New report finds taxes remain the biggest expense for Canadian families
CTV's Scott Hurst breaks down a new report which found Canadian families spent more on taxes in 2024 than on housing, food and clothing combined.
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Edmonton Journal
11 minutes ago
- Edmonton Journal
Canada's trade talks with U.S. in 'intense phase' after European Union makes deal ahead of deadline
Article content Carney and other Canadian officials have been downplaying expectations that a deal will be made by Friday. Article content Most of the goods Canada sends to the U.S. are CUSMA-compliant and won't be affected by the 35 per cent duties. The Canadian economy is still being slammed by Trump's Section 232 tariffs on steel, aluminum and automobiles, and will be hit by copper tariffs the president has said will take effect by the week's end. Article content So far, Trump's trade deals 'are really bad omens for Canada,' said William Pellerin, a trade lawyer and partner at the firm McMillan LLP. Article content '(It shows) that the tariffs, particularly the sectoral tariffs, are stickier than we would have thought,' Pellerin said. 'If none of those countries were able to secure a drop in the sectoral tariffs, that is certainly bad news.' Article content Those Section 232 duties are a key target for Canadian negotiators and Pellerin said it's unlikely any deal will be struck by Ottawa if they remain at their current levels. Article content Article content While there are similarities between the Canada-U.S. negotiations and those involving Europe, Carney said there are also many differences. While Europe is looking to end its reliance on Russian energy, Carney said Canada is a reliable supplier of energy to the United States. Article content The prime minister said negotiations remain complex but 'there is a landing zone that's possible.' Article content 'But we have to get there,' he said. Article content The EU agreement also averts significant retaliatory duties from a major United States customer — meaning that if Canada can't reach a deal with Washington, it would be more isolated if it attempts to retaliate against the U.S. Article content Canada and China have implemented retaliatory tariffs in response to Trump's trade war but, to allow talks to continue, Ottawa didn't move forward with additional duties. Article content Ontario Premier Doug Ford said Monday he supports a dollar-for-dollar tariff response, particularly to Trump's treatment of Canada's steel and aluminum industry. Article content Article content 'I'm confident with Prime Minister Carney, I know he's going to do his very best to get a deal,' Ford said. 'But I don't trust President Trump.' Article content B.C. Premier David Eby said Canada is in a 'different position' than the European Union or Japan, given the deeply integrated nature of North American supply chains. Article content 'We are a reliable partner, we are a good partner, but we also won't get kicked around,' he said. Article content Sands said Carney's recent move to limit imports of foreign steel into Canada will help shore up the domestic market during the tariff tumult while also avoiding the ire of the Trump administration. Article content The prime minister recognizes you can engage in retaliation, Sands said, but 'it doesn't bring you much joy.' He said there are other actions, such as import quotas, that would better protect Canadian markets.
Globe and Mail
11 minutes ago
- Globe and Mail
Procter & Gamble replaces CEO Jon Moeller with long-time executive Shailesh Jejurikar
Procter & Gamble PG-N CEO Jon Moeller is stepping away from the top job after four years in the role, and the consumer goods giant said he would be succeeded by chief operating officer Shailesh Jejurikar. Moeller will become executive chairman and 'provide advice and counsel to the CEO on company matters,' P&G said in a statement on Monday, a day before it was scheduled to report its quarterly results. The company did not disclose the reason for the change in leadership in its statement, but P&G chief communications officer Damon Jones told Reuters Moeller's departure was part of a planned and orderly transition made by the board. There were no health concerns leading to Moeller's departure, he said. The Cincinnati-based company has a history of relatively short CEO terms, dating back to the mid-1990s. Moeller's predecessor David Taylor was CEO for six years, two of which were during the COVID pandemic when consumer goods companies faced product shortages and supply chain snags. Taylor then served as executive chairman of the board. Procter & Gamble looks to raise prices as tariffs hit costs, force forecast cuts Under Moeller, the company navigated a postpandemic sales boom, as well as rising expenses and sticky inflation. P&G shares gained roughly 13 per cent during his four-year tenure, in line with the S&P 500 index. The company, which makes Pampers diapers and Head & Shoulders shampoo, in April warned of higher product prices due to an increase in input costs from the trade war at a time of weakening consumer spending. Its stock is down about 6 per cent so far this year. In June, the company said it would cut 7,000 jobs over the next two years and exit some product categories and brands in certain markets, including some potential divestitures, as part of a broader two-year restructuring plan. 'It might not mean much to the outlook since they're promoting from within,' said Brian Jacobsen, chief economist at Annex Wealth Management, which holds P&G shares. 'This could be more like the passing of the baton in a long race rather than shaking things up.' Jejurikar's appointment, effective Jan. 1, 2026, keeps up with P&G's preference for naming internal candidates for the top job. Moeller had also risen through the ranks before becoming the COO and then CEO of the company. The board has nominated Jejurikar as a director at the annual shareholder meeting in October, 2025. Jejurikar has held roles across multiple P&G businesses, including Health & Beauty Care and P&G Professional. Prior to his current role, he was the head of P&G's Fabric & Home Care, which includes brands such as Tide, Ariel and Downy.
National Post
11 minutes ago
- National Post
Canada's trade talks with U.S. in 'intense phase' after European Union makes deal ahead of deadline
Article content Most of the goods Canada sends to the U.S. are CUSMA-compliant and won't be affected by the 35 per cent duties. The Canadian economy is still being slammed by Trump's Section 232 tariffs on steel, aluminum and automobiles, and will be hit by copper tariffs the president has said will take effect by the week's end. Article content So far, Trump's trade deals 'are really bad omens for Canada,' said William Pellerin, a trade lawyer and partner at the firm McMillan LLP. Article content '(It shows) that the tariffs, particularly the sectoral tariffs, are stickier than we would have thought,' Pellerin said. 'If none of those countries were able to secure a drop in the sectoral tariffs, that is certainly bad news.' Article content Those Section 232 duties are a key target for Canadian negotiators and Pellerin said it's unlikely any deal will be struck by Ottawa if they remain at their current levels. Article content While there are similarities between the Canada-U.S. negotiations and those involving Europe, Carney said there are also many differences. While Europe is looking to end its reliance on Russian energy, Carney said Canada is a reliable supplier of energy to the United States. Article content The prime minister said negotiations remain complex but 'there is a landing zone that's possible.' 'But we have to get there,' he said. Article content The EU agreement also averts significant retaliatory duties from a major United States customer — meaning that if Canada can't reach a deal with Washington, it would be more isolated if it attempts to retaliate against the U.S. Article content Canada and China have implemented retaliatory tariffs in response to Trump's trade war but, to allow talks to continue, Ottawa didn't move forward with additional duties. Article content Ontario Premier Doug Ford said Monday he supports a dollar-for-dollar tariff response, particularly to Trump's treatment of Canada's steel and aluminum industry. Article content 'I'm confident with Prime Minister Carney, I know he's going to do his very best to get a deal,' Ford said. 'But I don't trust President Trump.' Article content B.C. Premier David Eby said Canada is in a 'different position' than the European Union or Japan, given the deeply integrated nature of North American supply chains. Article content Article content 'We are a reliable partner, we are a good partner, but we also won't get kicked around,' he said. Article content Sands said Carney's recent move to limit imports of foreign steel into Canada will help shore up the domestic market during the tariff tumult while also avoiding the ire of the Trump administration. Article content The prime minister recognizes you can engage in retaliation, Sands said, but 'it doesn't bring you much joy.' He said there are other actions, such as import quotas, that would better protect Canadian markets. Article content
