Tariff Shock to Canada-U.S. Trade: U.S. President Donald Trump moved to impose 50% tariffs on about US$20B of Canadian goods, targeting autos, alcohol and dairy under Section 338, with Canada’s PM Mark Carney saying Ottawa will intensify talks with Washington and keep options open as the measures are set to take effect Aug. 19. Energy Mega-Projects in B.C.: B.C. is poised for another wave of energy spending, with plans for LNG Canada Phase 2, the Prince Rupert Gas Transmission Line and a second Trans Mountain expansion that would add new Roberts Bank terminal capacity. Defence Industrial Push: Canada will buy 190 more General Dynamics Land Systems-Canada armoured combat support vehicles in a C$2B, four-year deal, lifting the fleet to 550 and reinforcing the government’s defence industrial strategy. Housing Finance Update: Reverse mortgage rates fell about 0.25% at major lenders even as regular mortgage rates rose, driven by lender competition rather than the Bank of Canada. Interprovincial Alcohol Access: Ontario and other provinces signed a Canada-wide direct-to-consumer alcohol sales agreement to reduce internal trade barriers and expand market access for producers. Banking & Consumer Protection: OBSI released its 2026 independent evaluation, calling its operations well managed and issuing 26 recommendations, including proposals to strengthen decision authority and raise compensation limits.