In this edition:
- Doug Ford suspends electricity export surcharge in response to trade meeting
- What you need to know about steel and aluminum tariffs as Trump doubles rate
- Bank of Canada to announce key interest changes tomorrow
- Loblaw introducing ‘T’ symbol to indicate products in crosshairs of trade war
- Shopping in the U.S.? What Canadians should know about the new 25% surtax
- Port Colborne will construct 128 homes with $4.3M of federal funding
- Final renderings revealed for federal government’s Housing Design Catalogue
- New registration requirements impact Canadians. Here’s what you should know
- Challenges, opportunities for Niagara’s tourism sector amid trade tensions
- 7.2% of Niagara Region infrastructure in ‘high-risk’ condition
- Niagara-on-the-Lake settles with developer, tribunal green-lights Mary St. condos
- Focus on Finance & Economy
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Picture credit: Joey Coleman / CC BY 2.0
Doug Ford suspends electricity export surcharge in response to trade meeting
Premier Doug Ford has agreed to suspend Ontario’s 25 per cent subsidy on electricity exports following a discussion with U.S. Secretary of Commerce Howard Lutnick.
Hours earlier U.S. President Donald Trump vowed to double steel and aluminum tariffs on Canada in response to Ontario’s new electricity export surcharge, warning he will soon “declare a national emergency on electricity.”
“If other egregious, long time Tariffs are not likewise dropped by Canada, I will substantially increase, on April 2nd, the Tariffs on Cars coming into the U.S. which will, essentially, permanently shut down the automobile manufacturing business in Canada.” the president wrote in a subsequent post before launching into another rant about how Canada should be the 51st U.S. state.
Photo credit: romaset / Adobe Stock
What you need to know about steel and aluminum tariffs as Trump doubles rate to 50%
A fresh wave of tariffs are set to kick in Wednesday, marking the latest escalation in the U.S.-Canada trade war.
While industries that rely on steel and aluminum products had been bracing for 25 per cent levies on those products entering the U.S. from Canada, President Donald Trump said Tuesday he would double the rate to 50 per cent.
Bank of Canada Governor Tiff Macklem | Photo credit: Bank of Canada / CC BY 2.0
Bank of Canada to announce key interest changes tomorrow
A much anticipated Bank of Canada interest rate announcement is coming tomorrow (March 12), which helps shape the interest on mortgage and loan payments.
At the last announcement on Jan. 29, a minor reduction was granted on the overnight key lending rate, bringing it down to 3 per cent.
Photo credit: JHVEPhoto / Adobe Stock
Loblaw introducing ‘T’ symbol to indicate products in crosshairs of trade war
Canada’s largest grocer is advising shoppers that some food prices are going up – again – and that they should blame tariffs, not retailers.
Loblaw Cos. Ltd. has created a new symbol – a “T” inside a black triangle – that it is preparing to tack on to the shelf prices in its stores to denote products affected by tariffs.
Picture credit: Wlodzimierz / Adobe Stock
Shopping in the U.S.? What Canadians should know about the new 25% surtax
Click here to read more.
Port Colborne Mayor Bill Steele (left) and Niagara Centre M.P. Vance Badawey | Picture credit: City of Port Colborne / supplied
Port Colborne will construct 128 homes with $4.3M of federal funding
Today, the Government of Canada and the City of Port Colborne announced that they reached an agreement to accelerate the construction of 128 homes over the next three years.
This agreement, under the second round of the HAF, will provide over $4.3 million in funding.
Picture credit: CMHC
Final renderings revealed for federal government’s Housing Design Catalogue
Final renderings, floorplan layouts and key building details have now been unveiled as part of the Housing Design Catalogue, an initiative under the federal government’s housing plan.
It features some 50 standardized housing designs for rowhouses, fourplexes, sixplexes and accessory dwelling units.
Picture credit: Alexandre Rotenberg / Adobe Stock
New registration requirements impact Canadians — including many snowbirds. Here’s what you should know
Some Canadians entering the U.S. will need to abide by new reporting requirements. The U.S. government says all non-citizens 14 years of age or older, with a few limited exceptions, who were not fingerprinted or registered when applying for a U.S. visa and who remain in the United States for 30 days or longer, must apply for registration and fingerprinting.
Photo credit: Niagara Parks Commission
Challenges, opportunities for Niagara’s tourism sector amid trade tensions
With the busy tourism season just ahead, Niagara officials are looking at potential tariff challenges but also opportunities that could drive more visitors to the region.
“It depends in terms of how the tariffs are implemented, depending on what we’re buying,” said David Adames, Niagara Parks chief executive officer.
Photo credit: Regional Municipality of Niagara
7.2% of Niagara Region infrastructure in ‘high-risk’ condition
Councillors began Niagara Region’s 2026 budget process with another sobering reminder about the costs associated with deteriorating infrastructure.
A report rated about 7.2 per cent of the Region’s assets as being in the “very high risk” category. As well, another $3.3 billion of assets are in poor to very poor condition.
Picture credit: NPG Planning Solutions
Niagara-on-the-Lake settles with developer, tribunal green-lights proposed Mary St. condos
The Ontario Land Tribunal has given a developer the green light to move forward with a 41-unit condo development at 223 and 227 Mary St. in Niagara-on-the-Lake, after the town decided to settle the developer’s challenge — in order to steer clear of the legal costs.
Focus on Finance & Economy
At a crossroads: What’s next for Canada’s economy
U.S. tariffs on Canadian exports threaten free trade and economic growth — so Canada must act now, says the Greater Niagara Chamber of Commerce.
“We’re vulnerable,” said CEO Mishka Balsom.
U.S. President Donald Trump imposed a 25 per cent tariff on Canadian goods on March 4, which prompted Canada to introduce retaliatory tariffs on the same day. Additional U.S. tariffs remain uncertain. In a March 5 media release, the chamber encouraged Canada to prioritize interprovincial trade, starting with provincial governments removing trade barriers.
Trade standards need to be aligned, inspections streamlined and rules standardized, to cut red tape, lower costs and improve efficiency and competitiveness, the chamber said. Balsom said Niagara-on-the-Lake residents can help.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
