In this edition:
- Trump threatens tariffs on Canadian lumber, dairy one day after pausing duties
- Government of Canada announces first measures to assist Canadian businesses
- St. Catharines mayor denied access to Washington D.C. conference
- Niagara unemployment rate ticks up to 6.8%
- Pelham to replace Councillor Huson by appointment
- 2024 sees largest drop in alcohol sales ever recorded as cannabis picks up
- Brand loyalty is down, value up among Canadian grocery shoppers
- TWG Motorsports and GM receive formal approval for Cadillac Formula 1™ team
- Focus on Finance & Economy
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Picture credit: Ali Shaker/VOA / Public Domain
Trump threatens tariffs on Canadian lumber, dairy one day after pausing duties on Canada, Mexico
Trump’s 25% across-the-board tariffs on its US neighbours went into effect on Tuesday, March 4. Just two days later, Trump confirmed the US would pause tariffs on goods and services compliant with the United States-Mexico-Canada Agreement (USMCA/CUSMA) until April 2. However, Trump said Friday that he could impose reciprocal tariffs on Canadian lumber and dairy products as soon as today.
Questions about tariffs? Visit the GNCC’s tariff and trade resource page.
Picture credit: hyotographics / Adobe Stock
Government of Canada announces first measures to assist Canadian businesses under tariff threat
Ministers Dominic LeBlanc, Steven MacKinnon, Mary Ng, and Lawrence MacAulay today announced the first steps of new measures to protect Canadian businesses and workers.
The government is launching the Trade Impact Program through Export Development Canada, making $500 million in favourably priced loans available through the Business Development Bank of Canada, and providing $1 billion in new financing through Farm Credit Canada.
Photo credit: Brad Demers / Greater Niagara Chamber of Commerce
St. Catharines mayor denied access to Washington D.C. conference
Two Canadian mayors – St. Catharines Mayor Mat Siscoe and Montreal Mayor Valarie Plante – were denied entry to a conference at the White House this week.
Officials from the U.S. capitol say they didn’t have enough time to process the requests.
Photo credit: Pixel-Shot / Adobe Stock
Niagara unemployment rate ticks up to 6.8%
Niagara’s unemployment rate increased to 6.8% in February 2025, up from 6.5% in January. The participation rate fell from 60.5% to 60.3%, indicating a net shrinkage of the workforce as a proportion of the population.
Nationally, employment was virtually unchanged in February (+1,100; +0.0%) and the employment rate held steady at 61.1%. The unemployment rate was unchanged at 6.6%.
Picture credit: Regional Municipality of Niagara
Pelham to replace Councillor Huson by appointment
The Town of Pelham Council has determined that the vacancy left by the resignation of Councillor Diana Huson will be filled by appointment through a call for applications. Town of Pelham Council will make a recommendation for appointment to Niagara Regional Council, which will confirm the appointment at a meeting of their choosing.
Picture credit: jobi_pro / Adobe Stock
2024 sees largest drop in alcohol sales ever recorded as cannabis picks up
In the fiscal year ending March 31, 2024, Statistics Canada recorded the largest recorded drop in alcohol sales since 1949, when the agency began tracking sales data.
In the same time period, sales of recreational cannabis by provincial cannabis authorities and other retail outlets increased 11.6% or $0.5 billion from one fiscal year earlier, reaching $5.2 billion in 2023/2024.
Picture credit: puhimec / Adobe Stock
Brand loyalty is down, value up among Canadian grocery shoppers
Canadian shoppers are increasingly flocking to grocery stores that offer value, with 9 in 10 actively looking for discounts when shopping, and 75% making purchases based solely on price, not loyalty, according to new data from Dalhousie University and Caddle.
75% also say they’re buying more Canadian-grown or Canadian-produced food as more Canadians seek out made-in-Canada products.
Picture credit: General Motors
TWG Motorsports and GM receive formal approval for Cadillac Formula 1™ team
The Cadillac Formula 1 Team has received final approval to join the pinnacle of motorsport. Backed by TWG Motorsports and General Motors, the team will join the FIA Formula One World Championship grid in March 2026.
Picture credit: Government of Canada
World prepares to celebrate International Women’s Day
March 8 is International Women’s Day (IWD). It’s a global day to recognize and celebrate women’s and girls’ social, economic, cultural, and political achievements. It’s also a time to highlight the progress made in advancing women’s rights and the ongoing efforts needed to ensure their full participation in all aspects of society.
Focus on Finance & Economy
Canada’s job market flatlines in February, ‘solidifying’ expectations of another BoC cut
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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.
