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Respondents represented Australia, Canada, the UK, and the US.

Travel demand into the US could also falter as tariffs trigger economic boycotts from consumers in Canada and elsewhere, which will hurt everyone from airlines and hotels to restaurants and retailers. This content is part of 蘑菇AV鈥檚 subscription Briefings, where we pair daily updates with data and analysis from forecasts and research reports.

FAQ: US-Canada Trade War (蘑菇AV subscription required). Note: Data was provided to 蘑菇AV by IAB.

What this means for Canada鈥檚 banks: As TD Bank鈥檚 biggest competitors expand across Canada and internationally鈥攊ncluding in the US鈥攖he bank鈥檚 restrictions and shrinking US presence could hinder it for years to come. This serves as a reminder of why banking compliance matters as much as any other business and growth strategy.

OpenAI鈥檚 ChatGPT Plus is free for US and Canadian college students until May鈥�31,鈥�2025. Getting younger generations into AI early: AI competitors are emulating Google鈥檚 Chromebook strategy in which it made its Chrome OS hardware and tools accessible to K-12 students as a long-term bid to win loyalty and expand future market share.

The company鈥檚 divestiture of its Canada yogurt business also shaved 1% off net sales. Adjusted per-share profit fell 15% in constant currency to $1.00, though it still beat analyst estimates of 96 cents. Given the challenging landscape, General Mills lowered its full-year organic sales forecast and now expects a decline of 1.5% to 2%, down from its prior view of flat to 1% growth.

This was a day after President Donald Trump levied tariffs on China, Canada, and Mexico. The 25% US tariffs on Canada and Mexico were put on hold pending negotiations, but the 10% tariff on all Chinese products took effect Tuesday. Another day, another Google probe: The company has its hands full with its search and ads divisions facing antitrust investigations in the US and the UK.

The service will roll out nationwide in the US beginning in May, when its exclusivity agreement with Uber ends, and will debut in Canada later this year. The opportunity: The deal is part of Domino鈥檚 strategy to boost sales from aggregator channels to $1 billion by 2026.

Declines were driven by the loss of major clients; WPP recently lost Coca-Cola鈥檚 US and Canada media business to Publicis Groupe. The loss worsened investor confidence in WPP鈥檚 stock, which declined to a four-year low. And despite plans to invest 拢300 million ($383 million) in AI offerings this year, WPP鈥檚 AI strategy hasn鈥檛 had a substantial impact on revenues so far.

Trump鈥檚 initial round of tariffs singled out Mexico, Canada, and China, California鈥檚 three largest trading partners. Over 40% of imports to the state originated from those countries last year, and the three nations took in over one-third of California鈥檚 exports.

A 10% tariff on Chinese goods has already taken effect and proposed 25% tariffs on Canadian and Mexican imports鈥攃urrently paused for 30 days鈥攚ould add an additional $3,342 to annual expenses for a family of four, according to an analysis by James Knightley, chief international economist at ING.

Overall, AI optimism is growing, with some divides: 83% of people in China think AI services and products are more beneficial than harmful, compared with 40% of Canadians and 39% of people in the US. Varying impact: Adoption is growing, though returns are modest and differ across applications.

Cross-border concerns: Banks with operations near Canada are wary of potential disruptions to cross-border ties and economic relationships, and how the strained relationships could impact the local economy. Over the next few years, community bankers expect:.

The news: Some Wall Street analysts were shocked that President Trump imposed tariffs on Canadian, Mexican, and Chinese goods, per Fortune. But Deutsche Bank鈥檚 head of macro research Jim Reid says they 鈥渟hould have seen it coming.鈥�.

The president鈥檚 latest promise to go through with Mexico and Canada tariffs, slap an additional 10% levy on Chinese imports, and introduce reciprocal tariffs in April will only heighten the unpredictability companies face.

ARPU increased 5% globally, with stronger gains of 17% in Europe and 29% in developing markets, even as US and Canada growth remained more modest at 8%. Why it matters: Pinterest鈥檚 Q1 numbers suggest its efforts to become a more shopping-centric, AI-enhanced platform are bearing fruit鈥攑articularly overseas.

Short-term solutions: While the Trump administration鈥檚 trade policies aim to push companies toward onshoring, moving production to the US鈥攐r even nearshoring to Canada or Mexico鈥攊s often slow and costly. In the near term, companies are exploring faster, less labor-intensive options:.

Merck CEO Rob Davis estimated $200 million in added costs for existing tariffs鈥攎ostly via China, but also Canada and Mexico trade. Roche is mitigating tariff effects for the year by moving inventories and increasing US manufacturing, CEO Thomas Schinnicker said. It鈥檚 also negotiating for tariff exemptions directly with the Trump administration, arguing its US exports offset its imports, per Reuters.

Our take: Bank of America鈥檚 and Citi鈥檚 earnings were steady in Q1 despite the larger uncertain economic environment that started in March with President Donald Trump鈥檚 threatened tariffs on Canada and Mexico. But both issuers agree that these results may not repeat themselves in the coming quarters.

All three companies also have extensive manufacturing bases in North America, although that advantage has been wiped out by US tariffs on Canadian and Mexican imports, not to mention 25% levies on imported car parts, steel, and aluminum. Those costs have already resulted in a sizable blow to Volkswagen鈥檚 Q1 profits, which were 鈧�1.2 billion ($1.3 billion) lower than expected.

How we got here: Trump鈥檚 shifting trade policies, including tariff hikes on China, Canada, and Mexico, have created market instability. Meanwhile, signs of economic weakness are emerging, such as increasing layoffs, slowing hiring, and eroding consumer confidence. What does this mean for banking customers? Many consumers are panicking:.

For example, Affirm expanded its tie-up with Shopify in the UK and Canada, and Klarna partnered with Worldpay, JPMorgan Payments, and Adobe Commerce. Both firms have also partnered with Apple Pay and Google Pay. But individual partnerships are still important if BNPL players want to reach larger merchants like Stitch Fix.

Canadian Tire agreed to sell outdoor-and-workwear brand Helly Hansen to Kontoor Brands, which owns the Wrangler and Lee brands. Zooming in: After former FTC chair Lina Khan successfully blocked their merger, Tapestry and Capri are adjusting their portfolios to focus on core brands.

Streaming music, podcasts, and radio apps have changed the complexion of audio listenership in Canada. Over the past decade, digital audio has grown to a level that now rivals the traditionally strong radio listener base.