#economic-policy

The Canadian government has enacted the most significant overhaul of the Competition Act in decades, aiming to curb corporate concentration and alleviate cost-of-living pressures. The amendments grant the Competition Bureau enhanced powers to investigate anti-competitive practices, block mergers that harm consumers, and tackle issues like drip pricing and restrictive property controls in the grocery sector. Driven by public frustration over soaring prices in key industries like groceries and telecommunications, these reforms represent a fundamental shift in Canada's approach to market regulation, prioritizing consumer welfare and small business opportunities.

Leaders of the Group of Seven (G7) nations, including Canadian Prime Minister Justin Trudeau, have issued a stern and unified warning to China, urging it to cease support for Russia's war effort in Ukraine and to address its unfair trade practices. The joint communiqué from the summit in Italy condemned Beijing for transferring dual-use materials and components that are enabling Russia to rebuild its defense industrial base. The G7 also voiced serious concerns over China's industrial overcapacity, particularly in green technologies, which they argue undermines fair competition and threatens their economies.

The Government of Canada has unveiled a comprehensive $2.4 billion national strategy aimed at cementing the country's position as a global leader in artificial intelligence. The multi-faceted plan focuses on three core pillars: accelerating AI adoption across the economy, enhancing domestic research and talent, and establishing robust governance frameworks for responsible AI development. The funding will bolster Canada's computing infrastructure, support businesses in integrating AI technologies, and create a new AI Safety Institute to address potential risks, ensuring that innovation is balanced with public trust and security.

The Government of Canada has unveiled a landmark $2.4 billion national AI strategy aimed at cementing the country's position as a global leader in artificial intelligence. The multi-year plan focuses on three core pillars: accelerating commercialization and adoption of AI by Canadian businesses, strengthening national security through advanced cybersecurity measures, and establishing a clear regulatory framework for responsible AI development. The initiative seeks to create high-skilled jobs, boost economic productivity, and ensure public trust in emerging technologies, positioning Canada to compete and collaborate on the international stage.

Leaders of the Group of Seven (G7) nations, including Canadian Prime Minister Justin Trudeau, have issued a unified and stern warning to China, condemning its support for Russia's defense industry and its non-market economic policies. The joint communiqué from the summit in Italy calls on Beijing to cease transferring dual-use materials that are fueling the war in Ukraine. The G7 also committed to combating what it calls China's unfair trade practices, particularly industrial overcapacity in sectors like electric vehicles, which poses a significant threat to global economic stability and Canadian industries.

The federal government has announced a comprehensive National Semiconductor Strategy aimed at strengthening Canada's domestic chip manufacturing capabilities and securing its place in the global technology ecosystem. The multi-year plan focuses on strategic investments in research, commercialization, and talent development, with a particular emphasis on compound semiconductors and chips essential for artificial intelligence. This initiative is a direct response to recent global supply chain disruptions and escalating geopolitical tensions, positioning Canada to enhance its economic sovereignty and support critical sectors like automotive, healthcare, and telecommunications.

The federal government has unveiled the 'Silicon Shield Canada' initiative, a $5 billion strategic investment aimed at developing a domestic semiconductor design and manufacturing ecosystem. The five-year plan seeks to reduce Canada's reliance on volatile foreign supply chains for microchips, which are critical for everything from automobiles to healthcare technology. The funding will support the construction of new fabrication plants, expand research and development in advanced chip design, and create talent development programs to build a skilled workforce, positioning Canada as a secure and competitive player in the global semiconductor industry.