Canada

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Economics

U.S. President Donald Trump signed a presidential proclamation on March 26 implementing a 25% tariff on all imported passenger vehicles and major auto parts, such as powertrain parts, going into effect on April 3 and May 3, respectively.

U.S.: White House Announces 25% Tariffs on All Passenger Vehicle Imports

Politics

New Canadian Prime Minister Mark Carney requested on March 23 that the governor-general dissolve Parliament, which was supposed to reconvene on March 24, and called early federal elections for April 28, The Globe and Mail reported on March 23.

Canada: Carney Sets Early Elections for April 28 To Capitalize on Increased Support for Liberals

China

China has executed four Canadian dual nationals thus far in 2025, all on unspecified drug-related charges, AP reported on March 19.

China, Canada: Ottawa Reveals Beijing's Executions of Four Dual Nationals This Year

China's commerce ministry announced 100% tariffs on $1 billion worth of imports of Canadian rapeseed (canola) oil, oil cakes and peas, and a 25% tariff on $1.6 billion of Canadian pork and aquatic products, effective March 20, The New York Times reported on March 8.

China, Canada: Beijing's New Tariffs Meant To Deter Ottawa From Trade War

Former British and Canadian central bank governor Mark Carney won Canada's Liberal Party's leadership election in a landslide, securing 85.9% of the vote and becoming prime minister-designate, CBC reported on March 9.

Canada: Mark Carney Wins Canada's Liberal Party's Leadership Election in a Landslide

U.S. President Donald Trump signed an executive order on March 6 pausing 25% tariffs on Mexican and Canadian goods that comply with the U.S.-Mexico-Canada Agreement until April 2, although the 10% tariff on Canadian energy will remain in place, Bloomberg reported the same day.

U.S.: Trump Signs Order Pausing Tariffs on Some Canadian and Mexican Goods

U.S. President Donald Trump said he would pause tariffs on cars produced in Canada and Mexico for one month, The New York Times reported on March 5.

U.S.: U.S. Tariffs on Mexican, Canadian Cars To Pause for One Month

Following Canadian Prime Minister Justin Trudeau's announcement of retaliatory tariffs against the United States, U.S. President Donald Trump wrote in a March 4 Truth Social Post, "Please explain to [Trudeau] that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!"

U.S., Canada: Trump Threatens To Add More Tariffs in Response to Canadian Retaliatory Tariffs

Snapshots

Canadian Prime Minister and Liberal Party leader Mark Carney speaks to his supporters in Ottawa, Canada, on April 29, 2025, after winning the country’s early general elections. 

Global Elections

Canada's newly elected Liberal government, led by Prime Minister Mark Carney, is poised to tackle an economic slowdown with tax cuts, domestic industry protection, and closer ties to Europe despite falling just short of a parliamentary majority.

Liberals Win Canada Election, but Minority Government Will Complicate Legislation

Assessments

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Pakistan

Indian soldiers stand guard atop their vehicle in Srinagar, India, on April 23, 2025, following a deadly militant attack on tourists in Indian-administered Kashmir.

Military & Security

U.S.-Iran Relations

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: Escalating Pakistan-India Tensions, Canadian Elections and Pope Francis' Funeral

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Forecast Webcast

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Russia-Ukraine Conflict

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Join our analysts for this webcast recording exploring key topics identified in RANE's 2025 Second-Quarter Forecast.

2025 Second-Quarter Forecast Webcast

Vietnam

United Kingdom

U.S. President Donald Trump delivers remarks on reciprocal tariffs as U.S. Secretary of Commerce Howard Lutnick holds a chart during an event in the Rose Garden entitled ''Make America Wealthy Again'' at the White House in Washington, D.C., on April 2, 2025. 

Trump's sweeping new tariffs will slow both U.S. and global economic growth, with lower-income Americans and emerging markets like Vietnam being hit hardest.

The U.S. Launches the Largest Trade War in Modern History

A "Canada First" rally addressed by Conservative Party Leader Pierre Poilievre on Feb. 15 the at the Rogers Center in Ottawa, Canada.

The Liberal Party will most likely win enough seats to form a government -- a stunning turnaround since former Prime Minister Justin Trudeau's Jan. 6 resignation.

