In The News

Confusion over 'iPod tax' deepens

February 7, 2014

It's still unclear whether Canadians will have to absorb a five per cent tariff when they purchase an MP3 player in 2015, even though many people don't even use the music devices anymore.

In its 2013 budget, the government removed a tariff-free category on many goods manufactured in about 70 countries, including China where most MP3 players are made.

Loonie continues slide below 92 cents US

January 24, 2014

The Canadian dollar continued to drop on Thursday, sinking below 92 cents US before recovering in early trading.

The currency is at lowest level since the fall of 2009, hammered by strong economic news in the U.S. and lower oil prices, as a widening Canadian trade deficit. At midday it was trading at 92.14...

Sky-high Chinese tariffs block Canadian access to market

January 18, 2014

Canada’s trade deficit with China is widening amid a slowing of raw materials exports to China, while Canadians continue to import $50 billion a year of Chinese products.

According to Industry Canada, the 2012 trade deficit with China was $31.7 billion in 2012, four times the deficit a decade ago.

Free trade transformed Canada’s economy

January 15, 2014

Jan. 1, 2014, marks the 25th anniversary of the entry into force of the Canada-U.S. free-trade agreement (FTA), followed exactly five years later by that of the North American free-trade agreement (NAFTA). Together these events profoundly transformed Canada’s economy.

Business Barometer: Small business optimism takes a dip as year ends

January 15, 2014

After a period of relative smoothness through the summer and fall, small business optimism dropped off substantially in December. CFIB's Business Barometer® Index fell more than three and half points to land at 62.3, its lowest level since June.