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Carney disappointed after Trump hits Canada with 35 per cent tariffs

Carney disappointed after Trump hits Canada with 35 per cent tariffs

WASHINGTON — Prime Minister Mark Carney said Friday his government is disappointed that U.S. President Donald Trump followed through on his threat to increase tariffs on Canada to 35 per cent if Ottawa didn't make a trade deal.
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No trade deal with U.S. better than a bad one: Canadian business groups

No trade deal with U.S. better than a bad one: Canadian business groups

Canadian business groups anxiously watching trade negotiations with the U.S. don't want the country to rush into a deal but say the uncertainty is weighing on their members. After U.S.
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Trump signs executive order pushing tariffs on Canada to 35 per cent

Trump signs executive order pushing tariffs on Canada to 35 per cent

WASHINGTON — U.S. President Donald Trump has signed an executive order pushing tariffs on Canada to 35 per cent beginning on Friday, following through on a threat to raise duties if Ottawa didn't make a trade deal.
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Hudson's Bay gets permission to sell leases, extend creditor protection

Hudson's Bay gets permission to sell leases, extend creditor protection

TORONTO — Hudson’s Bay is set to shave off a sliver of its debt after getting court approval for two lease deals, but is still gearing up for a fight on a third lease agreement later this month.
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Canada’s economy contracts in May even as some sectors rebound from tariffs

Canada’s economy contracts in May even as some sectors rebound from tariffs

OTTAWA — Canada's economy contracted for a second straight month in May even as some sectors held up in the face of U.S. tariffs. Real gross domestic product fell 0.1 per cent in May, Statistics Canada said Thursday, matching the decline in April.
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Bank of Canada holds key rate at 2.75% but opens door to future cuts

Bank of Canada holds key rate at 2.75% but opens door to future cuts

OTTAWA — The Bank of Canada left its policy rate unchanged Wednesday but said future cuts may be warranted as U.S. tariffs continue to cloud the outlook. The central bank’s policy rate remains at 2.75 per cent after a third consecutive hold.
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Free trade carveouts key in potential deal between U.S. and Canada: business groups

Free trade carveouts key in potential deal between U.S. and Canada: business groups

Business leaders and academics say they hope to see Canada and the U.S. maintain free trade protections for most goods once an agreement is reached, even if the negotiations can't stave off certain sectoral tariffs.
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Provincial deficits to narrow in coming years despite trade war: report

Provincial deficits to narrow in coming years despite trade war: report

OTTAWA — Under pressure from the U.S. trade war and a slowing economy, Canada's provinces are all expected to run fiscal deficits this year — but a Conference Board of Canada report predicts those deficits will narrow in the coming years.
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Five things to watch for in the Canadian business world in the coming week

Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world in the coming week: Interest rates The Bank of Canada is set to announce its latest interest rate decision and monetary policy report on Wednesday.
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Bank of Canada widely expected to hold key rate steady amid trade uncertainty

Bank of Canada widely expected to hold key rate steady amid trade uncertainty

OTTAWA — Avery Shenfeld doesn't think the Bank of Canada will cut its benchmark interest rate at its decision on Wednesday, but if it does, he said it will be a "pleasant surprise.
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