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Ottawa's Parliament Hill, where the Carney government is rolling out Canada's largest fiscal stimulus package since 1980. / Photo: Unsplash. MoneySavings.ca  ·  Economy & Policy Monday, April 13, 2026  ·  Daily Edition Canada at a crossroads: oil shock, frozen rates, and a trade deal on the clock Canada's economy is navigating a uniquely complicated moment in 2026. A Middle East conflict has sent oil prices surging past US$104 a barrel, a once-in-a-generation fiscal stimulus package is being rolled out in Ottawa, and the clock is ticking on a renegotiation of Canada's most important trade agreement. For everyday Canadians, this means uncertainty at the gas pump, a central bank with limited room to cut rates, and a federal government betting big on public spending to kick-start growth. Here is what you need to know about the forces shaping the Canadian economy right now. 1. The Bank of Canada is stuck — and oil is why The Bank of Canada has held it...
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U.S.–Colombia Relations Plunge as Trump Announces Tariff Hike

                                   Trump called Colombian President Gustavo Petro an 'illegal drug leader'

Tensions between Washington and Bogotá have intensified after President Donald Trump announced new tariffs on Colombian exports, escalating a feud over drug trafficking. Speaking on Sunday, Trump accused Colombian President Gustavo Petro of being an “illegal drug leader” and declared that all U.S. payments to the South American nation would be halted.

The announcement followed U.S. military strikes on vessels allegedly transporting narcotics in the Caribbean, which Colombian officials condemned as violations of sovereignty. Petro’s government strongly rejected Trump’s accusations, calling them “false and offensive,” while warning that the measures could severely damage bilateral relations.

Defense Secretary Pete Hegseth confirmed that U.S. forces had destroyed a boat linked to Colombian rebel groups, further fueling the dispute. Analysts warn that the breakdown in cooperation could undermine regional security and complicate joint efforts to combat drug trafficking.

With tariffs looming and aid suspended, the decades-long partnership between the two countries faces one of its most serious crises in recent history.

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