Global Scans · Canada · Weekly Summary

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WHAT'S NEXT?: The U.S. and Canada's new governments will have their work cut out dealing with potential changes to their trade agreements while simultaneously Canada will be anxious to implement CETA with the EU.

• [New] Canada gained 54,000 jobs in November, while economists had predicted the loss of 2,500 positions. financialpost
• [New] More Arctic air is building over northern Canada and will be directed into the United States, courtesy of the polar vortex, throughout mid-December. Yahoo News
• [New] Meaningful progress in trade negotiations with Canada and Mexico could provide quick relief to markets and lead to a risk-on environment. Northern Trust
• [New] Mexico and Canada have been searching for tariff off-ramps while making the case for duty-free continental trade as Trump threatens to pull the U.S. out of CUSMA. CBC
• [New] The Canadian economy has held up better than expected under the trade shock from U.S. tariffs. BNN Bloomberg
• [New] Canada will reduce temporary resident numbers but offer structured routes for workers to transition to permanent residency. Mondaq
• [New] What to Expect Canadian Stocks If the BoC cuts again or signals openness to further easing, equities - especially rate-sensitive sectors such as financials, real estate, and consumer discretionary - may benefit from lower borrowing costs and improved credit conditions. FinancialJuice
• [New] TRACCS warns that Canada's major rail projects are being delivered years behind schedule, adding billions more to their overall project budget. Yahoo Finance Singapore
• [New] Royal Bank of Canada says its investment in AI is paying off and is set to generate C$ 1 billion in enterprise value in 2027. FinExtra
• [New] The Trump administration is signaling that it could withdraw entirely and renegotiate large parts of an existing trade accord with Canada and Mexico in 2026, underscoring its volatile approach even among trusted trade partners. Yahoo Finance
• [New] A 200-megawatt, $1 billion facility built by Canadian company Hydrostor near the historic mining city will be Australia's first large-scale compressed air energy storage facility, capable of powering up to 80,000 homes for a day. Australian Broadcasting Corporation
• [New] The Canada Revenue Agency will be increasing its usage of AI to detect noncompliance situations. Cardinal Point Wealth Management
• [New] Statistics Canada will release 2025/26 production this morning, with traders looking for canola output estimated at 21.25 MMT. Barchart.com
• [New] Alongside the wage increase, updated labour protections are expected to strengthen worker rights across Canada. Andale Food Truck
• [New] The Canadian government will tighten the tariff rate quota level for steel product imports to 20% of 2024 levels for countries with which Canada does not have a trade agreement. National Law Review
• [New] The OECD anticipates 1.9% growth in the U.S. in 2027, and 1.7% in Canada - on par with the forecast for Mexico. Mexico News Daily
• [New] A swift and successful renegotiation of the USCMCA trade pact between Mexico, the United States and Canada in 2026 could help to reduce uncertainty and thus support investment and exports more strongly than currently anticipated. Mexico News Daily
• [New] By embracing the potential of Arctic trade routes, Canada is proving that even the most challenging terrains can open doors to global opportunity. The Cooperative blog
• [New] If done right, the Northern Corridors initiative could transform Canada's Arctic into a modern shipping hub, one that connects continents while respecting the fragile environment it operates within. The Cooperative blog
• [New] New Arctic trade routes might turn the Canadian North into a crucial link between global supply chains, connecting continents through the Arctic Circle trade routes that were once frozen out of economic reach. The Cooperative blog
• [New] The Canada Arctic trade routes promise to reduce congestion in the Panama and Suez Canals, offering an alternative that could redefine global maritime logistics. The Cooperative blog
• [New] Canada will soon be removing tariffs on goods from the United States that are covered under the Canada-U.S.-Mexico Agreement. sarnianewstoday.ca

Last updated: 10 December 2025