Kansas businesses hit by Trump's trade war are wooing Canadian customers
Juliet Abdel is meeting with federal and provincial officials, Canadian mayors and officials with the Canadian Pacific Kansas City rail network.
She says Trump's tariffs and Canada's retaliatory tariffs threaten her region's economy.
A man walks past the Kansas Statehouse in Topeka, Kan., June 17, 2024. THE CANADIAN PRESS/Evert Nelson/The Topeka Capital-Journal via AP
Abdel says about 20 per cent of the local workforce relies on international trade and that Kansas trades billions of dollars worth of goods and services with Canada every year.
The state is linked to Canada through agriculture, chemicals, and auto and aerospace manufacturing.
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Abdel says she also wants to find ways to reduce the backlash in her region caused by Canadian consumers shunning American-made goods and avoiding travel south of the border.
This report by The Canadian Press was first published May 20, 2025.
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The Province
38 minutes ago
- The Province
Across the country, B.C. has the wealthiest households on average
FP Wealth Report: Here's a breakdown of how household wealth is distributed and which provinces are in the lead Canadian household wealth surged to a new collective high of $17.6 trillion in the first quarter of 2025, according to data from Statistics Canada. Photo by Gigi Suhanic/Financial Post Canadian household wealth surged to a new collective high of $17.6 trillion in the first quarter of 2025, according to data from Statistics Canada. But this growth isn't distributed evenly across the board, with some provinces racing ahead of others thanks to a combination of factors such as migration, housing affordability and the job market. Other regions are grappling with cost-of-living pressures and high debt, most keenly felt by its youngest and lowest-income residents. The Financial Post's Serah Louis breaks down how household wealth is distributed across the country — and which provinces are in the lead. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors B.C. households were worth $1.26 million on average, a slight advantage over Ontario households, which were worth $1.22 million on average in the first quarter of 2025. However, Ontario households saw their wealth grow 2.69 per cent year-over-year (comparable to the rest of Canada, at 2.82 per cent), while those in B.C. represented a mere 0.56 per cent increase. Overall, the average Canadian household was worth about $1.03 million, bolstered by higher wealth figures from the two provinces. Maria Solovieva, an economist at Toronto-Dominion Bank, noted that while some provinces may boast higher household wealth figures on average, this also means they are less likely to see any significant increases in these numbers. This advertisement has not loaded yet, but your article continues below. She said B.C. likely had the smallest uptick in household wealth due to slower income growth, higher interest rates and affordability challenges. Across the country, Ontario and B.C. households had the highest debt-to-income ratios, as they struggle to afford the higher cost-of-living in these provinces, particularly in large urban centres such as Toronto and Vancouver. James Gauthier, a senior economic analyst for the national economic accounts division at Statistics Canada, said this is exacerbated by higher mortgage debt. 'More expensive housing markets means that their average mortgage debt will be higher relative to other jurisdictions.' In Ontario, the average household mortgage liability amounted to $167,620, while in B.C., this was $162,890, the highest of all the provinces. Essential reading for hockey fans who eat, sleep, Canucks, repeat. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. In the Prairies, households were reducing their debt-to-income ratios at a much faster pace, in part due to income gains and an inflow of migrants who are more likely to rent upon arrival, Gauthier said. Quebec tied with Saskatchewan in wealth gains In the first quarter of 2025, Quebec households saw their net worth increase 4.16 per cent to $788,508 on average — the highest year-over-year per cent growth in household wealth. Randall Bartlett, chief economist at Desjardins Group, said the Quebec labour market has outperformed the rest of the country by a wide margin, in part due to its demographics. Quebec's population skews older, which means there is more demand for younger people in the workforce. The Government of Canada's latest job market snapshot for Quebec in June showed a 0.5 per cent gain in jobs compared with the previous month, mainly driven by younger Canadians aged under 25 and the 25-34 age group. This advertisement has not loaded yet, but your article continues below. Saskatchewan households were just slightly behind in wealth gains, at 4.15 per cent, hitting $885,350 per household. Alberta households were next, with their average net worth climbing 3.76 per cent to reach $978,790 per household. Gauthier said there has been a massive inflow of people migrating to the Prairies, either from other countries or through interprovincial migration. 