Canada's finance minister stated that the government plans to fund new major spending initiatives through increased deficits and economic growth, reiterating the country's strong G7 fiscal position.

Canada's finance minister, François-Philippe Champagne, is in China to diversify trading partners and strengthen the economy. This visit follows a previous one by Prime Minister Mark Carney, aiming to navigate trade relations amidst global economic shifts.

The comments come after US President Donald Trump said he wants global tariffs to replace income taxes as America's main revenue source.

Canada's Finance Minister François-Philippe Champagne presented the spring economic update, highlighting the government's fiscal discipline. However, Conservative Leader Pierre Poilievre remained critical of the deficit figures.

Canada's Finance Minister is reportedly planning a visit to China, following the Prime Minister's trip, to enhance complementary trade ties between the two nations.

The comments come after US President Donald Trump said he wants global tariffs to replace income taxes as America's main revenue source.

Canada's Finance Minister, François-Philippe Champagne, stated that his visit to China included discussions on human rights, emphasizing that bilateral trade must adhere to international standards.

A baseline tariff may be the "price" Canada has to pay to continue shipping goods to the US, Canada's finance minister said.