Federal party leaders continue campaigning as more Trumptariffs loom
Party leaders are likely to receive questions about Canada-U.S. relations during their campaign stops today, a day before American President Donald Trump is expected to impose "reciprocal" tariffs by increasing U.S. duties to match the tax rates that other countries charge on imports. Tomorrow, Trump may also reinstate economy-wide tariffs on Canada and Mexico, which he has linked to the flow of fentanyl. Earlier this month, Trump hit Canada and Mexico with 25 per cent across-the-board duties, with a lower 10 per cent levy on Canadian energy — then partly paused the tariffs a few days later until April 2.
Consumer carbon price now set at $0
Consumers are paying a new price on their carbon emissions starting today — $0. The levy had previously been set at $80 per tonne, an amount that has increased yearly since thecharge was first imposed in 2019. That had most recently equated to 17.6 cents on each litre of gasoline and roughly $4 for each gigajoule of natural gas burned for home heating. One of Prime Minister Mark Carney's first actions when he took office last month was to do away with the consumer carbon charge. The drop should be reflected quickly at the gasoline pumps, though it may be offset by swings in crude prices or refinery downtime.
Here's what else we're watching...
Outages persist after Ontario ice storm
Ontario's provincial utility says power has been restored to more than half a million customers since the start of a weekend ice storm but that some hard-hit regions may have to wait until the end of the week. Hydro One says more than 280,000 homes and businesses were still without power as of Tuesday morning. As it moved east, the storm also caused outages in Quebec, though on a smaller scale with 3,000 customers still in the dark, according to Hydro-Québec. Parts of the Atlantic provinces and northeastern Quebec are under heavy rainfall or freezing rain warnings.
Bay closures give malls room to innovate: experts
Entertainment venues, apartments and even pickleball courts may be coming to your local mall after Hudson's Bay departs. Retail and real estate experts say the closure of most of the355-year-old company's department stores could see some of the country's most sought-after and high-traffic spaces inmalls reimagined. What happens to the spaces hinges on bids Hudson’s Bay is seeking from companies willing to assume its leases. For a bid to be successful, a bidder may have to agree to the same terms as the Bay, which could include a requirement that any new tenant be a department store.
Book industry says it should be kept out of trade war
Canada's literary institutions are banding together on the eve of an expected announcement about counter-tariffs on U.S. imports that could include books. Booksellers big and small, libraries and publishers are advocating for books to be left off the list of American-made items subject to tariffs from theCanadian government. The executive director of theAssociation of Canadian Publishers says the majority of books sold in Canada are imported, so tariffs would have a big effect on an industry where margins are already slim. Jack Illingworth says Canadian books and other cultural goods are not currently subject to U.S. tariffs, but Congress could change that if Canada imposes its own levy on book imports.
AP: NHL, Rogers agree to US$7.7-billion deal
The NHL and Rogers have agreed to a new 12-year Canadian broadcasting deal worth US$7.7 billion, a person familiar with the deal told The Associated Press. The person spoke to TheAssociated Press on Monday on condition of anonymity because it had not been announced. The NHL contracted with ESPN and Turner Sports in 2021 for the current U.S. TV and streaming rights deal for $4.5 billion over seven years combined. Sportico was first to report the deal and said owners would vote on it this week.
This report by The Canadian Press was first published April 1, 2025.
