(Bloomberg) -- Canada’s population fell by 0.2% in the third quarter to stand at 41.6 million, marking the only quarterly decline on record outside the Covid-19 era and a dramatic shift from explosive post-pandemic immigration growth.

NEW: I interviewed Canada fentanyl czar Kevin Brosseau * Canada looking to work with China to stop precursors * "There's very little north-south movement of produced fentanyl" across borders * Is he aware of a target that would end the fentanyl emergency used by Trump to justify tariffs? "I'm not"

*ANGLO AMERICAN, TECK RECEIVE CANADA APPROVAL FOR MERGER

Taylor Swift not touring in Toronto this year helped keep Canada's November inflation number lower www.bloomberg.com/news/article...

Carney one seat short of majority after second Tory jumps:

Whoa, we have a floor crossing! Conservative MP Michael Ma is joining the Liberals. He’s in the Markham-Unionville seat, in the Toronto suburbs

Regional breakdown in new Leger poll on support for a new bitumen pipeline running from Alberta to BC coast

If Mark Wiseman does get appointed as Canada's next US ambassador (which we've reported is likely), Carney will take some heat from Quebec on supply management, given USCMA talks are looming. Wiseman slammed supply management in a Globe op-ed last year: www.theglobeandmail.com/business/com...:

(Bloomberg) -- US Trade Representative Jamieson Greer says USMCA review upcoming in 2026 could lead to revisions or an end to the three-nation pact, but it’s too early to say how it will end up.

(Bloomberg) -- The Bank of Canada held interest rates steady and said although the economy appears to be more resilient than previously thought, keeping borrowing costs at their current level is still appropriate to mitigate the trade war damage.

NEW: Canada's US ambassador Kirsten Hillman is stepping down in the new year, and Mark Wiseman is likely to replace her, Bloomberg sources say. Story link to follow.

(Bloomberg) — The Canadian economy added 53,600 jobs in November, making it the third consecutive month of surprisingly strong job gains as US tariffs otherwise slow down activity. www.bloomberg.com/news/article...

The BC Conservative leader has been declared "professionally incapacitated" by his caucus

(Bloomberg) -- President Donald Trump is unveiling his administration’s plan to relax stringent Biden-era fuel efficiency standards, with the administration casting the change as a way to lower consumer costs. www.bloomberg.com/news/article...

But I think this is also self-inflicted. There was no big press conference when TMX opened, no ribbon-cutting ceremony. I don't think there was even a rote statement issued from the PMO. As far as I can tell it was a conscious political decision to avoid putting a spotlight on it.

The Jets are unwatchable. I need baseball back

(Bloomberg) -- Canadian steelmaker Algoma Steel Group Inc. will let go of 1,000 employees and close its blast furnace in northern Ontario within months as it seeks to stem losses resulting from US tariffs. www.bloomberg.com/news/article...

(Bloomberg) -- Costco joined a fast-growing list of businesses suing the Trump administration to ensure eligibility for refunds if the US Supreme Court strikes down the president’s signature global tariffs policy. www.bloomberg.com/news/article...

Canada will likely only try to sell the Trans Mountain pipeline after it completes a few projects to boost its capacity, Tim Hodgson tells Bloomberg. The tolls dispute likely also won't be settled for another year. www.bloomberg.com/news/article...

Our new Canada Daily newsletter will bring you the latest on business, the economy and politics from our five bureaus across the country. 🇨🇦 Subscribe now so you don't miss our first edition: bloom.bg/4rjmVqY

Mark Carney is weighing a trip to Washington next week for the World Cup draw. But trade talks with the US remain frozen, and there's an emerging belief on both sides that they may not pick up again until next year's broader review of the USMCA. www.bloomberg.com/news/article...

Very big scoop from colleagues: BHP, the world's biggest mining company, has made a new takeover approach for Anglo American Quite a twist as Anglo is trying to acquire Canada's Teck Resources

Okay folks. The budget vote is starting. This is the moment. This is what we all train for.

