Skip to main content

Featured

5 Things to Know Today: U.S. Alcohol Ban, GDP Day, 5.25% Yields (Sept 29)

  Tuesday September 29, 2026 A U.S. import ban on Canadian booze kicks in, Statistics Canada reports July GDP, and U.S. bond yields sit at levels not seen since 2007. Here are the five things that matter for your wallet today. 1 The U.S. ban on Canadian alcohol takes effect today As of 12:01 a.m. ET, the U.S. is refusing entry to many Canadian beer, wine, cider and spirits shipments, along with whey products, molasses and larger motorcycles. The measures were signed Sept. 8 and largely replace the 50% tariffs that applied to these goods. Bottles already in the U.S. can still be sold, and product shipped in bulk to be bottled south of the border appears to fall outside the ban. Canadian producers say pivoting to domestic sales won't be easy, because a patchwork of provincial rules complicates selling across borders. What it means for you: The ban hits exports, not what you pay at the store. The exposure is for people who work in or own shares of brewers, distillers and wineries, a...
Post a Comment
Read more

article

Labels

Trump's Tariff Man: What Howard Lutnick's Appointment Means for Canada

 

President-elect Donald Trump has appointed Howard Lutnick, a Wall Street heavyweight and co-leader of Trump's transition team, as his Secretary of Commerce and the point man for his tariff and trade agenda. Lutnick's appointment signals a significant shift in U.S. trade policy, with potential major implications for Canada.

Lutnick has publicly shared his views on tariffs, emphasizing that they will not be applied indiscriminately. Instead, he envisions tariffs serving two main purposes: influencing specific industries and acting as a negotiating tool to lower trade barriers with other countries. This approach aims to create a more level playing field for American businesses, particularly in the automotive sector, where Lutnick has highlighted the need for fairer competition with European and Japanese manufacturers.

For Canada, the impact of Trump's tariff plan could be substantial. Estimates suggest that the tariffs could cost Canada's economy anywhere from a half-per cent to five per cent of GDP, depending on their design and implementation. The energy sector, a major Canadian export to the U.S., might see less impact, but the automotive industry could face significant challenges.

As Lutnick takes on his new role, Canadian officials and businesses will be closely monitoring the developments to understand how these changes will affect cross-border trade and the broader economic relationship between the two countries.

Labels:

Comments

Post a Comment