Latest news with #PwCCanada
Calgary Herald
02-08-2025
- Business
- Calgary Herald
Thinking of buying a cottage? You might want to think again: FP video
This week FP video takes a close look at Canada's housing market and explains why home prices aren't going to rise anytime soon and why you might want to rethink buying a cottage. Plus, how Canada's mining industry can capitalize on the energy transition and why U.S. investors are eyeing oil deals in Western Canada. Article content Monica Banting, national mining leader and partner at PwC Canada, talks with Financial Post's Larysa Harapyn about how the mining industry can attract new investment in Canada. Article content Article content A growing number of U.S. investors — and even some American producers — are quietly shopping for oil and gas deals in Canada, say industry insiders, as top-tier drilling prospects south of the border become harder to find. Article content
CTV News
31-07-2025
- Business
- CTV News
Canada spared from 50% copper tariff as U.S. targets China, expert says
Michael Dobner, National Leader of Economics & Policy Practice at PwC Canada, joins BNN Bloomberg to discuss the impact of tariffs on Canadian commodities.
National Observer
10-07-2025
- Business
- National Observer
US copper tariffs threat are met with shrugs, skepticism, though risks remain
US threats to impose 50 per cent tariffs on copper imports have been met with shrugs by Canadian mining companies and skepticism by analysts, though long-term risks remain. US President Donald Trump 's declaration on Tuesday of the coming tariffs came before a study on their need had been released, and the commitment came with no details of whether any countries might be exempt. On Wednesday, Trump announced on his Truth Social platform that the copper tariffs would take effect Aug. 1. But while key details remain unknown, Canadian mining companies have so far said they don't expect to be affected because copper concentrates are shipped overseas, largely to China. The raw resources are headed there because the country has built up massive smelting and fabricating operations, accounting for 75 per cent of added smelter capacity since 2000 and virtually all additions in the past five years, and 80 per cent on the fabrication side since 2019, according to Wood Mackenzie. China's growing dominance in metal processing is exactly why the US has, even before Trump's second term, moved to try and encourage more domestic capacity. The rush to impose steep tariffs immediately, even as capacity will take many years to develop, will mean US businesses and consumers will pay the price, said Michael Dobner, national leader of economics and policy practice at PwC Canada. "What I expect is that most of that tariff will be paid by US companies who are buying that copper," he said in an interview. Companies don't have much wiggle room on buying copper because it's so essential to many products, so they'll have to keep relying on imports, including from Canada, for some time, he said. "I expect most of it will fall on US companies, and so the impact on Canada in the short term will not be significant." Canadian aluminum producers have similarly been able to keep selling into the US despite high tariffs because US production capacity is so limited. Steel producers in Canada however have been hit much harder because there was excess capacity in the US, said Dobner. The prospects of US consumers getting hit with more costs because of Trump's policies raises the question of how viable they really are, and explains some of the muted market reaction, said Derek Holt, head of capital markets economics at Scotiabank. "Markets may be waiting to see proof and even then waiting to see if the moves are durable, given Trump's well documented erratic ways," he said in a note. "Simply put, markets have a tough time viewing his moves as credible," said Holt. "There is no sensible rationale for these measures that American consumers and businesses will pay for." Canadian exports of copper to the US totalled $5.7 billion in the 12 months through May, meaning a lighter potential impact than tariffs on steel and aluminum where Canada exported $34 billion worth of metal to the US, said BMO senior economist Robert Kavcic in a note. Quebec would be most affected as it's where most exports originate as Canada's only copper smelter, owned by Glencore plc, is there, but there could be wider repercussions, he said. "Bigger picture, even if a copper tariff would be relatively contained, it would be another shot that impacts business confidence more broadly." The threat of tariffs has already driven up copper prices in the US, and because it's such a core metal to the economy, the higher prices themselves could hit wider economic growth, said Dobner.
