Mexico is bargaining with Washington over auto tariffs while Canada’s formal talks sit stalled. Refusing a bad deal in August was defensible, but staying away is handing the next one to someone else.
Mexico is still negotiating with Washington ahead of the 2027 CUSMA review. Canada has held no formal talks since Aug. 21, and every month away lets a U.S.-Mexico deal shape the terms Ottawa will face.
Canada’s goods surplus with the United States jumped by a record amount in August as exporters rushed shipments ahead of 50 per cent tariffs. That is borrowed demand, and the Bank should look through it on Oct. 28.
Ottawa and Alberta will split the majority stake in a pipeline that has no construction financing in place. The case for public equity is real, but taxpayers need a financing plan, signed shippers, and an exit.
Inflation is 3 per cent and the policy rate 2.25 per cent, so real rates are below zero. A quarter-point rise on Oct. 28 is right unless September’s inflation data show oil’s spillover fading.
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