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U.S. Threatens Harsher Economic Pressure on Iran as Mediators Rush to Secure Second Ceasefire Talks

  A woman walks past a digital screen displaying news of US-Iran peace talks along a road in Islamabad on April 10, 2026 The United States has warned it will step up economic pressure on Iran while mediators race to arrange a second round of ceasefire talks before the fragile truce expires on April 22, 2026 — a standoff that risks higher oil prices, tighter global markets, and direct costs for Canadian households and investors.   Background and diplomatic timeline A two‑week ceasefire that paused nearly seven weeks of fighting was brokered to create a narrow diplomatic window for talks between Washington and Tehran. The first round of face‑to‑face negotiations in Islamabad lasted more than 20 hours but ended without an agreement, leaving the truce set to expire on April 22, 2026 unless mediators secure a follow‑up session.  Mediators led by Pakistan, with active roles from Turkey, Egypt and other regional actors, have been shuttling between capitals to bridge the remaini...
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Canada to Unveil Budget Amid Fiscal Doubts

 

Canadian Finance Minister Chrystia Freeland is set to present the budget on Tuesday, but experts remain skeptical about the government’s fiscal targets. The recent surge in spending plans, particularly in housing, defense, and healthcare, has raised concerns about weakening government finances.

In last year’s Fall Economic Statement (FES), the government aimed to cap the fiscal 2023-24 budget deficit at C$40.1 billion ($29.12 billion), equivalent to about 1.4% of GDP. However, economists estimate that the deficit for the fiscal year ending March 31 could be around C$47 billion, primarily driven by government expenses.

Freeland acknowledges the need for investment in Canada’s current housing affordability crisis, exacerbated by a lack of supply and increased migration. The opposition Conservative Party has criticized the Liberal government for this situation, impacting Prime Minister Justin Trudeau’s popularity.

The upcoming budget, scheduled for presentation to parliament on Tuesday at 4:00 p.m. EDT (2000 GMT), will likely force the government to consider new taxes. However, raising taxes in an inflationary environment could hinder business investments necessary for improving Canada’s productivity.

Despite these challenges, Canada’s sovereign debt remains highly rated globally, providing some stability amidst fiscal uncertainties.

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