Politics
Global economies including Canada are stable, but tariffs weighing: OECD – National TenX News
A new report finds that despite the negative impacts of tariff policies worldwide so far, including in Canada, global economies are still expected to grow — unless tariffs escalate for the worse.
The latest economic outlook by the Organization for Economic Co-operation and Development, an intergovernmental organization with 38 member countries, shows that even as tariffs are creating significant challenges for economies worldwide, most are still performing better than expected.
“Global growth proved more resilient than expected in the first half of 2025, especially in many emerging markets but also the United States,” the report says.
“While the full impact of tariff increases is still unfolding, early signs of effects are visible in consumer behaviour, labour markets and prices.”
In March, United States President Donald Trump sparked a trade war by imposing tariffs on almost all countries, including Canada.
Talks are underway towards reviewing the Canada-United States-Mexico trade agreement (CUSMA) next year, with both the U.S. and Canada announcing public consultations earlier this month.
Tariffs that are currently in place have been leading to higher costs for some goods and services, which has led businesses to make difficult decisions.
Some businesses have reportedly been “absorbing” some of the increases so as to not have to raise prices for customers, but this has also meant losing potential profits. In other instances, businesses have had to adjust or halt expansion plans and diversify their supply chains to navigate around tariffs they would otherwise have to pay.
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Small businesses in particular are at higher risk of closing permanently because of tariffs.
Canada’s labour market has also been getting hit, with the national unemployment rate rising above seven per cent in August, and consumers have also been reducing their spending.
These effects from the trade war have been seen not only in Canada but also in many other countries, according to the report from the OECD.
“Labour markets are softening, with higher unemployment and fewer job openings in some economies, while disinflation has stalled in many economies as food prices rose and services inflation remained persistent,” the report said.
Economies are still expected to grow in the coming months and into next year — albeit modestly.
The OECD report expects economic output globally, measured by gross domestic product, to rise 3.2 per cent by the end of this year, and that compares with a previous expectation of 2.9 per cent growth.
For 2026, the OECD says global growth is still expected to rise 2.9 per cent as the full effect of tariffs unfolds.
GDP is the measure of a nation’s total sum of all goods and services produced in a given period, and is a key way to tell if an economy is in a recession — an extended period of weakness in an economy.
Canada’s GDP has been showing some signs of slower growth, with June’s GDP marking a third straight monthly decline, totalling 0.3 per cent, and July’s GDP report is due on Sept. 26.
The OECD report says that by the end of this year, Canada’s GDP will grow by one per cent, and that compares with a 1.5 per cent increase in 2024.
In 2026, the organization expects Canada’s GDP to rise 1.1 per cent for the full year.
On Sept. 17, the Bank of Canada delivered its first rate cut since March, and cited the “weaker economy” amid the trade war as the signal that it was time to bring down borrowing costs.
“(The Bank of Canada) published three scenarios for the Canadian economy: one based on current tariffs, another one with an escalation of tariffs, and another with a de-escalation. If you take the current tariff scenario, which is roughly the tariff scenario we’re still in, we’re not expecting a recession,” governor Tiff Macklem said to reporters after the announcement.
“Growth was clearly negative in the second quarter, we are expecting growth somewhere around one per cent in the second half of the year. So that is slow growth. It’s not going to feel good. It is growth, but it’s slow growth because the economy is adjusting to a different relationship with its biggest trading partner.”
The OECD is remaining cautious in warning that tariff policies are “still unfolding,” and urging that “countries should co-operate to ease trade tensions and lower trade barriers while addressing economic security concerns.”
The OEC adds that central banks, like the Bank of Canada, need to “remain vigilant” in maintaining price stability by adjusting interest rates as needed, and public debt must be minimized to help “preserve the capacity to respond to future shocks.”
© 2025 Global News, a division of Corus Entertainment Inc.
A trip to the world’s most-visited museum is about to cost Canadians significantly more.
France has hiked ticket prices at the Louvre by 45 per cent for visitors from outside the European Union, a move that is fuelling debate over so-called dual pricing and the growing backlash against overtourism.
Starting this week, adult visitors from non-EU countries, including Canada, must pay €32 to enter the Paris landmark, up from €22. That’s an increase from about $35 to $52 Canadian.
Visitors from EU countries, as well as Iceland, Liechtenstein and Norway, will continue to pay the lower rate.
The price hike comes as the Louvre grapples with repeated labour strikes, a high-profile daylight jewel heist last October that prompted a costly security overhaul, and years of chronic overcrowding. The museum attracts roughly nine million visitors annually.
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Some Canadian tourists told Global News they feel unfairly targeted.
“We didn’t cause the robberies or some of the other issues that happened and we are paying the consequences,” said Allison Moore, visiting Paris from Newfoundland with her daughter. “[In] Canada we don’t discriminate over pricing like that.”
Others argue tourists already shoulder higher costs simply by travelling long distances.
“In general for tourists, I think things should be a little cheaper than for local people, because we have to travel to come all the way here,” said Darla Daniela Quiroz, another Canadian visitor. “It should be equal pricing, or a little bit cheaper.”
Even some Europeans question the two-tiered system. A French tourist interviewed outside the museum said there was “no reason” to charge non-Europeans more and that the fee should be the same for everyone.
Tourism experts say the Louvre’s financial pressures help explain the decision.
“The Louvre is really cash-strapped right now and needs to do something,” said Marion Joppe, a professor at the University of Guelph. “It can’t really look to the government, which is already struggling with its own budget.”
The move also reflects a broader global pushback against mass tourism. Anti-tourism protests have spread across parts of Spain, New Zealand has increased its entry tax, and the United States recently raised national park fees for foreign visitors.