Economic Times
27-06-2025
- Business
- Economic Times
Canadians want to buy local this Canada Day, but rising prices are holding them back
Canadians show growing support for local goods ahead of Canada Day but rising prices and economic uncertainty challenge spending habits As Canada Day approaches, Canadians are eager to support homegrown products, but many are still holding back at the checkout counter. Canada Day, celebrated every July 1, marks the anniversary of Confederation and is one of the country's most patriotic holidays. A new PwC Canada survey finds that 75 percent of Canadians say they would pay more for premium or locally produced food. The report reflects a growing wave of consumer patriotism, boosted by tensions from the ongoing US-Canada trade war. 'Canadians value local products and want to support homegrown businesses,' said Elisa Swern, national retail and consumer leader at PwC the enthusiasm for buying Canadian comes with limits. 76 percent of those surveyed say they're concerned about the overall cost of food, and many are cutting back on spending as inflation and tariffs take their toll.A separate TD Bank Group study echoes that trend that Canadians are spending less across nearly every category, as economic uncertainty and US trade policy weigh heavily on household budgets. Still, the will to support Canadian goods is strong, especially when there's transparency. 63 percent of consumers say they'd pay more if they clearly understood where a product was from, and 58 percent actively seek sustainability information.'Consumers told us they want to buy more local, more Canadian, more sustainable goods,' Swern said. 'They want to know the story behind what they're buying.'To help close the gap between intent and affordability, retailers are stepping up efforts to label Canadian-made items both in-store and online, while producers work to scale operations and bring prices patriotic shift extends to travel, too. A TD tourism report shows 64 percent of Canadians plan to travel within the country this summer, avoiding trips to the U.S. as trade tensions rise. The federal government's Canada Strong Pass, launched earlier this month, is designed to support domestic tourism. It offers free or discounted admission to national parks, museums, and galleries. In Prince Albert National Park, staff are already bracing for a surge in visitors. 'This summer, people want to reconnect with Canada not just as a place, but as a principle,' said visitor services lead Aimee for many Canadians, it comes down to cost.
Time of India
27-06-2025
- Business
- Time of India
Canadians want to buy local this Canada Day, but rising prices are holding them back
As Canada Day approaches, Canadians are eager to support homegrown products, but many are still holding back at the checkout counter. Canada Day, celebrated every July 1, marks the anniversary of Confederation and is one of the country's most patriotic holidays. A new PwC Canada survey finds that 75 percent of Canadians say they would pay more for premium or locally produced food. The report reflects a growing wave of consumer patriotism , boosted by tensions from the ongoing US-Canada trade war. 'Canadians value local products and want to support homegrown businesses,' said Elisa Swern, national retail and consumer leader at PwC Canada. However, the enthusiasm for buying Canadian comes with limits. 76 percent of those surveyed say they're concerned about the overall cost of food, and many are cutting back on spending as inflation and tariffs take their toll. A separate TD Bank Group study echoes that trend that Canadians are spending less across nearly every category, as economic uncertainty and US trade policy weigh heavily on household budgets. Live Events Still, the will to support Canadian goods is strong, especially when there's transparency. 63 percent of consumers say they'd pay more if they clearly understood where a product was from, and 58 percent actively seek sustainability information. 'Consumers told us they want to buy more local, more Canadian, more sustainable goods,' Swern said. 'They want to know the story behind what they're buying.' To help close the gap between intent and affordability, retailers are stepping up efforts to label Canadian-made items both in-store and online, while producers work to scale operations and bring prices down. The patriotic shift extends to travel, too. A TD tourism report shows 64 percent of Canadians plan to travel within the country this summer, avoiding trips to the U.S. as trade tensions rise. The federal government's Canada Strong Pass, launched earlier this month, is designed to support domestic tourism . It offers free or discounted admission to national parks, museums, and galleries. In Prince Albert National Park, staff are already bracing for a surge in visitors. 'This summer, people want to reconnect with Canada not just as a place, but as a principle,' said visitor services lead Aimee Valmont. But for many Canadians, it comes down to cost.
