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Trump's Tariff Shake-Up: Global Trade Faces New Challenges

On April 2, 2025, U.S. President Donald Trump announced sweeping 10% tariffs on imports from all trading partners, marking a significant escalation in global trade tensions. These tariffs, described as "baseline," aim to address what Trump perceives as unfair trade practices and chronic trade deficits. While the announcement has sent ripples across international markets, the specific impact on Canada remains uncertain. Canada, a close trading partner of the U.S., has previously faced tariffs on steel, aluminum, and energy imports under Trump's administration. The new measures could further strain bilateral relations and affect key Canadian industries. Prime Minister Mark Carney is reportedly preparing Canada's response, as the trade war becomes a central issue in the upcoming federal election. Trump's move has sparked debates among economists and policymakers, with critics warning of potential economic fallout and supporters praising the tariffs as a step toward ...
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CRA Ramps Up Legal Action to Recover COVID Benefit Overpayments

 

The Canada Revenue Agency (CRA) is intensifying its efforts to reclaim overpayments related to pandemic benefits. With more than $9 billion still owed, the agency is taking decisive steps to recoup funds from ineligible recipients.

Starting this July, the CRA will issue legal warnings and employ various means to recover overpayments. These actions may include garnishing wages or withdrawing funds directly from bank accounts. However, the agency emphasizes that it will only pursue legal action against individuals who haven’t responded or cooperated and have the financial capacity to repay.

“Our primary goal is to encourage individuals to contact us so we can work together to find the best way to resolve their debt, ensuring a fair and manageable process for everyone,” says CRA spokeswoman Sylvie Branch.

The CRA remains committed to supporting Canadians who genuinely cannot repay their debt. If you’re facing financial challenges, reach out to the agency to explore repayment options.

Overpayment Breakdown

The CRA is currently seeking approximately $9.53 billion in repayments from ineligible recipients. Here’s the breakdown:

  • Canada Emergency Response Benefit (CERB): $5.41 billion
  • Canada Recovery Benefit (CRB): $2.67 billion
  • Canada Recovery Caregiving Benefit: $1.25 billion

Efforts to recover overpayments began in May 2022, with letters encouraging voluntary payments. Last year, the CRA escalated its collection efforts, including phone outreach and automatic offsetting of tax refunds and benefits against outstanding debts.

While recipients can request reviews of eligibility conclusions, the CRA’s information typically leaves little room for debate. Most issues are clear-cut.

Remember, if you’ve received pandemic-related benefits and suspect an overpayment, it’s essential to engage with the CRA promptly to find a resolution.



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