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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 Warns of 10% Tariff Hike on BRICS-Aligned Nations Amid Brazil Summit

As BRICS leaders convened in Rio de Janeiro for their annual summit, U.S. President Donald Trump issued a stark warning: any country aligning with what he called the bloc’s “Anti-American policies” would face an additional 10% tariff on exports to the United States.

The announcement, made via Trump’s Truth Social account, came just hours after BRICS leaders released a joint statement criticizing rising protectionism and unilateral tariffs, which they argued threaten global trade stability. Trump’s post did not clarify which specific policies he deemed anti-American, but emphasized that “there will be no exceptions” to the new tariff rule.

The BRICS bloc—originally comprising Brazil, Russia, India, China, and South Africa—has expanded in recent years to include countries like Egypt, Iran, and the UAE. With over half the world’s population and 40% of global economic output, the group is increasingly positioning itself as a counterweight to Western-led institutions.

Brazilian President Luiz Inácio Lula da Silva, hosting the summit, likened BRICS to the Cold War-era Non-Aligned Movement, calling for greater autonomy and multilateralism in global governance. Meanwhile, Trump’s administration is racing to finalize trade deals ahead of a July 9 deadline, after which retaliatory tariffs are expected to take effect.

The move signals a renewed escalation in global trade tensions, with Trump doubling down on his “America First” stance as the BRICS bloc gains diplomatic momentum.

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