There was a sharp decline in the share of Canadians buying U.S. homes in Q1 2025 as the Trump administration's trade disputes took hold.

Canada and the U.S. are unlikely to reach a trade deal at the G-7 summit that ends Tuesday, according to officials. Trade was the main topic of discussion when Canadian Prime Minister Mark Carney met with President Trump on Monday morning.

U.S. President Donald Trump on Tuesday said Japan was being "tough" in trade talks and the European Union had not yet offered what he considered a fair deal, as a team led by Treasury Secretary Scott Bessent stayed at the G7 meeting in Canada to keep working on trade issues after Trump's abrupt early departure.

President Trump kicked off three days of meetings in Canada, saying 'our primary focus will be trade,' but with minimal evidence of progress to offer on long-promised deals.

While the UK is an important trading partner for Canada, it represents only a small share of Canada's exports. In 2024, the UK represented 3.6% of exports and 1.2% of imports for the country, according to the Conference Board of Canada. Exports to the UK are mainly dominated by gold and energy products.

Sir Keir Starmer flies to Canada later to meet Mark Carney, the former governor of the Bank of England who became his country's prime minister in March. The two men will get together in the Canadian capital Ottawa on Saturday evening,

Canada is preparing to host the G7 summit. Prime Minister Mark Carney aims to reshape Canada's global image. Discussions will include trade tensions, new alliances, and Canada's role in a changing world.

As the G7 group of large democratic nations with big economies meets Sunday in Alberta, Canada they have a broad agenda in the midst of global economic and military turmoil.