Brazil is engaged in a "constructive dialogue" with Canada to resume negotiations for a free trade agreement between South America's Mercosur bloc and Ottawa, the Brazilian Foreign Trade Secretary said, Reuters reported. Canadian officials are due to visit Brazil in late August, according to Tatiana Prazeres, Brazil's Foreign Trade Secretary, who shared details of the visit in a written response to Reuters this week.

Steve Mallia's Toronto-based telescope accessory business was thriving until March when the Trump administration imposed a 25% tariff on U.S.-bound orders that do not comply with local content rules under the U.S.-Mexico-Canada Agreement, Reuters reported. The tariff, imposed soon after U.S. President Donald Trump took office in January, effectively stopped Mallia's StarField Optics from competing in its main market, as many of the components used in its products came from China. "When we started to sell into the U.S., business was very strong. We were making money," Mallia said.

Canada will provide up to C$1.2 billion to help softwood lumber producers deal with U.S. countervailing and anti-dumping duties, Prime Minister Mark Carney said on Tuesday, Reuters reported. Carney, speaking to reporters in the Pacific province of British Columbia, said Ottawa would make up to C$700 million available in loan guarantees and also provide C$500 million to help speed product development and market diversification. Read more.

New court filings say Hudson's Bay has threatened to end a lease deal it has with a B.C. billionaire who wrote directly to a judge twice — against the retailer's advice — to try to persuade him to view her favourably, CBC.ca reported. In a 50-page package of materials Ruby Liu sent to Ontario Superior Court judge Peter Osborne, she positions her multimillion-dollar agreement to buy 25 leases held by the defunct retailer and its Saks Canada banners as being in jeopardy.

The risk of a severe and escalating global trade conflict has diminished since April and there is some clarity about what U.S. tariffs will look like, the Bank of Canada said on Wednesday, Reuters reported. But for the second quarter in a row, the bank did not issue regular economic forecasts, citing the uncertainty over the direction of U.S. trade policy. Instead it issued three scenarios as to what might happen. In the current tariff scenario, based on conditions on July 27, GDP grows by about 1% in the second half of 2025 and then picks up, hitting 1.8% in 2027.

The United States may not reach a negotiated trade deal with Canada, U.S. President Donald Trump said on Friday, suggesting his administration could set a tariff rate unilaterally, Reuters reported. Trump, speaking to reporters as he left the White House for a trip to Scotland, said, "We haven't really had a lot of luck with Canada.

Canadian companies face higher costs to purchase goods and services but are limited in raising consumer prices due to competitive pressures and weaker demand, according to quarterly surveys published Monday by the Bank of Canada, the Wall Street Journal reported. Overall, near-term inflation expectations among firms have eased after a sharp escalation in the previous quarter. More firms report a deteriorating sales outlook as the repercussions from chaotic U.S. trade policy continues to reverberate.

A small township in northern Ontario says it will suspend all municipal services next month, after years of financial instability and pleas for provincial help, GlobalNews.ca reported. The Township of Fauquier-Strickland announced the decision last Tuesday, citing over $2.5 million in accumulated operating deficits and the complete depletion of reserve funds. In a release issued July 9, municipal officials say they’ve exhausted all other options, including layoffs and significant service cuts.

Prime Minister Mark Carney on Wednesday said Canada will introduce a tariff rate quota for countries with which it has free trade agreements, excluding the United States, to protect the domestic steel industry, Reuters reported. A 50% tariff will apply to imports from these countries that surpass the 2024 volumes, though Canada will honor existing arrangements with its United States-Mexico-Canada Agreement trade partners, Carney said. Canada will implement additional tariffs of 25% on steel imports from all countries containing steel melted and poured in China before the end of July.