Global Scans · Canada · Weekly Summary

WHAT'S NEXT?: The U.S. and Canada's new governments will have their work cut out dealing with potential changes to their trade agreements while simultaneously Canada will be anxious to implement CETA with the EU.

• [New] HIMARS will give Canada the missile capabilities needed to meet its NATO obligations, including fielding a front-line multinational combat brigade in Latvia. The Watch
• [New] As commercial insurance rates soften across most lines, Canadian organizations with strong risk profiles are positioned to recapture coverage and strengthen their programs. HUB International
• [New] Construction of the first phase of the rail line is set to kick off in 2029 or 2030, linking Montreal and Ottawa in an effective test case for what would be a massive infrastructure project intended to transform rail travel in Canada's most densely populated region. Canada's National Observer
• [New] Canada's largest manufacturing employer, the food and beverage industry, is facing a debilitating labour shortage that threatens to cripple Canada's food system as we know it. SenCanada
• [New] After three years of annual contractions, the Canadian automotive sector is forecast to return to growth, with output expected to expand by 1.2% in 2026. atradius
• [New] Canada risks ending up with best-in-class legislation and worst-in-class enforcement. The Hill Times
• [New] Canadian businesses are watching with a mix of anxiety and hope. Apparel Textile Sourcing
• [New] As per the World Customs Organization, cross-border trade facilitation initiatives prioritize technology adoption to reduce clearance times while maintaining security controls, creating funding opportunities for e-gate deployments. / Canada Market Data Forecast
• [New] A continued structural push toward targeted draws based on the broader Canada immigration levels plan framework. Get In Canada
• [New] Environment and Climate Change Canada (ECCC) issued a yellow heat warning for the Montreal area, predicting a high of 32 C and a humidex up to 43. Montreal Gazette
• [New] Canada's exclusion from formal talks could create an uneven playing field. ArentFox Schiff
• [New] VIA Rail Canada aims to continue reducing greenhouse gas emissions by 30% by 2030. Scenic Train Vacations and Packages | Vacations By Rail
• [New] Canada will continue to prioritise investments in the Arctic as part of its ongoing work to strengthen collective defence, defend transatlantic security, and protect the values that unite us. Prime Minister of Canada
• [New] An approximately $800 million contract with Norwegian company Kongsberg Defence and Aerospace to procure Joint Strike Missiles, a type of long-range missile, which will be integrated into future fighter aircraft for the Royal Canadian Air Force. Prime Minister of Canada
• [New] An agreement-in-principle with Telesat for ESCP-P to utilise Telesat Lightspeed to provide sovereign, reliable, and continuous military satellite communications in the Arctic - expected to result in a multi-billion-dollar investment in Canada's defence sector. Prime Minister of Canada
• [New] Canada is on a clear path to meet NATO's target of investing 5% of GDP in defence by 2035. Prime Minister of Canada
• [New] The Canadian Mortgage and Housing Corporation has begun to consider climate risks as part of their wider risk management strategy. Climate X
• [New] Investments in refining and processing capacity, together with greater government engagement on later-stage mining projects, suggest Canada's industrial strategy is beginning to evolve from announcing opportunities toward enabling them. Ivey Business School
• [New] In 2026, the European Allies and Canada are once again expected to increase their defence budgets to a total of around 634 bn USD, representing 2.53% of their total GDP. International Centre for Defence and Security

Last updated: 22 July 2026