Start Date: 2025-02-01
End Date: 2025-02-07

Top Headlines

Main Stories

Canada Imposes $155 Billion Tariff Package in Response to U.S. Tariffs

On February 1, 2025, Canada's Ministers of Finance and Foreign Affairs announced a 25% tariff on $155 billion worth of U.S. goods, effective February 4, in response to U.S. tariffs on Canadian goods. The initial phase includes tariffs on $30 billion of U.S. imports, such as orange juice and appliances, with plans for additional tariffs on $125 billion worth of goods, including vehicles and aerospace products. The Canadian government aims to protect domestic interests and has opened a public comment period for these measures.

Sources: Announcements: www.canada.ca

U.S. Pauses Tariffs on Canadian Goods for 30 Days

President Trump issued an Executive Order on February 3, 2025, pausing the implementation of additional tariffs on Canadian goods until March 4, 2025. The decision follows Canada's cooperative steps to address drug trafficking and illegal migration. If Canada fails to take adequate action, the tariffs, initially set at 25% for general goods and 10% for energy products, will be implemented immediately.

Sources: White House Announcements: www.whitehouse.gov

Minister of Energy and Natural Resources Wraps Up Washington Visit

Minister Jonathan Wilkinson concluded a visit to Washington, D.C., where he promoted a U.S.-Canada energy and minerals alliance to prevent tariff threats. Meetings with U.S. lawmakers and industry leaders focused on collaboration to secure supply chains and provide affordable energy, countering potential tariff impacts on the sector. The discussions aimed at enhancing North America's position as a leading energy supplier.

Sources: Announcements: www.canada.ca

Canada's Merchandise Trade Surplus in December 2024

In December 2024, Canada's merchandise exports rose by 4.9%, while imports increased by 2.3%. This shift led to a trade surplus of $708 million, transitioning from a deficit of $986 million in November. The data highlights Canada's improved trade balance amid ongoing tariff discussions with the U.S.

Sources: Open Government Data Set: www.statcan.gc.ca

Canada's International Trade in Services Deficit Narrows

Canada's trade in services deficit decreased to $0.1 billion in December 2024, as imports of services fell by 1.2% and exports increased by 0.8%. This development reflects Canada's strategic adjustments in service trade amid international trade tensions.

Sources: Open Government Data Set: www.statcan.gc.ca

Important Updates

Secondary Stories

Canada's Response Plan to U.S. Tariffs

Canada unveiled a detailed list of U.S. goods subject to tariffs effective February 4, 2025, as part of its response to U.S. tariffs on Canadian goods.

Sources: Announcements: www.canada.ca

Minister Duguid to Host Roundtable on U.S. Tariffs

Minister Terry Duguid will hold a roundtable with industry leaders to discuss the impacts of U.S. tariffs on Canadian goods and explore resilience strategies.

Sources: Announcements: www.canada.ca

Canadian Energy and Mineral Cooperation Discussed in D.C.

Minister Wilkinson highlighted potential U.S.-Canada energy and minerals cooperation opportunities during his speech at the Atlantic Council in Washington, D.C.

Sources: Announcements: www.canada.ca

U.S. Executive Order on Northern Border Tariffs

President Trump's Executive Order expands a national emergency to include northern border threats, imposing 25% tariffs on Canadian goods, citing drug trafficking concerns.

Sources: U.S. Federal Announcements: www.federalregister.gov

Canadian Tariff Rate Quota for Refined Sugar

A new notice details additional Tariff Rate Quota for Canadian refined sugar exports to the U.S. under the Canada-U.S.-Mexico Agreement.

Sources: Open Government Data Set: open.canada.ca

Provincial Announcements

Alberta's Response to U.S. Tariffs

Premier Danielle Smith criticized U.S. tariffs on Canadian goods and emphasized Alberta's efforts to reverse this policy and strengthen trade relations.

Sources: Provincial Announcement: www.alberta.ca

Alberta Welcomes Tariff Delay

Premier Smith expressed optimism over the U.S. tariff delay, emphasizing Alberta's diplomatic efforts in ongoing trade negotiations.

Sources: Provincial Announcement: www.alberta.ca

Manitoba's Response to U.S. Tariffs

Premier Wab Kinew convened Manitoba's U.S. Trade Council to strategize on mitigating the impact of U.S. tariffs on local industries.

