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Canada's Economy Is Slowing: 5 Money Moves to Make Before Year-End

  Canadian Money Brief | October 22, 2026 Canada's economic outlook has weakened, and that is a good reason to take a fresh look at your finances before the end of the year. The Parliamentary Budget Officer's October outlook projects real GDP growth of just 0.9% in 2026, down from its earlier forecast of 1.1%. The report points to changing trade conditions and U.S. tariffs as key pressures. This does not mean a recession is guaranteed. But when the economy faces uncertainty, a few practical steps can help households stay prepared and avoid unnecessary costs. 1. Review your monthly budget Check your last two or three months of bank and credit-card statements. Look for subscriptions you no longer use, recurring fees, food waste, and purchases that can be delayed. Even small cuts can free up cash for savings or debt repayment. Try this: Choose one spending category to reduce this month and move the money you save into a separate savings account. 2. Build or top up your emergency ...
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Trump Extends Tariff Deadline, Escalates Pressure on Global Trade Partners

In a dramatic turn in U.S. trade policy, President Donald Trump has extended the deadline for new tariffs on seven countries to August 1, while simultaneously threatening steep new duties of up to 40% on imports from nations that fail to reach trade agreements with the United States.

The move comes as part of Trump’s broader push to enforce what he calls “reciprocal tariffs,” aimed at correcting long-standing trade imbalances. Letters sent Monday to leaders in Japan, South Korea, South Africa, Malaysia, and others outlined tariffs ranging from 25% to 40%, with additional penalties for goods deemed to be transshipped through those countries to evade duties.

Trump also issued a stark warning to countries aligning with the BRICS bloc—which includes Brazil, Russia, India, China, and South Africa—stating they would face an **extra 10% tariff** for adopting what he labeled “anti-American” policies.

Despite the aggressive rhetoric, the White House confirmed that the implementation of these tariffs would be delayed until August 1, giving trade partners a final window to negotiate exemptions or new deals. Treasury Secretary Scott Bessent emphasized that while the administration is open to agreements, the president is prioritizing the “quality” of deals over the “quantity”.

Markets reacted nervously to the announcement, with the S&P 500 dipping as investors braced for renewed trade volatility. Meanwhile, countries like Canada, the UK, and the EU remain in active negotiations, hoping to avoid the brunt of the tariffs.

This latest salvo underscores Trump’s unpredictable trade strategy—one that mixes hard deadlines with last-minute reprieves, keeping both allies and markets on edge.

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