activity keep the macro picture mixed. Business impact at home: A federal $11.6M package backs 10 Saskatoon-area projects to help firms absorb tariff-driven costs via automation, equipment and new markets. Infrastructure debate: An opinion piece argues Canada’s infrastructure costs are 2–5x higher than peers, scaring off private capital and dragging down returns. Consumer & retail: Toronto retailers say tariffs are boosting demand for Canadian-made goods, while Unifor welcomed CRTC steps to improve discoverability of Canadian content on streaming platforms. Public safety: Storm-related outages in Huron and Perth prompted reminders on food and water safety for households and businesses.

Canada-U.S. Tariffs: Ottawa and Washington remain locked in a tariff fight, with Trump suspending some 50% duties after claiming a “deal” while other measures still loom—keeping costs and uncertainty high for Canadian exporters and small businesses. Trade Policy & Business Support: The federal government announced $11.6M for 10 Saskatoon-area projects to help firms respond to U.S. tariffs, including automation and production upgrades at Drake Meat Processors and Doepker Industries. Antitrust Tensions: The U.S. DOJ antitrust division reportedly ordered a pause in cooperation with Canada, but the department says it was a misunderstanding tied to rescheduling, not a full freeze. Agriculture Pressure: Canadian farmers and agri-food players are bracing for tariff fallout, with uncertainty flagged as the biggest geopolitical issue; dairy and other supply-managed sectors remain especially sensitive. Immigration & Labour: IRCC issued 3,500 Express Entry invitations for healthcare and social services with a 475 CRS cutoff, while a C.D. Howe Institute council urged more predictable immigration targets for 2027–2029. Aviation & Expansion: Air Canada is adding new nonstop routes and frequencies, including a new Toronto–London Heathrow “daytripper” service starting June 2027. Housing Finance: CMHC reported higher Q2 net income ($465M) as mortgage-backed securities activity stayed strong. Health Care: The Canadian Medical Association urged Ottawa to challenge Alberta’s health-care rules it says could expand private clinics and weaken the public system. Tech & Courts: OpenAI faces new lawsuits in Canada tied to a mass shooting, alleging the company knew about concerning chats and failed to act.

Canada-U.S. Tariff Countdown: Ottawa says retaliatory duties on more than $27.6B of U.S. imports are set to start Tuesday, with rates from 15% to 50% across sectors like autos inputs, steel and aluminum—while Washington signals no near-term talks. Sovereignty Flashpoint: The trade fight is spilling into identity politics, with Trump pushing “Lake America” and Carney firing back to “stop doing memes” and “start being serious.” Labour Market Jolt: StatsCan reports Canada shed about 42,000 jobs in August; unemployment stayed at 6.4%, adding to uncertainty for export-linked industries. Business Impact on the Ground: Canadian honey producers warn U.S. tariffs could flood the domestic market and pressure prices; Manitoba brewers question province-led trade missions as liquor-markup barriers persist. Markets & Finance: Canadian bonds look “well-behaved” despite global yield spikes; stocks slid after labour data. Crypto Watch: Zcash surged past $1,000 as a spot ETF and regulatory clarity boosted privacy-coin momentum. Travel Demand Shift: Skyscanner data points to a 78% jump in Canadian flight searches to Palma in September, tied partly to U.S. travel boycotts.

Canada-U.S. Trade Tensions: Loblaw says it’s reinstating a “T” label for tariff-affected U.S.-sourced products and will keep pushing more Canadian sourcing to limit shelf-price pressure. Rates & Mortgages: Farm Credit Canada warns higher U.S. bond yields tied to inflation and debt risk could lift long-term borrowing costs in Canada, with knock-on effects for fixed mortgage rates and business financing. Labour Market Watch: Statistics Canada reports Canada lost about 41,700 jobs in August and the unemployment rate held at 6.4%, with analysts pointing to trade-exposed sectors as a key risk as counter-tariffs near. Tariffs Hit Consumers: Ottawa extended the federal fuel-tax suspension to Jan. 31, 2027 to soften pump costs, but counter-tariffs due Sept. 8 are expected to add upward pressure to grocery bills. Regional Business Support: Ottawa announced $11.6M for eight Saskatoon firms to help them respond to tariffs, improve productivity, and diversify markets. Market Pulse: Gold rebounded after a sharp selloff tied to a stronger-than-expected U.S. jobs report, as investors brace for next week’s inflation data. Rail Manufacturing Boost: Carney unveiled a $4.7B VIA Rail passenger-car deal, with work split between Alstom facilities in Thunder Bay and La Pocatière. Corporate Moves: Mulvihill ETFs declared monthly distributions, while Star Bulk advanced with an Euronext Athens parallel listing and equity offering plans.

