Canada

Economics

Politics

Canadian Finance Minister Francois-Philippe Champagne revealed the minority Liberal government's budget for the next fiscal year, which pledges large investments in infrastructure, defense and a variety of targeted measures for both households and industries to offset the negative impacts of U.S. tariffs, CTV News reported on Nov. 4.

Canada: Liberal Government Unveils High-Stakes Budget Powered by Deficit Spending

China

Philippines

Military & Security

The Philippines and Canada signed their status of visiting forces agreement, formalizing troop access and joint military training cooperation, The Philippine Star reported on Nov. 3.

Philippines, Canada: Manila, Ottawa Sign Defense Pact

United States

U.S. President Donald Trump told reporters that he does not want to meet with Canadian Prime Minister Mark Carney at the Asia-Pacific Economic Cooperation summit later this week and said he does not anticipate reviving trade talks with Canada anytime soon, Bloomberg reported on Oct. 25.

U.S., Canada: Trump Rules Out Talks With Carney After Threatening New Tariffs

U.S. President Donald Trump announced in a Truth Social post late on Oct. 23 that he was ending all trade talks with Canada due to a video ad paid for by the province of Ontario and running in U.S. markets featuring former U.S. President Ronald Reagan criticising tariffs.

U.S., Canada: Trump Cancels Trade Talks With Canada Due to Anti-Tariff Ad

Indonesia

Indonesia and Canada signed a Comprehensive Economic Partnership Agreement in Ottawa on Sept. 24 that eliminates or significantly reduces tariffs on over 90% of Indonesian exports to Canada and 95% of Canadian exports to Indonesia, which mostly consist of agricultural products, Bloomberg reported on Sept. 25. 

Indonesia, Canada: Jakarta, Ottawa Ink Trade Deal 

Israel

Palestinian Territories

Australia

United Kingdom

Several Western countries, including Canada, Australia and the United Kingdom, recognized Palestinian statehood on Sept. 21, with France and several others expected to follow suit on Sept. 22, The New York Times reported on Sept. 22.

Israel, Palestinian Territories: Western Countries Recognize Palestinian Statehood

Mexico

Canadian Prime Minister Mark Carney will hold a one-on-one meeting with Mexican President Claudia Sheinbaum and another meeting with Mexican business leaders during a two-day visit to Mexico City, Global News reported on Sept. 18.

Canada, Mexico: Ottawa and Mexico City Seek To Boost Trade and Align Positions Ahead of USMCA Renegotiation

Turkey

South Korea

Europe

France

EU ambassadors discussed whether the bloc’s 150 billion euro ($176 billion) Security Action for Europe (SAFE) loan facility for defense investments and joint procurement could be used to finance arms purchases from the United Kingdom and Canada, with France pushing to cap such purchases at 50% of their value to prioritize EU-based defense manufacturers, Euractiv reported on Sept. 12.

EU: Member States Debate Third-Country Participation in SAFE Defense Joint Procurement Initiative

Snapshots

India

A digital illustration of the Indian and Canadian flags.

Global Trade

India and Canada's efforts to improve relations could see them resume trade talks after a two-year hiatus. But lingering mistrust, particularly over Sikh separatist activity in Canada, may hinder deeper progress.

India and Canada's Diplomatic Reset: Opportunities and Challenges

Assessments

Argentina

Bolivia

Brazil

Paraguay

Uruguay

Venezuela

Lebanon

United Arab Emirates

Japan

Singapore

Vietnam

The Geopolitics of Trade

Mercosur is increasingly opening its markets in pursuit of free trade agreements with partners around the world, particularly as U.S. protectionism shifts global trade dynamics.

The Geopolitics of Trade: What Changing Trade Dynamics Mean for Mercosur

Cambodia

Taiwan

Thailand

A Cambodian soldier stands on a truck with a rocket launcher in Cambodia's Oddar Meanchey province, which borders Thailand, on July 25, 2025. 

U.S.-China Relations

A look at what the coming week will bring -- and a list of recommended RANE articles from the week that was.

The Weekly Rundown: U.S. Tariff Deadline Passes, Thai-Cambodian Border Tensions Persist

A worker positions a robotic underwater vehicle that can be remotely operated to harvest mineral deposits in the deep ocean, after conducting tests in a lake in Collingwood, Ontario, on May 1, 2025.

Environment, Science & Technology

Science & Technology

Recent U.S. actions will likely accelerate commercial seabed mining operations in certain resource-rich waters around the world, despite international regulatory hurdles and ongoing environmental concerns.

Deep-Sea Mining: Opportunities, Risks and the Path to Commercial Extraction

Australian Defense Minister Richard Marles and British Defense Secretary John Healey sit together for the AUKUS Defense Ministers Meeting at Old Royal Naval College on Sept. 26, 2024, in London, England.

