Canadian consumer debt reached a record $2.56 trillion by the end of 2024, with Ontario residents facing difficulties meeting payments, experiencing a 90.2% increase in mortgage delinquency rates. Despite high unemployment rates, Windsor area residents are faring better due to lower housing prices. However, Windsorites are accumulating non-mortgage debt on auto loans, credit cards, and lines of credit, showcasing a growing financial divide in the country.
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Trump to double steel and aluminum tariffs on Canada: White House press secretary
U.S. President Donald Trump is set to sign an order on May 6, 2025, to double tariffs on steel and aluminum imports from Canada, raising them from 25% to 50%. This move, aimed at bolstering U.S. industries and protecting jobs, has prompted Canadian officials, including Trade Minister Dominic LeBlanc and Finance Minister François-Philippe Champagne, to explore new markets and increase domestic steel usage. The Canadian steel and aluminum sector, heavily reliant on U.S. exports, faces...
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