Latest news with #CanadianGoods
CTV News
6 days ago
- Business
- CTV News
As trade war drags on, fewer Canadians boycotting U.S. products: poll
"Buy Local" signs are seen on grocery store shelves in Victoria, B.C., on Monday, Feb. 10, 2025. For some Canadians, the days of checking 'product of' labels to send a message to Washington, D.C., have come to an end. According to a recent Research Co. poll, the number of Canadians who are avoiding the purchase of American goods has dropped by four percentage points since March. Overall, the company found 60 per cent of Canadians still favour non-U.S. goods when they're available. 'While the proportion of Canadians who are actively boycotting products made in the United States has subsided over the past two months, it still encompasses a sizeable majority across the country,' Research Co. said, in a news release. The poll also found fewer Canadians are eschewing American restaurant franchises in Canada, with only 36 per cent doing so, a decrease of five percentage points from March. Those who have cancelled a planned trip to the United States now sit at 35 per cent, down two percentage points. Across the border in Washington state, Bellingham and Seattle both feel the impacts of British Columbian boycotts. The Bellingham Regional Chamber of Commerce said border traffic fell more than 50 per cent year over year in April, and businesses in Whatcom County are suffering because of it. 'It's been somewhere between volatile and a pretty sizable decline,' said Guy Occhiogrosso, the chamber's president. Occhiogrosso went on to say that he hopes the tension between the two countries can ease and cross-border travel for groceries, clothing and other products will return to the way it once was, as the local economy benefits from the additional traffic. The City of Seattle is also facing the impacts. Although hard data has yet to be released, tourism officials have noted a clear decrease in B.C. licence plates. 'What we're seeing is certainly a decline right now,' said Michael Woody, the chief strategy officer for Visit Seattle. 'Very saddening for us because we love our friends in Canada.' Woody added that the number of Canadians arriving by plane dropped 20 per cent in February, but is now down 12 per cent. Similair to those in Bellingham, Seattle officials are hopeful Canucks will come back – but understand that the bruises from some of the political rhetoric over recent months could take some time to heal. 'The most important thing is that we love you, neighbours. And we're ready for you to come back when you're ready,' said Woody. Last week, U.S. President Donald Trump announced he planned to increase tariffs on imported steel and aluminum from 25 per cent to 50 per cent. The drastic change has sent shockwaves across B.C. as communities like Kitimat rely on selling aluminum to American partners. UBC political scientist Torsten Jaccard told CTV News that pre-Trump, tariff rates were one to three percent, and the increases will impact both sides of the border. 'This is a significant departure from almost 100 years of economic integration, and will carry significant costs for both sides involved,' said Jaccard. Potentially reviving the sense of patriotism when it comes to purchases, which has been lost in recent months. Jaccard went on to explain that Canadian imports account for about 25 per cent of total U.S. steel use, and Canada is the largest supplier of foreign steel. 'Canadian steel exports account for maybe a third of total U.S. steel imports. So the U.S. does have other options, which does not bode well for Canadian steel producers,' said Jaccard. 'Aluminum is the opposite.' Jaccard said Canadians will probably face the brunt of U.S. tariffs but for aluminum, he expects the tariffs will be quite costly to Americans
Globe and Mail
21-05-2025
- Business
- Globe and Mail
Canadian Investors Rethink Spending and Investment Decisions Amid Global Trade Wars: New Broadridge Survey Reveals
83% of respondents said they are likely to only purchase Canadian goods and services in the next six months A third (35%) of respondents say they plan to adjust investment portfolios in the next six months, while 34% intend to stay the course and 30% remain unsure Half of respondents reported exploring new investment opportunities over the past six months TORONTO , May 21, 2025 /CNW/ -- Heightened macroeconomic volatility and a global trade war have prompted Canadians to rethink their investment and spending decisions according to the 2025 Canadian Investor Study, a new survey from global technology leader Broadridge Financial Solutions, Inc. (NYSE: BR). The survey found that a majority (83%) of Canadian investors are likely to adjust their purchasing habits to spend more on Canadian-owned goods and services and that one-third (35%) of investors plan to make meaningful changes to their investment portfolios in the next six months. Among generations, half of Gen Z (51%) and Millennial (49%) investors plan to be more proactive in adjusting their portfolios compared to just 15% of Baby Boomers. As public markets remain volatile, half of respondents reported that they have explored new investment vehicles over the past six months, including: digital assets (20%), private markets (19%) and precious metals (18%). However, Canadian investors reported that one of the top challenges are they face when it comes their personal investments are regulatory/taxation barriers across borders (36%), data privacy/cybersecurity (36%), limited access to international markets (31%), highlighting a lack of opportunities for Canadians to broaden their exposure to new investment vehicles given international trading constraints. "Canadians are turning their focus inwards as they adjust their purchasing habits to spend more on Canadian goods and services and rethink their portfolios amid a prolonged state of uncertainty," said Karin Kirkwood , President of Broadridge Canada. "As these investors explore their investment options to futureproof their portfolios, they increasingly expect trusted advice and new investment vehicles from advisors to be supported by modern technology. This presents a clear opportunity for financial institutions to help investors navigate uncertainty and achieve their financial goals through a combined high-tech, high-touch approach." Against the current macroeconomic backdrop, Canadian investors are split on the state of their investments. Just over half (56%) report that they feel positively (somewhat or very) about the outlook of their investments over the next twelve months. Additional key findings Top sources of financial information include financial advisors (44%), friends and family (39%), and news websites/apps (35%). Among Gen Z investors, however, social media (41%) and financial influencers or content creators (29%) are more popular sources than financial advisors (28%). Emerging technologies like GenAI are gaining traction: 18% of Gen Z and 21% of Millennials have used AI-driven platforms to gather investment information Of all investors using Gen AI (12%), the majority (88%) were likely to act on the advice provided. Embracing a hybrid model when it comes to financial advice: Nearly three quarters (74%) of Canadian investors currently work or have worked with a financial advisor, and 60% currently use or have used a do-it-yourself (DIY) investing platform. DIY investing platform usage is highest among Millennial investors (70%). The top concerns impacting Canadian investors' ability to reach their financial goals are the rising cost of living (27%), market volatility and economic uncertainty (18%), and political & regulatory uncertainty (11%). Despite increased demand for a digital-first experience, respondents cited fraud , identity theft, and financial loss due to cyberattacks as top concerns when it comes to data privacy/cybersecurity among financial institutions. At the same time, financial institutions that deliver strong, personalized service stand out. Quick response times, easy-to-navigate platforms and clear communications & customizations were cited by respondents as the definition of superior client experience. To download the full report, please visit here. Survey Methodology This survey presents the findings of a CARAVAN® survey conducted by Big Village Insights among a sample of 1,004 adults, ages 18 and older, who live in Canada and have household investable assets of $100,000 or more. The survey was conducted from March 20 – March 26, 2025 . About Broadridge Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $10 trillion of securities globally. A certified Great Place to Work ®, Broadridge is part of the S&P 500 ® Index, employing over 14,000 associates in 21 countries. For more information about us, please visit
CTV News
08-05-2025
- Business
- CTV News
Essex County wants to buy Canadian
Essex County Council has given initial approval to a policy prioritizing the purchase of Canadian goods and services when possible.