Banking & Currency: The Bank of Canada unveiled the final design of the new vertical $20 bill featuring King Charles III, with circulation planned for late February 2027 and added security features. Trade War Watch: A new poll finds most Canadians back walking away from U.S. talks and imposing retaliatory tariffs, but economist Trevor Tombe warns the hit to consumers could total about $4 billion, especially for lower-income households. Trade Data: Canada’s merchandise trade surplus narrowed to $769 million in July as exports fell 2.3%—a sign the tariff shock is starting to show. Jobs & Economy: Statistics Canada is set to release the August labour force survey; economists expect 15,000 jobs added and unemployment steady at 6.4%. Health Labour Market: Desjardins says hiring in Alberta and Ontario’s health systems has been propping up national job growth, raising questions about whether the broader economy is keeping pace. Immigration & Mobility: India has resumed accepting employment visa applications from Canadians in Canada, but only via a pre-approval process with in-person submission and mandatory biometrics. Business & Compliance: A Vancouver police officer and youth charity founder, Kalwinder “Kal” Dosanjh, was charged with fraud, theft and breach of trust after an undercover investigation.

Canada-U.S. Tariff Shock to Small Business: A CFIB survey says 18% of small exporters and 11% of importers hit by the trade war fear they’d stop being financially viable if it drags on for three months, with many firms demanding tariff revenue be used to protect the hardest-hit operators. Rail Manufacturing Push: Prime Minister Mark Carney announced a $4.7B VIA Rail investment to bring passenger car building back to Canada, with Alstom set to manufacture 313 cars in Thunder Bay and La Pocatière—framed as a major “Buy Canadian” win for jobs and supply chains. More Tariff Support for Firms: Minister Rechie Valdez outlined a $7.5B package of new and enhanced measures for workers and businesses affected by U.S. tariffs, including liquidity help via regional development agencies. Infrastructure for Clean Power: Canada broke ground on the North Coast Transmission Line in B.C., targeting cleaner electricity, major job creation, and emissions cuts. Currency Update: The Bank of Canada unveiled the final design for the new $20 bill featuring King Charles, with added security features. Market/Policy Watch: CIRO scheduled a settlement hearing for Arthur Silber, while CIRO also issued a trading halt for Maximus Metals (MM) pending news. Trade War Reality Check: Fact Focus debunked Trump’s claim that U.S. banks can’t operate in Canada, noting 15 U.S.-based banks already operate there.

Canada-U.S. Trade War: Prime Minister Mark Carney says U.S. negotiators sought terms that would have left core Canadian industries “subsidiaries” or “wound down,” prompting Canada to suspend talks and prepare retaliatory tariffs starting Sept. 8. Manufacturing & Jobs: Carney is set to announce a “historic investment” in Canadian manufacturing in Thunder Bay as unions and industry warn against rushing back to a deal that isn’t sustainable. Living Standards Gap: A Fraser Institute study says Canada’s per-person GDP gap with the U.S. has more than doubled since 2014, reaching over $23,000. Tariff Spillovers: A Canadian paper cup and bowl maker says demand is rising as foodservice firms switch to Canadian-made takeout packaging amid tariffs. Energy & Power: Algoma Steel says it’s sustaining steel production under interim power arrangements while working to restore full capacity at its Lake Superior Power facility. Central Bank Resilience: The Dutch central bank moved 86 tonnes of gold from the U.S. and Canada to London, citing “increasing geopolitical unrest” and faster crisis deployability. Policy Watch: Canada published guidance on foreign worker categories exempt from work permits, but entry still depends on meeting specific conditions.

Trade & Tariffs: The Bank of Canada held its policy rate at 2.25% for a seventh straight decision, warning that renewed U.S. tariffs and Middle East-driven oil risks are pushing inflation uncertainty higher. Canada is preparing retaliatory tariffs starting Sept. 8, with targeted pressure expected on sectors like autos and agriculture. Fuel Affordability: Finance Minister François-Philippe Champagne extended the federal fuel excise tax pause to Jan. 31, 2027 (with a partial return later in 2027), a move welcomed by consumers but criticized by the Canadian Energy Marketers Association for adding costs through the supply chain. Markets & Currency: The Canadian dollar rebounded from a near three-week low as investors refocused on inflation risks even as the BoC stayed on hold. Business Moves: Sonoro Gold promoted senior leaders in exploration and Mexico; KPMG Canada earned ISO 42001 AI governance certification; Kempower signed a framework deal with DP World to roll out EV charging across Canadian ports. Consumer & Finance Sentiment: A B.C. survey found 80% want financial institutions to advocate for consumers’ financial well-being amid cost-of-living stress. Crypto & Investing: Coinbase launched regulated crypto derivative contracts for eligible Canadians, adding Bitcoin/Ether/Solana perpetuals and dated futures plus other commodity and index products.

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.