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5 Things to Know Today: The Money News Shaping Your Week

5 Things to Know Today: The Money News Shaping Your Week 1. Canada’s Economy Grew Faster Than Expected Canada’s economy expanded at an annualized 2.6% in Q4, driven by stronger household spending, exports, and business investment. 2. Manitoba Fast‑Tracks Major Infrastructure Projects A new federal‑provincial agreement introduces a “one project, one review” system to accelerate ports, highways, and energy corridors. 3. Job Market Shows a Small but Positive Uptick Canada added 14,000 jobs in March, with wages rising 4.7% — a key factor ahead of the Bank of Canada’s April 29 rate decision. 4. Oil Markets Remain Volatile After Hormuz Reopening Iran has reopened the Strait of Hormuz, but analysts warn global oil markets may take time to stabilize. 5. Canadians Face Rising Affordability Pressures More Canadians are turning to budgeting tools as inflation, energy costs, and housing pressures persist.

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Trump’s Trade Twist: New Reciprocal Tariffs Aim to Level the Global Playing Field

President Donald Trump has signed a memorandum outlining a plan to impose reciprocal tariffs on all nations that levy duties on U.S. imports. The new policy is designed to “charge them exactly what they charge us” in an effort to create a fairer trading environment for American industries and workers.

Under this initiative, U.S. trade officials will study tariff and non-tariff barriers country by country before recommending specific rates. The implementation of these tariffs is expected to roll out gradually over the coming weeks or months, rather than taking effect immediately. Trump defended the move as a necessary step to end what he calls an “unfair system” that has long disadvantaged the United States in global trade battles.

Critics, however, warn that the new measures could increase costs for consumers and disrupt supply chains, potentially adding to inflationary pressures. Some analysts believe that by encouraging other countries to lower their own duties in a reciprocal fashion, the overall impact on global trade might be less severe than expected. Regardless, this latest action marks another bold escalation in Trump’s long-running trade war strategy, with key partners such as Canada, Mexico, and China poised to feel its effects.


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