'It seems to be because the oil and gas sector has been expanding, and so (the job market has) been a draw for those households,' he said. '(And) the housing markets (in the Prairies) tend to be less expensive there relative to Ontario and B.C.' A May report from the Royal Bank of Canada (RBC) revealed the Prairie provinces drove over a third of the national growth in 2024, buoyed by 'continued in-migration and solid commodity markets' (with the exception of Manitoba). This advertisement has not loaded yet, but your article continues below. Bartlett said earnings growth from employment and a more affordable housing market is driving higher savings and therefore wealth increases in Alberta and Saskatchewan. 'As long as energy prices continue to cooperate and we see more investment in the energy sector in Western Canada, we could see those trends continue, and wealth … disproportionately accumulate in (these provinces).' Quebec sees highest growth in financial assets, ballooning by 7.15% Growth in financial assets largely contributed to net worth gains across the country; as much as 7.15 per cent for households in Quebec (to $550,930 on average). Albertan households saw their financial assets grow just over seven per cent to $694,335 on average. This advertisement has not loaded yet, but your article continues below. Bartlett said while this could be attributed to investor portfolios, it is also likely people in these provinces have more money left over from their everyday expenses to invest, thanks to their relatively lower cost-of-living. Quebec is one of the lowest income-producing provinces. Still, households in the province tend to spend much less on goods and services ($65,344) compared with the national average ($76,750), according to Statistics Canada's latest survey of household spending for 2023. Tom Kemeny, associate professor at the Munk School of Global Affairs and Public Policy, said the two biggest drivers of wealth come from business equity and real estate. 'In places where there is an industrial structure that gives rise to high wages and, correspondingly, significant demand for workers to move to those places to seek opportunity, some proportion of those high incomes turns into wealth,' said Kemeny. This advertisement has not loaded yet, but your article continues below. 'Either through investment in real estate, investment in business equity, or, to some extent, savings and so it absolutely makes sense that we're going to see high net worth in those places.' Here's what the average value of financial assets looked like in each province in the first quarter of 2025. Canada: $639,623, +6.66% Newfoundland and Labrador: $517,484, +5.55% Prince Edward Island: $458,802, +4.49% Nova Scotia, $486,809, +4.01% New Brunswick: $379,544, +4.49% Quebec: $550,930, +7.15% Ontario: $719,535, +6.93% Manitoba: $584,282, +5.77% Saskatchewan: $694,426, +6.33% Alberta: $694,335, +7.05% British Columbia, $628,706, +5.37% Real estate holdings under pressure with the biggest drop in PEI The biggest declines in real estate holdings in the second quarter were in Prince Edward Island (three per cent to $329,115 on average), Newfoundland and Labrador (2.98 per cent to $239,862 on average) and British Columbia (2.79 per cent to $774,649 on average). This advertisement has not loaded yet, but your article continues below. Across Canada, real estate holdings dipped by an average 1.44 per cent to $513,887 per household in the second quarter of 2025 compared with the same period last year, slightly dragging net worth growth down (though this was offset by the steady rise of financial assets). Kemeny said this is due to the slump in real estate values. According to the Canadian Real Estate Association (CREA), national home sales plunged 20 per cent year-over-year in March 2025 following declines in the previous three months as well. The average sale price was down 3.7 per cent, backed by softening prices in British Columbia and Ontario in particular. In British Columbia, where the average real estate holding is $774,649 (the highest nationally), Gauthier said this likely comes down to affordability pressures: Few people can afford to purchase a home in an expensive province. This advertisement has not loaded yet, but your article continues below. But in the two Atlantic provinces, the Statistics Canada data does not mirror what other real estate organizations are reporting. CREA said residential real estate prices demonstrated solid growth in both provinces in March year-over-year, with Newfoundland and Labrador showing the biggest increase in both average sale price and sale activity. In Quebec, real estate holdings slipped by just 0.28 per cent — the smallest year-over-year change compared to the rest of the provinces — to $318,465 per household. Bartlett noted the Quebec real estate market has been a top performer this year, especially as home prices in Ontario and British Columbia have sagged, making real estate holdings a key driver of wealth for many households in this province. This advertisement has not loaded yet, but your article continues below. According to a recent report from Royal LePage, the median price of a single-family detached home in Quebec rose seven per cent in the second quarter of 2025, compared with last year. Quebec City home prices surged by 13.5 per cent, the strongest growth across the country. Here's what the average real estate contribution to household wealth looked like in each province in the first quarter of 2025. Canada: $513,887, -1.44% Newfoundland and Labrador: $239,862, -2.98% Prince Edward Island: $329,115, -3.00% Nova Scotia: $267,580, -1.70% New Brunswick: $194,958, -0.92% Quebec: $318,465, -0.28% Ontario: $665,258, -1.26% Manitoba: $281,301, -1.81% Saskatchewan: $267,673, -2.60% Alberta: $407,810, -2.37% British Columbia: $774,649, -2.79% This advertisement has not loaded yet, but your article continues below. While younger Canadians under 35 in most provinces increased their wealth at the slowest pace nationally (0.5 per cent). Ontario, B.C. and the Atlantic region had it the worst with average household wealth in this group actually declining. The biggest decline was in the Atlantic region, with average household wealth dropping 1.51 per cent to $208,442, compared with the national average of $414,175. Sébastien Breau, an economic geographer and associate professor at McGill University, said younger Canadians just leaving university and entering the labour market are grappling with immense uncertainty, preventing them from building wealth. Some are struggling to find jobs and others are holding off on purchasing property due to affordability reasons. This advertisement has not loaded yet, but your article continues below. 'Prices relative to incomes, especially for young folks, are really, really high,' said Kemeny. 'There are these really durable challenges for young people trying to get into the housing market, which is the way that you build wealth if you are not already fantastically wealthy.' In fact, the Statistics Canada data showed Canadians under 35 were the only group that has consistently reduced their mortgage debt since the end of 2022 — likely due to rising interest rates and housing cost pressures, the agency said. The sole exception to slower wealth gains for younger Canadians was in the Prairies, where the under-35 crowd grew their household net worth by 4.14 per cent, a higher percent increase than the 45 to 54 and 55 to 64 age groups. This advertisement has not loaded yet, but your article continues below. But this isn't entirely surprising, given the higher migration rates, positive job market and lower cost-of-living in Alberta and Saskatchewan. On the other hand, across all provinces, Canadians aged 65 and older saw the biggest year-over-year increase in household wealth, at an average 4.64 per cent nationally. Bartlett said older Canadians are more likely to have accumulated wealth over the years and have benefited from compounding interest from their investments. Lowest-income groups in the Atlantic provinces saw wealth plunge the most Across the country, households in the lowest income quintile experienced a net worth decline of nearly eight per cent to $503,745 per household. 'Wealth is very highly concentrated in Canada, so those bottom quintiles don't have a lot of wealth (to begin with),' said Kemeny. He said it is likely 'this is more about sensitivity to turbulence in the economy (and) less about … the stock market and the housing market.' This advertisement has not loaded yet, but your article continues below. Statistics Canada noted lower-income households tend to be more susceptible to job loss during economic downturns. This loss in wealth was especially exacerbated in the Prairies and Atlantic provinces. Households in the lowest income quintile in the Prairies saw their wealth plunge 13.14 per cent to $489,570 and those in the Maritimes saw a drop of 11.56 per cent to $352,452 on average. Average household wealth for the lowest income quintile was the lowest across the country in the Atlantic provinces. Statistics Canada also reported that the lowest income households' wages fell in the first quarter of 2025, with Nova Scotia representing the lowest compensation of employees across the country when averaged per household. Read More • Email: slouis@ Vancouver Canucks Sports Golf News Vancouver Canucks
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
Asian shares mostly slip as focus shifts to US talks with China
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National Post
an hour ago
- National Post
North Korea rejects U.S. goal to resume denuclearization talks, as Pyogyang and Moscow strengthen ties
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