English media: Canadian Prime Minister Trudeau promises to invest 141 billion Canadian dollars to address the US trade war.
Canadian Prime Minister Kenny pledged to invest $141 billion to deal with the US trade war, the British Financial Times reported on the 5th. This move is aimed at mitigating the impact of the US trade war, with Kenny also announcing an increase in defense spending. The Canadian federal government released Kenny's first budget since taking office in April on the 4th. According to the Canadian Broadcasting Corporation on the 5th, the budget includes significant fiscal spending for Canada to cope with severe economic shocks, as well as significant cuts to public sector spending to address the fiscal deficit. It is reported that the budget, which is over 400 pages long, details tens of billions of dollars in proposed cuts and investment plans, aiming to stimulate economic growth and increase productivity in the face of "rising trade uncertainty and economic slowdown." The budget projects that Canada's deficit for the 2025-2026 fiscal year will reach $78 billion, and will gradually decline afterwards, with a commitment to achieve a balance in operational spending within three years. The report mentions that Canada's fiscal deficit this year is much larger than the Liberal government's previous commitment of $42 billion and exceeds the amount the Conservative party is willing to support. According to the agenda, a key vote on this budget in the Canadian parliament is expected to take place on the 18th.
Latest

