How a Dieppe-based ambulance manufacturer is affected by trade war
Malley Industries makes ambulances and accessible vehicles, including some for American customers. The company is now navigating the tariff uncertainty.
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Vancouver Sun
4 hours ago
- Vancouver Sun
Elbows-up tourism surge could see sector ‘eke out' a gain even as Americans stay away
From the front desk of Hotel Bedford in Goderich, Ont., Lynda Cross welcomes guests from regions ranging from southern Ontario to the South Pacific. 'A lot of them come from Toronto,' said the manager, standing just inside the Romanesque arches of the 129-year-old establishment. 'Just lately, we've had a few groups come from Australia' — a first, she said. But one crop of tourists has been conspicuously absent this year: Americans. 'May and June have been slow.' Plan your next getaway with Travel Time, featuring travel deals, destinations and gear. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Travel Time will soon be in your inbox. Please try again Interested in more newsletters? Browse here. A groundswell of economic patriotism has stoked curiosity in Canadian destinations, fuelling a domestic bookings surge as travellers turn away from cross-border trips. But a drop in American visitors north of the border and fears that many Canadians will simply stay home to save money has many wondering whether homegrown and overseas tourism can make up for the stateside decline. Canadian vacationers' boycotting the U.S. could net this country's tourism sector up to $8.8 billion in extra business this year as travellers explore spots closer to home, according to a report from the Conference Board of Canada. An April survey on travel intentions prompted the group to predict a windfall despite fewer border crossings this year by American tourists — Canada's largest source of inbound travellers by far. The number of Americans who visited Canada by car fell nearly 11 per cent in April compared with the same month last year, the third straight month of year-over-year decreases, according to Statistics Canada. While trip numbers for Canadians heading to the U.S. have fallen off far more steeply as part of a backlash against U.S. President Donald Trump's tariffs and '51st state' threats, Americans' more moderate pullback owes to factors ranging from pinched pocketbooks to fears of feeling unwelcome to angst over the border crossing on the drive home. The American retreat could hit communities that hug the border especially hard. 'Border towns that have tended to experience the shorter, more frequent back-and-forth visits — those are going to be communities that are going to be more heavily affected,' said Andrew Siegwart, who heads the Tourism Industry Association of Ontario. Duty-free stores have seen their revenue drop by 60 to 80 per cent in the last few months, according to an association representing 32 of the mostly mom-and-pop shops. Whether overseas travellers can make up for much of the lower American traffic across the country is questionable. Visitor volume from China, previously a key source of tourists, sat at 40 per cent of 2019 levels last year amid ongoing restrictions on group travel to Canada, according to Destination Canada. The federal government imposed new visa requirements on Mexican visitors last year, making it harder for tourists from that country to come. 'Travel from India has also been down for a number of reasons. So it's going to take some time,' said Siegwart. However, many America-averse Canadians are spending their travel budget in their own backyards. More than half of respondents to a survey released Monday by Ontario's travel regulator said they were more likely to make excursions closer to home, with the trend holding across all age groups. 'It could be a year where we manage to stay on par with last year, or maybe even eke out a little bit of a gain,' said Siegwart. But he acknowledged the hurdle of consumer anxiety over the economy. 'I'm cautiously optimistic,' he said, 'but it's too early to tell.' Summer bookings were either the same or higher than last year at two out of three businesses surveyed by the association in a poll released last month. John Steele, who owns seven hotels in Newfoundland and Labrador and one in Fredericton, said visitor levels look 'pretty good' at most of his properties but softer in Gander. New direct flights to St. John's from London and Paris have made it easier for international travellers to come from away. 'Air access seems to be improving for us. That's a big thing for us,' Steele said. At Okanagan Wine Country Tours in British Columbia, bookings from Europe and the United Kingdom have risen about 20 per cent year-over-year, said partner and manager Marsha Morrish. 'The traffic from Quebec is up substantially,' she added. Americans are more tepid — even those who do head north. 'They did email me to do a bit of a temperature check on how Canadians were feeling about Americans visiting,' Morrish said, referring to a Colorado couple coming up to sample Pinot Gris. While there's a chance American tourist numbers could surge, it's unlikely to happen this year, Siegwart suggested — including for corporate gatherings. 'Some convention centres, both in Ontario and across the country, have seen some drops in American conference bookings.' Much of it has to do with personal safety and security, as some workers worry about how they'll be treated at the border. 'Depending on your immigration status, depending on if you're a member of an LGBTQIA community, if your gender markers or identities on your passports are different than your gender expression — all sorts of things like that are really coming into play,' Siegwart said. 'My colleagues south of the border are a little more cautious in how they plan things because of the unpredictable way in which their administration is conducting business.' On the flip side, there's more interest from corporate event planners in Europe 'who still want to come to North America but see Canada as a safer bet.' Some Americans remain undeterred though. 'I've seen way more people from the States this year,' said Wendy Mooney, owner of Country Hideaway RV Campground, which sits barely a kilometre from the border in the B.C.'s West Kootenay region. 'Some people just fly by the seat of their pants.'
