Canada Picks Former Pension Boss, BlackRock Executive As Top Diplomat in Washington

The Bank of Canada has adopted a cautious stance as it approaches 2026, citing high levels of uncertainty stemming from ongoing global trade tensions, tariffs, and an impending review of the Canada-United States-Mexico Agreement (CUSMA).

Canadian residents decreased their trips to the United States by nearly 30% in October, according to Statistics Canada, reflecting a significant decline in cross-border travel. This trend continues a pattern observed in recent months, indicating a shift in travel behavior among Canadians.

President Donald Trump has stated that the United States 'has to have' Greenland for national security, appointing Louisiana Governor Jeff Landry as the special envoy to lead efforts regarding the semi-autonomous territory of Denmark. This announcement was made on December 22, 2025, emphasizing Trump's ongoing interest in Greenland.

Demand for U.S. durable goods experienced a decline in October, as reported by the Commerce Department, marking a shift after two consecutive months of increases. This downturn highlights potential weaknesses in consumer spending and manufacturing sectors.

The Canadian government is advancing Bill C-12, a significant piece of legislation aimed at reforming border security and establishing new ineligibility criteria for refugee claimants. This move has raised concerns among observers who fear it may lead to a shift towards US-style border policies, potentially exacerbating xenophobia and the stigmatization of immigrants.