Canada's Election: Potential Outcomes and Their Implications

Columns

On Geopolitics

U.S. President Donald Trump speaks from the Oval Office on March 7, 2025, after announcing that tariffs could be imposed on Canadian dairy and lumber products within days. 

The expanding scope of Trump's trade wars, coupled with the whiplash of tariffs being enacted and then suspended, begs the question: what is driving this strategy and what, if anything, will constrain it?

Trump's Emerging Trade Doctrine

Americas

Energy

Trump's trade and tariff policies will create new challenges for manufacturers seeking to move their operations closer to the U.S., but broader global dynamics will likely prevent a reversal in nearshoring trends. 

The Geopolitics of Trade: Rising Threats to Nearshoring in the Americas

Saudi Arabia

South Korea

Canadian flags are seen outside a building in Ottawa. 

The Weekly Rundown: Canada's Ruling Liberals Pick a New Leader, India and the EU Hold Trade Talks 

Palestinian Territories

A truck drives toward the Canada-U.S. border crossing in Blackpool, Canada, on Feb. 2, 2025.

Israel-Hamas Conflict

The Weekly Rundown: An EU Summit on Ukraine, U.S. Tariffs on Mexico, Canada and China

Shipping containers are seen at the Port of Montreal in Montreal, Canada, on Feb. 3, 2025. 

Sustained U.S. tariffs on Canada and Mexico would undermine North American economic growth and integration, and Trump's apparent willingness to accept these costs raises the risk of his other large tariff proposals being implemented.

The High Stakes of U.S. Tariffs on North American Trade

Democratic Republic of the Congo

Rwanda

Trucks wait to enter United States on Nov. 26, 2024, at the Otay crossing port in Tijuana, Baja California state, Mexico.

The Weekly Rundown: Trump's Tariffs, Congo Braces for More Fighting in the East

Costa Rica

Dominican Republic

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Guatemala

Panama

Lebanon

Hungary

U.S. Secretary of State Marco Rubio and his wife Jeanette Rubio arrive at the State Department in Washington, D.C., to speak to employees on Jan. 21, 2025. 

The Weekly Rundown: Israel-Lebanon Ceasefire Expires, Rubio Tours Latin America

Located on the North American continent, Canada is the world’s second-largest country. Most of Canada is uninhabited wilderness, and Arctic temperatures make the northern territories inhospitable to large population centers.     Canada became independent from the United Kingdom in 1867. The country is made up of 10 provinces and three territories. A majority of Canada’s 35 million people reside within 100 kilometers of the U.S. border, where the climate and topography support meaningful populations. However this population is spread across a distance of roughly 7,000 kilometers, from the Atlantic to the Pacific oceans. Canada's primary geographic challenge is maintaining unity across its diverse population cores, which include Toronto and Montreal in the Great Lakes watershed; the prairie provinces of Manitoba, Saskatchewan and Alberta; and Vancouver on the Pacific coast.     The economies of these population cores are geared toward external trade as they try to meet demand for their services, manufactured goods and natural resources like oil. Heavy crude oil found largely in the province of Alberta is exported to U.S. and international markets, making Canada the world’s sixth-largest oil producer. Distance and climate are perennial challenges for Canada. The Trans-Canada Railway was Ottawa’s first effort, completed in 1886, to link Montreal, Toronto, the prairies and Vancouver. Redistribution payments, collected from resource-rich provinces and disbursed to resource-poor provinces and territories, is a contemporary policy aimed to unify and equalize provincial and territorial finances.     Because of its location, Canada is well within the U.S. sphere of influence and the country's freedom to act is constrained by U.S. interests.

North America Unrivaled

A Crude Recovery

SITUATION REPORTS

U.S.: White House Announces 25% Tariffs on All Passenger Vehicle Imports

Canada: Carney Sets Early Elections for April 28 To Capitalize on Increased Support for Liberals

China, Canada: Ottawa Reveals Beijing's Executions of Four Dual Nationals This Year

China, Canada: Beijing's New Tariffs Meant To Deter Ottawa From Trade War

Canada: Mark Carney Wins Canada's Liberal Party's Leadership Election in a Landslide

U.S.: Trump Signs Order Pausing Tariffs on Some Canadian and Mexican Goods

U.S.: U.S. Tariffs on Mexican, Canadian Cars To Pause for One Month

U.S., Canada: Trump Threatens To Add More Tariffs in Response to Canadian Retaliatory Tariffs

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