Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.
U.S. House votes to end some of Trump’s tariffs on Canada Open this photo in gallery:
Canadian and American flags fly on the Canadian side of the Ambassador Bridge in Windsor, Ont.GEOFF ROBINS/AFP/Getty Images
The U.S. House of Representatives voted this week to end some of President Donald Trump’s tariffs on Canada. A handful of Republican legislators sided with the Democratic opposition to pass the measure. The 219-to-211 vote – in which six Republicans broke with Mr. Trump – is mostly symbolic. As Adrian Morrow reports, even if it passes the Senate, the President will almost certainly veto it, a move that would require a two-thirds majority of each chamber of Congress to override.
The resolution, led by Representative Gregory Meeks, a New York Democrat, repeals Mr. Trump’s invocation in February 2025 of the International Emergency Economic Powers Act to impose tariffs on Canada. He put tariffs of 35 per cent on all Canadian goods not traded under the U.S.-Mexico-Canada Agreement, except for oil, gas and potash, which are tariffed at 10 per cent. The resolution does not cover Mr. Trump’s sectoral tariffs on steel, aluminum, autos and other industry-specific products.
Trump threatens to block opening of Canada-U.S. bridge Open this photo in gallery:
The Gordie Howe International Bridge under construction to link Detroit and Windsor in a drone image taken from Windsor, Ont., on Tuesday.Dax Melmer/Reuters
Mr. Trump is also threatening to block the opening of the Gordie Howe International Bridge, a new border crossing between Windsor, Ont. and Detroit, Michigan, unless Ottawa meets a list of demands and gives Washington half ownership of the structure. In a Truth Social post Monday, the U.S. President repeated a long-standing grievance against Canada − that it’s “treated the United States very unfairly for decades” − and expressed anger over the bridge’s ownership structure. The $6.4-billion bridge was funded by the Canadian government, but will be publicly owned by the governments of Canada and Michigan, Steven Chase reports.
Prime Minister Mark Carney had a call with Mr. Trump after the threat, saying he had a positive conversation and played down tensions over the bridge. “We discussed the bridge. I explained that Canada, of course, paid for the construction of the bridge,” he said. He also said he pointed out that the bridge’s ownership is shared between the State of Michigan and the Canadian government, and that the construction involved Canadian and American workers and used steel sourced from both countries.
Decoder: Alberta imports of U.S. alcohol are back, but who’s drinking it?
Some provinces have kept their restrictions on American beer, wine and spirits throughout the U.S. trade war. The province with the largest ban has been Ontario, where imports have cratered by 95 per cent since the U.S. imposed tariffs on Canada (Meanwhile, Crown Royal will remain on Ontario liquor store shelves).
It’s a different story in Alberta, however, which lifted a similar ban last June. Since then, U.S. alcohol imports there have fully rebounded. The demand for U.S. bourbon has surged back and there appears to be a booming interprovincial flow of alcohol from Alberta online retailers to residents in Ontario. Jason Kirby takes a look in the latest instalment of the Decoder series.
CEO news: CAAT puts Derek Dobson on leave; Telus names Victor Dodig as new chief execOpen this photo in gallery:
Board chair Don Smith was recently suspended from his position on the board of trustees at the CAAT Pension Plan by the union that appointed him, sources say.Merle Robillard/The Globe and Mail
The CAAT Pension Plan placed chief executive officer Derek Dobson on administrative leave after some of the plan’s top executives raised concerns about his conduct as well as oversight by the board of trustees. The $23-billion pension plan has also installed an acting CEO – Kevin Fahey, who was promoted to chief investment officer in late January – and appointed a new chair and vice-chair to its board of trustees. Previous board chair Don Smith was removed from his role earlier this month, days after The Globe and Mail reported that concerns about board oversight and decision-making had spurred investigations into the plan’s governance.
In other Canadian executive news, Telus Corp. T-T named Victor Dodig – the former Canadian Imperial Bank of Commerce chief executive – as its new CEO. He has replaced retiring CEO Darren Entwistle in a change of leadership that has surprised Bay Street. Irene Galea, Andrew Willis, James Bradshaw and Tim Kiladze report on how the unexpected CEO change came about.
Collapse of Ontario real estate firm leaves investors looking for answersOpen this photo in gallery:
Scott Reid, former president of Reid’s Heritage Properties. The prominent Guelph developer is accused by his former investors of misappropriating nearly $100-million.photo illustration The Globe and Mail/ Source: Andrew Long/The Globe and Mail
When an Ontario real estate firm declared bankruptcy, it left behind hundreds of creditors who allege they were deliberately deceived. The collapse of Reid’s Heritage Properties left 182 creditors owed a combined $94.3-million, and pushed some investors into financial ruin. One woman, a 65-year-old widow, said she was forced out of retirement because of her losses. Another said she was reduced to living in a garage. Others said they had to sell their homes as a result.
Many of those investors pooled their savings to become limited partners in president Scott Reid’s rental property projects, which were scattered around Ontario and the United States. It was a profitable arrangement that provided them with reliable interest payments every month – until, suddenly, the money stopped coming. Greg Mercer reports on Mr. Reid’s stunning downfall and the investors looking for answers.
Darren Entwistle, the long-time chief executive officer of Telus, surprised markets this week when he announced he will retire on June 30. He will be replaced by Victor Dodig. What was Mr. Dodig’s previous job?
a. Chief executive officer of Shopify
b. Chief executive officer of Bank of Montreal
c. Chief executive officer of Rogers Communications
d. Chief executive officer of Canadian Imperial Bank of Commerce
d. Mr. Dodig served as president and CEO of CIBC from 2014 to 2025.
Get the rest of the questions from the weekly business and investing news quiz here, and prepare for the week ahead with The Globe’s investing calendar.