“You take Paris — it gets about 50 million tourists a year,” said Julian Karaguesian, an economist at McGill University. “That’s roughly a million a week. The city simply wasn’t built for those kinds of numbers.”
Despite the higher price, many visitors say they will still line up to see the Mona Lisa and other of the museum’s famous artworks.
“It’s one of the main attractions. It’s on everybody’s list,” Moore said. “We’re still going to go, and hopefully it will be worth it in the end.”
© 2026 Global News, a division of Corus Entertainment Inc.
Politics
Trump calls Canada-China deal ‘good thing’ as U.S. officials voice concern – National TenX News
Canada’s new trade deal with China is getting a mixed reaction in Washington, with U.S. President Donald Trump voicing support as administration officials warned Ottawa could regret allowing Chinese EVs into the Canadian market.
The deal signed with Beijing on Friday reverses course on 100 per cent tariffs Canada slapped on Chinese electric vehicles in 2024, which aligned with similar U.S. duties. Canada and China also agreed to reduce tariffs on canola and other products.
Asked about the deal by reporters at the White House, Trump said Prime Minister Mark Carney was doing the right thing.
“That’s what he should be doing. It’s a good thing for him to sign a trade deal. If you can get a deal with China, you should do that,” Trump said.
However, members of Trump’s cabinet expressed concern.
“I think they’ll look back at this decision and surely regret it to bring Chinese cars into their market,” U.S. Transportation Secretary Sean Duffy said at an event with other U.S. government officials at a Ford factory in Ohio to tout efforts to make vehicles more affordable.
U.S. Trade Representative Jamieson Greer told reporters the limited number of vehicles would not impact American car companies exporting cars to Canada.
“I don’t expect that to disrupt American supply into Canada,” he said.
“Canada is so dependent on the United States for their GDP. Their entire population is crowded around our border for that reason. I’ll tell you one thing: if those cars are coming into Canada, they’re not coming here. That’s for sure.”
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Carney has said it’s necessary for Canada to improve trade ties and cooperation with China in light of Trump’s trade war and threats to let the Canada-U.S.-Mexico Agreement on free trade expire.
The trade pact is up for review this summer, and Greer reiterated that the Trump administration wants to bring more auto manufacturing back to the U.S. and incentivize companies to do so.
Under the new deal with Beijing, Carney said he expects China will lower tariffs on its canola seed by March 1 to a combined rate of about 15 per cent.
Greer questioned that agreement in a separate CNBC interview.
“I think in the long run, they’re not going to like having made that deal,” he said.
He called the decision to allow Chinese EVs into Canada “problematic” and added: “There’s a reason why we don’t sell a lot of Chinese cars in the United States. It’s because we have tariffs to protect American auto workers and Americans from those vehicles.”
Greer said rules adopted last January on vehicles that are connected to the internet and navigation systems are a significant impediment to Chinese vehicles in the U.S. market.
“I think it would be hard for them to operate here,” Greer said. “There are rules and regulations in place in America about the cybersecurity of our vehicles and the systems that go into those, so I think it might be hard for the Chinese to comply with those kind of rules.”
Trump and officials like Greer have taken aim at Chinese attempts to enter the North American car market through Mexico by bypassing rules of origin under CUSMA.
The CUSMA review set for July is expected to address those loopholes that American and Canadian officials have said are being exploited by China.
Those concerns, which were also raised by the Biden administration, in part helped spur the steep tariffs on Chinese EVs, which are heavily subsidized by Beijing.
Trump, however, has also said he would like Chinese automakers to come to the United States to build vehicles.
Both Democrat and Republican lawmakers in the U.S. have expressed strong opposition to Chinese vehicles as major U.S. automakers warn China poses a threat to the U.S. auto sector.
Ohio Senator Bernie Moreno, a Republican, said at Friday’s event at the Ford plant that he was opposed to Chinese vehicles coming into the United States, and drew applause from the other government officials.
“As long as I have air in my body, there will not be Chinese vehicles sold the United States of America — period,” Moreno said.
—with files from Reuters
© 2026 Global News, a division of Corus Entertainment Inc.
Prime Minister Mark Carney’s trade mission to China is being framed as a win for British Columbia’s economy.
Carney announced a new deal with Beijing on electric vehicles and canola at the end of a high-profile trip on Friday.
“The inroads Canada has made this week are a sign that the government gets it and is showing Canadians and the world that we are open for business,” Alexa Young with the Vancouver Fraser Port Authority said.
The trade deal would allow up to 49,000 Chinese EVs into Canada yearly at a tariff rate of 6.1 per cent.
An expanded auto terminal on Annacis Island will be able to handle the additional volume of cars that could be more affordable than what is currently on the market, with prices expected to be under $40,000.
The New Car Dealers Association said in a statement to Global News that, “We look forward to reviewing the full details of this announcement and engaging constructively with governments to ensure that affordability, competition, and long-term market stability remain central considerations.”
In British Columbia, the overall reaction to the news on Friday is positive.
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“China’s economy is important,” Alex McMillan with the B.C. Chamber of Commerce said.
“Having trade deals like this — and diversifying our markets — is important. Providing certainty is important.”
There are concerns with the agreement, including privacy issues and China’s human rights record. But Ottawa’s goal is to double trade with partners outside the United States, which is a goal that would be impossible without China.
“We do want to see more trade and more diversification of our markets and know that China is an important nation and important economy, so having better trade relationships with them, I think overall is going to be good,” McMillan said.
–with files from The Canadian Press
© 2026 Global News, a division of Corus Entertainment Inc.
Louvre raises ticket prices for non-Europeans, hitting Canadian visitors TenX News
Trump calls Canada-China deal ‘good thing’ as U.S. officials voice concern – National TenX News
Canada-China trade deal framed as a win for B.C.’s economy TenX News
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