The budget vote is scheduled for 6:45pm tonight. Mark Carney's Liberals now need either two abstentions or one other opposition vote in favour to pass the budget and avoid a potential snap election

Elizabeth May says she'll vote yes on the budget tonight

Canada Infrastructure Bank confirms our report that they are loaning money towards the North Coast Transmission Line. Carney's press conference on major projects is in about half an hour

New: Prime Minister Mark Carney will name a major electricity transmission line in British Columbia to his list of nation-building projects eligible to be fast-tracked, according to people familiar with the matter From @brianplatt.bsky.social and me:

Read the Epstein emails alleging Trump knew of his activities

The federal budget contains this comically vague paragraph that, as far as I can tell, effectively promises the oil and gas emissions cap will be scrapped

Canada's deficit is pegged at C$78.3 billion for the fiscal year that ends in March, representing 2.5% of gross domestic product. That’s roughly in line with the median estimate in a Bloomberg survey of economists via @brianplatt.bsky.social @erikhertzberg.bsky.social in Ottawa

(Bloomberg) -- Canada is set to rack up larger deficits under Mark Carney, who used his first budget as prime minister to inject tens of billions of dollars into defense, housing and major projects intended to help the country increase exports to overseas markets. Deficit this year: $78.3 billion

That was an amazing Jays season. A roster filled with guys who could not be easier to root for. They deserved better. Let’s get it next year

This is just an unbelievable World Series. Everything that can happen has happened

Mark Carney confirmed he apologized to Trump for the Ontario TV ad. "It's not something I would've done...So I apologized to him. I'm the one who is responsible, in my role as prime minister, for the relationship with the president of the United States."

Mark Carney after his meeting with Chinese President Xi: "This meeting today is long overdue...We now have a turning point in the relationship, a turning point that creates opportunities for Cdn families, for Cdn businesses and Cdn workers, and also creates a path to address current issues."

(Bloomberg) -- US President Donald Trump said he had an “amazing meeting” with Chinese President Xi Jinping and would reduce fentanyl tariffs from 20% to 10% effective immediately.

In other news: Carney confirmed he plans to meet with Chinese President Xi Jinping later this week at the APEC summit in Korea. www.bloomberg.com/news/article...

Trump today, when asked about meeting Carney at APEC: “I don’t want to meet with him. No, I’m not going to be meeting with them for a while. I’m very happy with the deal we have right now with Canada. We’re going to let it ride.” www.bloomberg.com/news/article...

Mark Carney, speaking before the start of a lengthy trip to Asia, said Canada can’t control US trade policy but is ready to negotiate any time. Said for now, he is focused on seeking new partnerships overseas and preparing the federal budget.

A delayed reaction from vacation in Europe, where I turned my phone off and watched the game this morning: WOW!!

Unfortunate inning, but the Jays could also try scoring some runs on this middling starter on short rest

They win the series with a classic 2025 Jays game: - No homers but hardly any strikeouts - The stars play well, depth guys come up huge - Bullpen shaky at times but gets it done - Solid defence, offence capitalizes on a brutal error Yes!!

(Bloomberg) — President Donald Trump said he expects the US and Canada can eventually reach a trade deal, but he remained vague about how and when an agreement might be achieved. www.bloomberg.com/news/article...

(Bloomberg) -- Prime Minister Mark Carney plans to change when Canada releases major fiscal documents, moving the country’s federal budget to the fall on an ongoing basis.

Just announced: Mark Carney will meet with Donald Trump in Washington on Tuesday for a "working visit." It's their third in-person meeting, after they met in June at G7 summit and in May at White House.

Alberta announces it will spearhead an effort to build a new oil pipeline to the Pacific coast by applying to Prime Minister Mark Carney's new Major Projects Office

I’m ready for October baseball

That’ll do, Kirky

Canada’s population growth has stalled for two quarters now, after massive increases in the post-Covid years