Voyageur 43
News for residents of the “11th province”: Canadians abroad.
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Canada Sends Its Biggest-Ever Trade Mission to Mexico
More than 370 Canadian delegates and 200 businesses are in Mexico this week for the largest Canadian trade mission the country has ever sent south. Trade Minister Dominic LeBlanc is leading the group through Mexico City, Monterrey, and Guadalajara, and he's not being subtle about the goal.
Canada-Mexico trade hit $56 billion in 2024 - a twelvefold increase since NAFTA started in 1995 - but Mexico still accounts for only 1.1% of Canadian exports(!?). That gap is the whole point. Economy Minister Marcelo Ebrard said the two countries are building a joint economic action plan, expected in the second half of this year, covering minerals, ports, infrastructure, and supply chain security.
LeBlanc said he plans to return to Mexico at the end of March to finalize deals. PM Carney's stated goal is to double non-US exports within the decade, and Mexico - with 133 million people, a growing middle class, and shared free-trade agreements - is the obvious starting point.
Read more: CBC News / Mexico News Daily
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Canadian Home Sales Fell 5.8% in January (Blame the Snowstorm)
The Canadian Real Estate Association said home sales dropped 5.8% in January compared to December, with the national average price dipping 2.6% year-over-year to $652,941. CREA's explanation is refreshingly simple - a massive snowstorm buried central and southwestern Ontario around the third week of January, and people couldn't get to the end of their driveways for a week, let alone go house hunting.
Outside the storm zone, the numbers were roughly on track. Canada had 4.9 months of housing inventory at the end of January, almost exactly at the long-term average of five months. The Bank of Canada's rate has sat at 2.25% since October with no cut in sight, and CREA's senior economist said first-time buyers still face an affordability wall.
CREA isn't changing its 2026 forecast over one snowy month. "Unless we get another two-foot snowstorm in the most populated part of Canada, our forecast is for things to improve," said senior economist Shaun Cathcart.
Read more: CBC News