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#215 - 7110, 12
VOL 25 - ISSUE 26
SATURDAY, AUGUST 9, 2025
Canada's economy is showing 'resilience' against USA's tariffs, says Bank of Canada "Some resilience" — those were the two words Bank of Canada governor Tiff Macklem used last week to describe how the Canadian economy is holding up under the weight of U.S. tariffs. Just a few days later, U.S. President Donald Trump added 35 per cent tariffs on Canadian goods to a running tally that includes hefty duties on steel, aluminum, automobiles and, more recently, semi-finished copper. With tariffs piling up over the past few months, economists say Canada's economy is starting to show cracks — but few signs of collapse. TD Bank economist Marc Ercolao conceded it's a "bit of surprise" to see the economy holding up against a massive disruption from
Canada's largest trading partner. "Many months ago, ourselves — as well as other economic forecasters — had an outlook for a much weaker Canadian economy. Obviously, that isn't manifesting now," he said in an interview. "We are avoiding the worst-case scenario." What are tariffs doing to the economy? On Thursday, Statistics Canada gave a glimpse at how the economy wrapped up the second quarter of the year when many of those tariffs came into full effect. While the agency sees a couple of small contractions in real gross domestic product by industry in April and May, its flash estimates show the economy rebounding somewhat in June. Continued on Page 6...
The big fat 'fake' Indian wedding Gen Z's latest party trend
What comes to mind when you think of a big fat Indian wedding? Dazzling lights, glittering outfits, Bollywood hits, a lavish spread of food and an atmosphere soaked in celebration. Everything feels extravagant, emotional and larger than life. Now imagine all of that without the bride and groom. No pheras (a Hindu marriage ritual where the couple takes seven rounds around a sacred fire), no relatives, no tearful farewells. Just the party. Welcome to the world of fake weddings - a rising trend in Indian cities where people gather to enjoy the wedding party, minus the actual marriage. These ticketed events, organised by hotels, clubs and companies, are designed purely for fun and promise to offer the full experience of a wedding party without any stress, rituals or responsibilities. Simply put, it's a wedding-themed party night. Continued on Page 7...
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People fleeing BC in huge numbers for Alberta and Ontario
British Columbia is losing residents to Alberta and other provinces due in large part to housing unaffordability, says the Business Council of B.C. Nearly 70,000 West Coast residents left the province for other parts of Canada over the past year, according to a July 28 analysis by the business advocacy group. Outflows have resulted in net interprovincial migration turning sharply negative, said the BCBC analysis. Continued on Page 10...
BC debt grows 50 per cent in two years to $134b despite lower-than-expected deficit British Columbia is weighed down by rapidly growing debt despite a lower-than-forecasted deficit for 2024, something that Finance Minister Brenda Bailey said the government is working hard to address. But Bailey said the province needs to grow its revenue in addition to finding efficiencies in spending, a challenge in the economic uncertainty driven largely by tariffs imposed by the United States. With that backdrop, Bailey said current debt levels are necessary in the shorter-term to fund infrastructure such as hospitals, schools and transportation networks while the province
works toward a longer-term solution. “Yes, we are experiencing increased debt,” Bailey said Thursday during the release of B.C.’s public accounts for 2024-2025. Continued on Page 7... www.gabaautodetaling.com
Trump orders India tariff hike to 50% for buying Russian oil US President Donald Trump has issued an executive order hitting India with an additional 25% tariff over its purchases of Russian oil.
That will raise the total tariff on Indian imports to the United States to 50% - among the highest rates imposed by the US. The new rate will come into effect in 21 days, so on 27 August, according to the executive order. A response from India's foreign ministry on Wednesday said Delhi had already made clear its stance on imports from Russia, and reiterated that the tariff is "unfair, unjustified and unreasonable". Continued on Page 10...