🇨🇦 Canada

As of 2026-11-12

Geopolitics & Diplomacy

Carney says Trump remains central to trade talks despite Democrats' midterm wins
Prime Minister Mark Carney said on Nov. 10 that despite Democrats' sweeping midterm wins, the US executive rather than Congress will decide trade agreements over the next two to three years, keeping Trump central to the talks. Canada faces a choice between accepting a deal that lowers but leaves some of Trump's tariffs in place, or holding out for free trade as Congress prepares to challenge them. Talks resumed after a Nov. 1 call and have moved past the French-language protection and cultural programming disputes that helped derail them in August, but other issues remain unresolved. US 50% tariffs and Canada's retaliation remain in place.
Sources: thehill.com abcnews.com
Carney signs comprehensive trade pact with UAE, diversifying beyond US
Canada signed a comprehensive trade agreement with the UAE on Oct. 28 as it diversifies away from the US market.
Sources: abcnews.com

Bank of Canada raises rate 25bp to 2.5%
The Bank of Canada raised its policy rate by 25 basis points to 2.5% on Oct. 28, its first hike since July 2023, saying the inflation outlook has deteriorated and oil prices are expected to stay higher for longer. It left room for further increases but signaled caution; the next decision is Dec. 9.
Sources: bankofcanada.ca boereport.com

Sanctions🇨🇦 Canada → 🇺🇸 United States
US-Canada trade war continues
Prime Minister Carney said Trump remains the key to trade talks even after the midterms. Whether to accept a deal that leaves some tariffs in place is the open question, and Canada's retaliatory tariffs remain.