Sources: Provincial Announcement: news.gov.mb.ca

Manitoba Pulls American Products from Shelves

Premier Kinew announced a directive to remove American products from Manitoba Liquor Marts in response to U.S. tariffs.

Sources: Provincial Announcement: news.gov.mb.ca

Saskatchewan Premier Heads to Washington and Mexico

Premier Scott Moe plans visits to Washington, D.C. and Mexico to emphasize the importance of Canada-U.S. trade relations.

Sources: Provincial Announcement: www.saskatchewan.ca

B.C. Premier Responds to U.S. Tariffs

Premier David Eby announced measures to counter U.S. tariffs, including halting purchases of American liquor from certain states.

Sources: Provincial Announcement: news.gov.bc.ca

B.C. Minister on Labour Force Survey Results

Minister Diana Gibson highlighted B.C.'s economic resilience amid U.S. tariff threats and ongoing efforts to strengthen the province's economy.

Sources: Provincial Announcement: news.gov.bc.ca

Alberta's First Ministers' Meeting Response

Premier Smith discussed Alberta's plans to increase resources for tackling fentanyl and border security after meeting with the Prime Minister.

Sources: Provincial Announcement: www.alberta.ca

B.C. Forms Softwood Lumber Advisory Council

B.C. established a council to address the softwood lumber dispute with the U.S., providing strategic recommendations to the Minister of Forests.

Sources: Provincial Announcement: news.gov.bc.ca

Public Officials' Social Media

MP Shuvaloy Majumdar on Trade Surpluses

MP Shuvaloy Majumdar tweeted about various countries having larger trade surpluses with the U.S. than Canada, emphasizing the need for a strong trade relationship.

Sources: Social Media: x.com

MP Francesco Sorbara on U.S. Tariffs

MP Francesco Sorbara expressed concern over U.S. tariffs, urging Canada and the U.S. to face the challenge together.

Sources: Social Media: x.com

MP Sukh Dhaliwal on Canadian Tariffs

MP Sukh Dhaliwal highlighted Canada's 25% tariffs on U.S. goods and encouraged Canadians to support local products.

Sources: Social Media: x.com

MP Justin Trudeau on U.S. Tariffs

Prime Minister Justin Trudeau tweeted about the U.S. imposing tariffs on Canadian goods, affirming Canada's preparedness to respond.

Sources: Social Media: x.com

Senator Patrick Brazeau on Economic War

Senator Patrick Brazeau tweeted concerns over U.S. tariffs, questioning the U.S. President's motives and urging joint solutions for shared issues.

Sources: Social Media: x.com

Senator Tony Loffreda on Canadian Dollar

Senator Tony Loffreda noted the Canadian dollar's drop amid U.S. tariff threats, discussing concerns with economic experts.

Sources: Social Media: x.com

MP Ryan Williams Criticizes Trudeau's Trade Efforts

MP Ryan Williams criticized Prime Minister Trudeau's trade policies, calling for stronger leadership to secure trade deals and market access.

Sources: Social Media: x.com

MP Maninder Sidhu on Canada-U.S. Trade

MP Maninder Sidhu emphasized Canada's role as a top U.S. customer and warned against the impact of unjustified tariffs.

Sources: Social Media: x.com

Senator Charles Adler on Trudeau's Response

Senator Charles Adler shared a video commending Prime Minister Trudeau's response to U.S. tariffs, invoking shared sacrifices between the countries.

Sources: Social Media: x.com

What We're Reading This Week

• Trump and Trudeau reached a deal, but the clock is ticking to ensure it holds: Updates on the temporary pause of tariffs between Canada and the U.S.
• What do Trudeau’s tariffs on the U.S. mean for Canadians?: Examination of the impact of Canadian tariffs on U.S. goods.
• Trump and Trudeau make a deal: Canada-U.S. trade war delayed by ‘at least 30 days’: Details on the agreement to delay tariffs.
• Businesses from B.C. to Atlantic Canada get set for trade war with U.S.: Canadian businesses prepare for potential trade disruptions.
• Canadian leaders call for retaliation, unity in response to Donald Trump’s tariffs on Canadian imports: Canadian political response to U.S. tariff actions.
• Donald Trump has ruptured the Canada-U.S. relationship. To what end? And what comes next?: Analysis of the strained Canada-U.S. relationship amid tariff tensions.