Money Archives - Ratesheet.ca

Trump Is Like a Toxic Partner Your Therapist Told You to Stay Away From, And Canada Is Stuck in the Relationship

Vikas Palan — Tue, 11 Mar 2025 15:44:40 +0000

Anyone who’s ever been in a toxic relationship knows the cycle, love-bombing, manipulation, gaslighting, and chaos, all wrapped up in a power struggle that leaves one party constantly on edge. In 2025, with Trump pushing for a second term and reigniting economic battles, Canada finds itself once again in the position of the exhausted partner […]

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Will a U.S. Recession Cause a Recession in Canada?

Vikas Palan — Mon, 10 Mar 2025 20:49:48 +0000

The United States and Canada have one of the closest economic relationships in the world. Given this deep connection, when the U.S. economy experiences a downturn, many Canadians wonder: Will Canada go into a recession too? While a U.S. recession doesn’t guarantee that Canada will also enter one, the risks are significantly high due to […]

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Bank of Canada Warns: Trade War Threatens Canada’s Economic Stability

Vikas Palan — Tue, 25 Feb 2025 20:45:40 +0000

Governor Tiff Macklem cautions that a trade war with the U.S. could erase Canada's economic growth and cause lasting structural damage, leading to a permanent reduction in national output.

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The Impact of U.S. Tariffs on Canadian Cities: A Detailed Analysis

Vikas Palan — Tue, 18 Feb 2025 22:42:48 +0000

The U.S. tariffs on Canadian exports could disrupt key industries, impacting cities reliant on cross-border trade. From energy hubs to auto manufacturing centers, Canada faces economic challenges that demand swift policy responses and trade diversification strategies.

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Trump’s Critique of Canadian Banking: The Question of Barriers to Entry

Vikas Palan — Tue, 11 Feb 2025 15:45:10 +0000

In recent years, former U.S. President Donald Trump has criticized the Canadian banking sector for maintaining what he describes as steep barriers to entry. From his perspective, these obstacles make it difficult for new and foreign players to penetrate the market, thereby limiting competition and choice for consumers. At the heart of the matter is […]

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President Donald Trump Imposes 25% Tariffs on Steel and Aluminum

Vikas Palan — Mon, 10 Feb 2025 23:41:27 +0000

President Donald Trump announced on Monday that he will apply a 25% tariff on every steel and aluminum import coming into the United States, without granting any exceptions or exemptions. Despite the fact that the US sources most of its steel from Canada, Brazil, and Mexico, the move is primarily, though indirectly, intended to target […]

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Understanding Canada’s Interprovincial Trade Barriers

Vikas Palan — Thu, 06 Feb 2025 13:03:57 +0000

Interprovincial trade barriers in Canada refer to restrictions and regulations that prevent the free flow of goods, services, and labor across provincial and territorial borders. These barriers arise due to varying provincial policies, licensing requirements, and protectionist measures. While Canada has a free trade agreement in place with other countries, its internal trade restrictions continue […]

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Canada’s Economic Crisis: A Practical Solution for Affordable Housing and Business Growth

Vikas Palan — Tue, 21 Jan 2025 22:48:55 +0000

The Bank of Canada (BoC) raised interest rates to control inflation and curb rising real estate prices, aiming to make housing more affordable for the next generation. While raising interest rates has successfully brought inflation to the BoC’s target, new policies are urgently needed to support economic growth. However, with the current strategy, the dream […]

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Ontario Sales Tax

Vikas Palan — Wed, 11 Sep 2024 19:26:41 +0000

The Harmonized Sales Tax (HST) in Ontario is 13%. The Harmonized Sales Tax (HST) is applied to most goods and services in Ontario, although there are certain categories that are exempt or eligible for rebates. These exceptions help reduce the overall tax burden on specific items. What is the HST? Ontario implemented the HST on […]

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