Losing, Losing, Losing 👎

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Trade talks are back, with all eyes on the upcoming mandatory review of the Canada-U.S.-Mexico Agreement (aka CUSMA). Canada’s new ambassador to the U.S. just made his first address to parliamentarians, while Prime Minister Mark Carney dropped the names of his new advisory committee on Canada-U.S. economic relations, including political heavyweights like former Quebec Premier Jean Charest and former Conservative leader Erin O’Toole. But we’re still missing one key detail: there’s no official start date for the CUSMA review. And Canada’s chief trade negotiator says the July 1 deadline is more of a checkpoint than a finish line — translation: don’t expect a deal by then. Meanwhile, PM Carney is laying out Canada’s trade irritants with the U.S., while Conservative leader Pierre Poilievre says the PM has been “losing, losing, losing” on tariffs and trade. P.S. In the middle of all this, find out why PM Carney takes inspo from Sir Isaac Brock, a British soldier known as the “Hero of Upper Canada” during the War of 1812.

The Liberals tabled their spring economic statement yesterday, exactly one year after the federal election that kept them in power. Think of the economic update as a mini budget, a snapshot of where Canada’s finances are at right now. Since the fall budget dropped in November, global tensions — including the U.S. and Israel’s war with Iran — have shaken the global economy and pushed oil prices even higher. Ahead of the update, Finance Minister François-Phillippe Champagne summed it up bluntly: “volatility is omnipresent”. And the day before the update, PM Carney announced plans to create Canada’s first sovereign wealth fund, aka the Canada Strong Fund. What’s a sovereign wealth fund? It’s a state-owned (but independently managed) investment fund that uses government surplus reserves to invest in assets like stocks and bonds. The fund will begin with an initial endowment of $25 billion, Carney says, and Canadians will be able to contribute to and benefit from the fund.

Log Off: To Manitoba, which could become the first province in Canada to ban social media for youth and AI chatbots. Premier Wab Kinew announced the move on the weekend, saying “we are going to take action on things that are really harming our kids.” Key details are still TBD, including the age limit and how a province would regulate international platforms.

Jet Set: To Ontario, where Premier Doug Ford’s decision to buy a $28.9-million pre-owned private jet for government use led to significant backlash. Critics called it “out of touch” and dubbed the jet a gravy plane. The fallout led the premier’s office to sell the plane, apparently for the same price it was bought for. Jet set, then regret.

Tick Tock: To Alberta, which is ready to break up with time changes — just like B.C. did last month. A new bill would lock the province into permanent daylight time, starting in November. Now the Northwest Territories says it will follow Alberta and no longer change its clocks, and Manitoba is considering whether to do the same.

If you’re playing catch-up on all the news this week, these podcasts have you covered. Canadaland digs into why grocery bills keep climbing, and whether fixes like tax rebates or government-run supermarkets actually solve anything. Front Burner looks at how rights and reconciliation are clashing in B.C., in a story that mixes resource extraction, democracy, political flip-flops and some serious values testing. And the Decibel breaks down how unmanned vehicles like robotics and drones are reshaping modern warfare, from battlefields in Ukraine to the Strait of Hormuz. The big question: can Canada’s military, gov and businesses keep up?

And now it’s time for dessert...your weekly crossword! A little hint for you: make sure you review last week’s edition to complete the crossword:

THIS WEEK'S CROSSWORD

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