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Carney’s First Budget Signals a Generational Reset for Canada’s Finances

Prime Minister Mark Carney jokes with Minister of Finance and National Revenue Francois-Philippe Champagne as they greet families before participating in an announcement at a community centre in Ottawa, on Friday, Oct. 10, 2025. Prime Minister Mark Carney’s inaugural budget is being framed as a turning point in Canada’s fiscal direction, marking a sharp departure from the spending patterns of recent years . Presented alongside Finance Minister François-Philippe Champagne, the budget is not just a financial document but a statement of intent: to reshape the country’s economic priorities in the face of global uncertainty and domestic pressures. At the heart of the plan is a shift away from expansive spending toward what Carney has described as “tough choices” and “sacrifices.” The government has emphasized that Canada must “spend less to invest more” , signaling a reallocation of resources rather than an outright expansion of the deficit. This approach reflects Carney’s long-standing...

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Trump Declares 100% Tariff on Foreign-Made Films, Sparking Industry Uncertainty

 

                                           The Hollywood sign is seen in Hollywood.


U.S. President Donald Trump announced that his administration will impose a 100% tariff on all movies produced outside the United States, a move that has sent shockwaves through Hollywood and the global film industry.

Posting on his Truth Social account, Trump argued that America’s film business has been “stolen” by foreign countries offering lucrative tax incentives to lure productions abroad. He singled out California as being “particularly hard hit,” despite the state’s own incentive programs aimed at keeping productions local.

Industry experts warn that such a tariff could be nearly impossible to enforce, given the complex, international nature of modern filmmaking. Many U.S. blockbusters are partially shot overseas, raising questions about whether they would also be subject to the levy.

Critics say the policy could backfire, driving up costs for American studios and potentially triggering retaliatory tariffs from other countries. With international markets accounting for more than 70% of Hollywood’s box office revenue, the measure could disrupt a business model that heavily relies on global audiences.

While Trump has not specified when or how the tariffs would take effect, the announcement underscores his broader protectionist trade agenda. For now, the film industry is bracing for what could be one of the most disruptive policies in its history.


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