Businesses seeing drop in US customers during holiday season amid tariffs

Canada has announced additional measures aimed at protecting its steel and lumber sectors, which have been adversely affected by tariffs. This initiative reflects the government's commitment to support these critical industries amid ongoing trade challenges.

American shoppers are reconsidering purchases from Canada and England due to a new $10 tariff on items valued under $27, which was introduced to combat drug trafficking and low-quality goods entering the U.S. market. This change has led to a decline in small-item purchases from these countries.

Canada is actively pursuing a trade deal with India, marking a significant shift in relations after years of tension, particularly influenced by former President Trump's global alliance strategies. This development follows Canada's recent engagement with Beijing at the Asia-Pacific summit, indicating a broader diplomatic effort.

Seasonal hiring in the US is expected to decline to its lowest level since 2008, reflecting a cautious approach among businesses amid ongoing tariffs and consumer uncertainty. This year marks a significant shift as many individuals struggle to secure holiday employment opportunities.

The ongoing trade war with the United States, coupled with bans on U.S. wine imports and a recent distributor strike in British Columbia, has prompted Canadians to increasingly support their local wine industry. Notably, sales at Cannon Estate Winery in Abbotsford have surged by 66 percent this year.

Canada's industry minister has indicated that Anglo American's commitments regarding its proposed acquisition of Teck Resources are insufficient, as a decision on the takeover is expected in the coming months. The minister's remarks highlight concerns over the adequacy of Anglo's pledges to secure the deal, which is valued at $57 billion.

The European Union is easing regulations on artificial intelligence (AI), while the United States is taking even more drastic measures to promote growth in the sector. Despite ongoing concerns about a potential AI bubble, Nvidia's impressive quarterly earnings have alleviated immediate fears, suggesting that the bubble has not yet burst.

Prime Minister Mark Carney is considering attending the 2026 World Cup draw at the Kennedy Center in Washington on December 5, as the U.S., Mexico, and Canada prepare to co-host the tournament. This comes amid stalled trade talks between Canada and the U.S., raising questions about the future of economic relations.