Connect with us

Politics

Hiring will stay ‘subdued’ over next year due to trade war, data suggests – National TenX News

Published

on


Canadians struggling to find stable employment or switch jobs may face an uphill battle over the next 12 months as the trade war keeps most businesses stuck in neutral and the job market “subdued.”

A new report from the Bank of Canada shows a large portion of businesses say they are taking a wait-and-see approach rather than investing in growing their operations and hiring new workers.

According to the central bank’s Business Outlook Survey for the third quarter of 2025, most businesses say they expect demand “weakness” for their products and services over the next year, which means many are expected to hold off on hiring new employees.

“Hiring intentions remain subdued. Most firms do not plan to increase the size of their workforce over the next 12 months. Soft demand, ongoing tariff uncertainty and minimal capacity pressures mean few businesses need to add staff,” said the Bank of Canada.

Story continues below advertisement

“Businesses no longer expect sales growth to strengthen over the coming year as tariff-related impacts continue to hold back demand. Firms attribute this anticipated weakness largely to broad spillover effects from the trade conflict,” said the Bank of Canada.

Some of these “spillover effects” include weaker spending by customers on services like renovations, corporate travel and events, as well as worries of less consumer spending over the next 12 months as affordability remains a struggle for many, according to the survey report.


Click to play video: '‘Stop betraying our workers’: Poilievre slams Carney over Stellantis job losses to U.S.'


‘Stop betraying our workers’: Poilievre slams Carney over Stellantis job losses to U.S.


The central bank also cited the weak outlook for the housing sector as one of these trade war effects, which has hampered demand for businesses and their services. This may include demand for home renovations and housing developments.

Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.

Get daily National news

Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.

Tariffs imposed by the United States in particular have meant higher costs for some goods and services, which has led businesses and global economies, including Canada, to seek alternative trading partners.

Story continues below advertisement

Wages may also be affected. On top of a tough job market to get into, Canadians who are currently employed may find out their wages and salaries are not going to increase as much as last year.

The Bank of Canada says businesses participating in the third quarter survey expect to increase wages for their workers by 2.3 per cent on average over the next 12 months, down from 2.9 per cent a year prior.

The unemployment rate in Canada was recorded at 7.1 per cent in September and has risen from 6.9 per cent in June as businesses adapt to the evolving trade outlook, especially for manufacturing.


Although most businesses say they plan to pause hiring rather than lay off workers, the Bank of Canada highlighted the aluminum and steel industry as being at a higher risk for layoffs as a result of tariffs.

“The share of firms planning outright staff reductions remains similar to that in [the] previous quarter. However, special consultations this quarter with firms in the aluminum and steel industry revealed that the impacts of U.S. tariff increases are leading to significant layoffs,” said the Bank of Canada.

“Canadian exporters of steel and aluminum products currently facing sectoral U.S. tariffs reported especially weak outlooks,” said the Bank of Canada.

“Although some exports of primary aluminum have been redirected to Europe, these exporters view this strategy as an unsustainable alternative to U.S. market access because of concerns about long-term profitability.”

Story continues below advertisement

Prime Minister Mark Carney is still working with U.S. President Donald Trump on a trade deal, with the goal of reducing or eliminating the U.S. tariffs on Canada that Trump has repeatedly imposed.

&copy 2025 Global News, a division of Corus Entertainment Inc.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Politics

Louvre raises ticket prices for non-Europeans, hitting Canadian visitors TenX News

Published

on


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.


Click to play video: 'French police arrest 5 more suspects in Louvre heist investigation'


French police arrest 5 more suspects in Louvre heist investigation


Visitors from EU countries, as well as Iceland, Liechtenstein and Norway, will continue to pay the lower rate.

Story continues below advertisement

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.

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

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.”


Click to play video: 'Louvre slammed for spending money on art instead of security in years before heist'


Louvre slammed for spending money on art instead of security in years before heist


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.

Story continues below advertisement

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.”


&copy 2026 Global News, a division of Corus Entertainment Inc.



Continue Reading

Politics

Trump calls Canada-China deal ‘good thing’ as U.S. officials voice concern – National TenX News

Published

on


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.

Story continues below advertisement

“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.”

Get the day's top news, political, economic, and current affairs headlines, delivered to your inbox once a day.

Get daily National news

Get the day’s top news, political, economic, and current affairs headlines, delivered to your inbox once a day.

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.


Click to play video: 'Carney welcomes ‘new era’ of Canada-China relations following ‘historic agreement’ with Xi Jinping'


Carney welcomes ‘new era’ of Canada-China relations following ‘historic agreement’ with Xi Jinping


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.

Story continues below advertisement

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.”


Click to play video: '‘I don’t trust what the Chinese put in these cars’: Doug Ford unhappy about Canada-China EV deal'


‘I don’t trust what the Chinese put in these cars’: Doug Ford unhappy about Canada-China EV deal


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.

Story continues below advertisement

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


&copy 2026 Global News, a division of Corus Entertainment Inc.



Continue Reading

Politics

Canada-China trade deal framed as a win for B.C.’s economy TenX News

Published

on


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.

Story continues below advertisement

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.”


Click to play video: 'Canada reaches tariff deal with China on canola, electric vehicles'


Canada reaches tariff deal with China on canola, electric vehicles


In British Columbia, the overall reaction to the news on Friday is positive.

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

Get breaking National news

For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.

“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.

Story continues below advertisement

“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


&copy 2026 Global News, a division of Corus Entertainment Inc.



Continue Reading

TRENDING

Copyright © 2022 TenX News Network