U.S. economy BOOMS as Canada falls behind

The U.S. and Canadian economies are moving in sharply different directions.

New U.S. data shows the American economy grew at a blistering 4.3% in the third quarter, far exceeding expectations. Consumer spending surged and private-sector job growth remained strong, even as government payrolls declined — a combination economists credit for driving the expansion.

Canada, by contrast, is contracting.

Statistics Canada reports the economy shrank 0.3% in October, the largest monthly decline in nearly three years, driven by weakness in manufacturing and rising costs. Grocery prices remain elevated, and Canada’s per-capita economic growth since 2016 now ranks among the worst in the G7.

The widening gap comes as trade tensions with the U.S. remain unresolved. Senator John Kennedy urged Prime Minister Mark Carney to eliminate tariffs on American goods and challenge Washington to do the same — arguing that zero tariffs would immediately end the dispute.

Ottawa has shown no willingness to budge. The Carney government has ruled out changes to supply management, including dairy protections, and signalled it will not repeal Canada’s online-streaming regulations — both key U.S. demands ahead of 2026 trade negotiations.

With the U.S. economy accelerating and Canada sliding toward stagnation, many fear Ottawa is heading into high-stakes trade talks from a position of growing weakness.
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