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Canadian Insolvencies Hit a 16-Year High — What the New Data Means for You

  More than 37,000 Canadians filed for insolvency in just three months — the highest quarterly total since the 2009 financial crisis. New data paints a sobering picture of where household finances stand heading into summer 2026. Fresh data from the Office of the Superintendent of Bankruptcy (OSB) and a new Equifax Canada report released this week confirm what many Canadians have been feeling: the financial pressure is real, it is growing, and it is reaching households that once seemed insulated from serious debt trouble. 📊 Q1 2026 — Key Numbers at a Glance 37,121 Consumer insolvencies filed in Q1 2026 +8.5% Year-over-year increase 17/hr Canadians filing every single hour $2.66T Total Canadian consumer debt The Highest Volume Since the 2009 Financial Crisis The Canadian Association of Insolvency and Restructuring Professionals (CAIRP) confirmed that Q1 2026's tally of 37,121 consumer insolvency filings is the largest quarterly figure since 2009 — the year North America was still re...
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Trump Vows New Tariffs on Canada, Mexico, and China, Threatening Global Trade

 

U.S. President-elect Donald Trump announced on Monday that he will impose new tariffs on products from Canada, Mexico, and China as part of his strategy to address illegal immigration and drug trafficking, particularly fentanyl. Trump stated that he will sign an executive order on his first day in office to implement a 25% tariff on all products entering the United States from Canada and Mexico, and an additional 10% tariff on goods from China.

Trump's announcement has sparked concerns among economists and trade experts, who warn that such measures could lead to higher prices for American consumers and potential retaliatory actions from the affected countries. The tariffs are expected to impact a wide range of products, including automobiles, electronics, and agricultural goods.

Canadian and Mexican officials have yet to respond to Trump's announcement, but the move is likely to strain trade relations between the three countries. The tariffs could also complicate the implementation of the United States-Mexico-Canada Agreement (USMCA), which was designed to facilitate trade and economic cooperation in North America.

As the January 20th inauguration date approaches, businesses and consumers are bracing for the potential economic fallout from these tariffs.


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