Winnipeg Free Press
4 hours ago
- Winnipeg Free Press
Elbows-up tourism surge could see sector ‘eke out' a gain even as Americans stay away
From the front desk of Hotel Bedford in Goderich, Ont., Lynda Cross welcomes guests from regions ranging from southern Ontario to the South Pacific. 'A lot of them come from Toronto,' said the manager, standing just inside the Romanesque arches of the 129-year-old establishment. 'Just lately, we've had a few groups come from Australia' — a first, she said. But one crop of tourists has been conspicuously absent this year: Americans. 'May and June have been slow.' A groundswell of economic patriotism has stoked curiosity in Canadian destinations, fuelling a domestic bookings surge as travellers turn away from cross-border trips. But a drop in American visitors north of the border and fears that many Canadians will simply stay home to save money has many wondering whether homegrown and overseas tourism can make up for the stateside decline. Canadian vacationers' boycotting the U.S. could net this country's tourism sector up to $8.8 billion in extra business this year as travellers explore spots closer to home, according to a report from the Conference Board of Canada. An April survey on travel intentions prompted the group to predict a windfall despite fewer border crossings this year by American tourists — Canada's largest source of inbound travellers by far. The number of Americans who visited Canada by car fell nearly 11 per cent in April compared with the same month last year, the third straight month of year-over-year decreases, according to Statistics Canada. While trip numbers for Canadians heading to the U.S. have fallen off far more steeply as part of a backlash against U.S. President Donald Trump's tariffs and '51st state' threats, Americans' more moderate pullback owes to factors ranging from pinched pocketbooks to fears of feeling unwelcome to angst over the border crossing on the drive home. The American retreat could hit communities that hug the border especially hard. 'Border towns that have tended to experience the shorter, more frequent back-and-forth visits — those are going to be communities that are going to be more heavily affected,' said Andrew Siegwart, who heads the Tourism Industry Association of Ontario. Duty-free stores have seen their revenue drop by 60 to 80 per cent in the last few months, according to an association representing 32 of the mostly mom-and-pop shops. Whether overseas travellers can make up for much of the lower American traffic across the country is questionable. Visitor volume from China, previously a key source of tourists, sat at 40 per cent of 2019 levels last year amid ongoing restrictions on group travel to Canada, according to Destination Canada. The federal government imposed new visa requirements on Mexican visitors last year, making it harder for tourists from that country to come. 'Travel from India has also been down for a number of reasons. So it's going to take some time,' said Siegwart. However, many America-averse Canadians are spending their travel budget in their own backyards. More than half of respondents to a survey released Monday by Ontario's travel regulator said they were more likely to make excursions closer to home, with the trend holding across all age groups. 'It could be a year where we manage to stay on par with last year, or maybe even eke out a little bit of a gain,' said Siegwart. But he acknowledged the hurdle of consumer anxiety over the economy. 'I'm cautiously optimistic,' he said, 'but it's too early to tell.' Summer bookings were either the same or higher than last year at two out of three businesses surveyed by the association in a poll released last month. John Steele, who owns seven hotels in Newfoundland and Labrador and one in Fredericton, said visitor levels look 'pretty good' at most of his properties but softer in Gander. New direct flights to St. John's from London and Paris have made it easier for international travellers to come from away. 'Air access seems to be improving for us. That's a big thing for us,' Steele said. At Okanagan Wine Country Tours in British Columbia, bookings from Europe and the United Kingdom have risen about 20 per cent year-over-year, said partner and manager Marsha Morrish. 'The traffic from Quebec is up substantially,' she added. Americans are more tepid — even those who do head north. 'They did email me to do a bit of a temperature check on how Canadians were feeling about Americans visiting,' Morrish said, referring to a Colorado couple coming up to sample Pinot Gris. While there's a chance American tourist numbers could surge, it's unlikely to happen this year, Siegwart suggested — including for corporate gatherings. 'Some convention centres, both in Ontario and across the country, have seen some drops in American conference bookings.' Much of it has to do with personal safety and security, as some workers worry about how they'll be treated at the border. 'Depending on your immigration status, depending on if you're a member of an LGBTQIA community, if your gender markers or identities on your passports are different than your gender expression — all sorts of things like that are really coming into play,' Siegwart said. 'My colleagues south of the border are a little more cautious in how they plan things because of the unpredictable way in which their administration is conducting business.' Monday Mornings The latest local business news and a lookahead to the coming week. On the flip side, there's more interest from corporate event planners in Europe 'who still want to come to North America but see Canada as a safer bet.' Some Americans remain undeterred though. 'I've seen way more people from the States this year,' said Wendy Mooney, owner of Country Hideaway RV Campground, which sits barely a kilometre from the border in the B.C.'s West Kootenay region. 'Some people just fly by the seat of their pants.' This report by The Canadian Press was first published June 9, 2025.