Despite growing U.S. skepticism, strong imperatives to counter China's maritime presence will likely lead Washington to see a revised version of the AUKUS defense pact through.

U.S. Review of AUKUS Pillar I Puts Pact on Shaky Ground

Sub-Saharan Africa

Iran

Germany

Italy

Rescue teams work at damaged buildings in Nobonyad Square following Israeli airstrikes on June 13, 2025, in Tehran, Iran. 

Russia-Ukraine Conflict

The Weekly Rundown: G7 Leaders' Summit, More Israeli Attacks on Iran

Ukraine

An image shows a row of flags from the G7 members.

The June 15-17 summit will provide an opportunity for the bloc to discuss trade tensions and the war in Ukraine, but the meeting is more likely to expose transatlantic divisions over Trump's tariffs and reluctance to pressure Russia.

What To Expect From the First G7 Summit Following Trump's Return to the White House

A U.S. courthouse facade with columns in lower Manhattan, New York.

The court ruling nullifies most -- though not all -- of the Trump administration's tariffs, giving U.S. trading partners temporary breathing room in negotiations while the White House searches for alternative trade measures.

The White House's Tariff Ambitions Bend -- But Do Not Break -- Under the Weight of a Court Ruling

Canadian Prime Minister and Liberal Party leader Mark Carney speaks to his supporters in Ottawa, Canada, on April 29, 2025, after winning the country’s early general elections. 

Global Elections

Canada's newly elected Liberal government, led by Prime Minister Mark Carney, is poised to tackle an economic slowdown with tax cuts, domestic industry protection, and closer ties to Europe despite falling just short of a parliamentary majority.

Liberals Win Canada Election, but Minority Government Will Complicate Legislation

Pakistan

Indian soldiers stand guard atop their vehicle in Srinagar, India, on April 23, 2025, following a deadly militant attack on tourists in Indian-administered Kashmir.

U.S.-Iran Relations

The Weekly Rundown: Escalating Pakistan-India Tensions, Canadian Elections and Pope Francis' Funeral

Media

Russia

Forecast Webcast

Join our analysts for this webcast recording exploring key topics identified in RANE's 2025 Second-Quarter Forecast.

2025 Second-Quarter Forecast Webcast

U.S. President Donald Trump delivers remarks on reciprocal tariffs as U.S. Secretary of Commerce Howard Lutnick holds a chart during an event in the Rose Garden entitled ''Make America Wealthy Again'' at the White House in Washington, D.C., on April 2, 2025. 

Trump's sweeping new tariffs will slow both U.S. and global economic growth, with lower-income Americans and emerging markets like Vietnam being hit hardest.

The U.S. Launches the Largest Trade War in Modern History

Located on the North American continent, Canada is the world’s second-largest country. Most of Canada is uninhabited wilderness, and Arctic temperatures make the northern territories inhospitable to large population centers.     Canada became independent from the United Kingdom in 1867. The country is made up of 10 provinces and three territories. A majority of Canada’s 35 million people reside within 100 kilometers of the U.S. border, where the climate and topography support meaningful populations. However this population is spread across a distance of roughly 7,000 kilometers, from the Atlantic to the Pacific oceans. Canada's primary geographic challenge is maintaining unity across its diverse population cores, which include Toronto and Montreal in the Great Lakes watershed; the prairie provinces of Manitoba, Saskatchewan and Alberta; and Vancouver on the Pacific coast.     The economies of these population cores are geared toward external trade as they try to meet demand for their services, manufactured goods and natural resources like oil. Heavy crude oil found largely in the province of Alberta is exported to U.S. and international markets, making Canada the world’s sixth-largest oil producer. Distance and climate are perennial challenges for Canada. The Trans-Canada Railway was Ottawa’s first effort, completed in 1886, to link Montreal, Toronto, the prairies and Vancouver. Redistribution payments, collected from resource-rich provinces and disbursed to resource-poor provinces and territories, is a contemporary policy aimed to unify and equalize provincial and territorial finances.     Because of its location, Canada is well within the U.S. sphere of influence and the country's freedom to act is constrained by U.S. interests.

North America Unrivaled

A Crude Recovery

SITUATION REPORTS

Canada: Liberal Government Unveils High-Stakes Budget Powered by Deficit Spending

Philippines, Canada: Manila, Ottawa Sign Defense Pact

U.S., Canada: Trump Rules Out Talks With Carney After Threatening New Tariffs

U.S., Canada: Trump Cancels Trade Talks With Canada Due to Anti-Tariff Ad

Indonesia, Canada: Jakarta, Ottawa Ink Trade Deal

Israel, Palestinian Territories: Western Countries Recognize Palestinian Statehood

Canada, Mexico: Ottawa and Mexico City Seek To Boost Trade and Align Positions Ahead of USMCA Renegotiation

EU: Member States Debate Third-Country Participation in SAFE Defense Joint Procurement Initiative

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