Canada and China strike trade deal easing tariffs on EVs and farm goods, boosting economic recovery.

Prime Minister Mark Carney’s Budget 2025, with over $280 billion in investments, presents a chance to drive systemic change, according to Arti Freeman of the Definity Foundation. She urges Canada to move beyond traditional spending by fostering shared-risk spaces for innovation in housing, clean energy, and worker ownership, integrating non-profit leaders early in policy design, and simplifying public-private funding partnerships. The budget’s $51 billion for community infrastructure could help rebuild and reimagine systems. Meanwhile, Carney’s recent China visit led to a deal allowing 49,000 Chinese electric vehicles into Canada at a 6.1% tariff, while China lifted retaliatory tariffs on Canadian canola, pork, and seafood, boosting agriculture and signaling a shift toward pragmatic trade over ideological alignment.