Toronto Sun
7 hours ago
- Toronto Sun
Ontario drops American banks from U.S.-dollar bond sale in first since 2011
Published Jun 09, 2025 • Last updated 6 minutes ago • 3 minute read Queen's Park in Toronto on May 12, 2025. CYNTHIA MCLEOD/TORONTO SUN Ontario left American banks out of a US-dollar bond sale for the first time in almost 14 years, choosing Barclays Plc as its foreign bank to help manage a $2 billion debt issue. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account Canada's largest province sold 10-year bonds last week in a deal led by Barclays and three Canadian banks — BMO Capital Markets, Canadian Imperial Bank of Commerce and Bank of Nova Scotia. It's the first greenback bond issue for Ontario since early January, shortly before Donald Trump's inauguration. The last time US banks were not involved in a US-dollar bond sale by Ontario was July 2011, Bloomberg records show. Since then, the province has done about 40 such deals. Bank of America Corp. was involved in the January sale; Goldman Sachs Group Inc. and JPMorgan Chase & Co. were the US banks on the one before that, in September. The deal 'was part of regular bond rotation and US banks were in no way deliberately excluded,' Colin Blachar, a spokesperson for Ontario's ministry of finance, said in an email. 'Bond issuance is run through the Ontario Financing Authority, which is an arms-length organization to government.' Questions to the OFA were referred back to the finance ministry. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Ontario Premier Doug Ford has expressed anger over US President Donald Trump's tariffs, which have hit key sectors of the province's economy. In March, after the White House unleashed its first wave of tariffs against Canada, Ford's government released a policy that restricts public-sector entities in procuring from US businesses. The government ordered US-made wine and liquor pulled from the shelves of alcohol stores and said provincial building projects would focus on using Canadian-made materials, as much as possible. But the policy doesn't specifically state that the Ontario Financing Authority can't give new business to US financial institutions. Ontario is the center of Canada's automotive industry, the home to assembly plants owned by General Motors Co., Honda Motor Co. and other manufacturers, and has large steel mills — sectors that have been specifically targeted by Trump in his tariff policy. The province's unemployment rate rose to 7.9% in May, up more than a percentage point from a year earlier. This advertisement has not loaded yet, but your article continues below. The province expects to borrow nearly C$60 billion ($43.8 billion) in this fiscal year to fund a growing budget deficit, and has said that as much as 30%, or nearly C$13 billion, may come from foreign markets. Other Canadian provinces are also expected to borrow more this year as an economic slowdown leads to wider budget deficits. JPMorgan has already lost 'a couple' of bond deals tied to the tariff uncertainty, with issuers opting for local banks instead, JPMorgan Chief Executive Officer Jamie Dimon said in April, without giving specifics. Ontario isn't the only province to break with American banks for foreign-currency bonds since the US began placing tariffs on imports from Canada earlier this year. In April, Alberta sold a €1.25 billion ($1.4 billion) bond without using Bank of America, a first in six years. That exclusion, which Alberta said at the time wasn't the result of a blanket ban, aligned with the broader provincial move to reject US goods and services. British Columbia, on the other hand, sold a $2.5 billion US-dollar bond on Wednesday using a syndicate group that included Bank of America and Citigroup. The western province also sold a euro bond with the help of JPMorgan late last month. 'Being an issuer in the US-dollar global bond market can include US banks among the lead managers and support competitive and efficient access to international US dollar investors, as well as strong secondary market performance,' a spokesperson for BC's finance ministry said via email. World Sunshine Girls Golf Canada Editorial Cartoons
