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1 in 4 Canadians Can Only Afford the Minimum Payment on Their Credit Card

  Published August 24, 2026 · Canadian Money Brief A new survey from Equifax Canada puts a hard number on something a lot of us have felt creeping up all year: credit cards are doing more of the heavy lifting in Canadian budgets, and fewer people are paying them off. Of more than 1,500 Canadians surveyed, a quarter said they expect to make only the minimum monthly payment on their credit card, and another 7% think they'll fall behind entirely. That leaves just over half — 56% — who expect to pay their balance in full each month. The survey also found that 40% of respondents are spending more overall than they were a year ago, more than double the 18% who say they're spending less. Nearly 3 in 10 said they're leaning more heavily on credit cards to cover essentials like groceries and utilities, and close to a quarter are dipping into savings to keep up with everyday costs. More than a third have cut back on contributions to savings, investments, or education funds to make ro...
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Trump Proposes 25% Tariffs on Autos, Pharmaceuticals, and Semiconductor Chips

 

In a move that could significantly impact international trade, former President Donald Trump has announced plans to impose 25% tariffs on automobile, pharmaceutical, and semiconductor chip imports. The announcement was made during a press briefing at his Mar-a-Lago estate in Florida, where he outlined his intentions to reshape global trade policies.

Trump stated that the tariffs on auto imports would be "in the neighborhood of 25 percent" and are set to be implemented as early as April 2. This date coincides with the day his cabinet members are expected to deliver reports outlining options for various import duties. The proposed tariffs aim to address what Trump perceives as unfair treatment of U.S. automotive exports in foreign markets.

In addition to automobiles, Trump plans to impose similar tariffs on imported semiconductors and pharmaceutical goods. He mentioned that the government could collect 25% or higher in taxes for these imports, with the rates potentially increasing over the course of a year. Trump emphasized that he wants to give companies in these industries some time to build factories in the U.S. to avoid the new tariffs.

The proposed tariffs have raised concerns among economists and industry experts, who warn that they could lead to higher prices for consumers and increased costs for businesses. The automotive industry, in particular, could see significant price hikes, as nearly half of vehicle sales in the U.S. last year were imported from foreign countries.

Trump's announcement is part of a broader effort to promote "balanced" trade with foreign markets and encourage the reshoring of strategic industries. While the proposed tariffs could have far-reaching effects, Trump believes they will ultimately benefit the U.S. economy in the long run.


: [Yahoo News](https://ca.news.yahoo.com/trump-plans-to-impose-25-percent-tariffs-on-automobile-and-semiconductor-imports-130044480.html)

: [CBC News](https://www.cbc.ca/news/canada/windsor/trump-tariffs-pharma-chips-auto-25-percent-1.7462509)

: [MSN](https://www.msn.com/en-us/money/markets/trump-plans-to-impose-25-tariffs-on-autos-chips-and-pharmaceuticals/ar-AA1zkWCA)

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