Canada’s trade war with the US has intensified, and tech leaders say we need to hold fast and make deliberate choices now that the stakes are raised.
The news: On Saturday, the US imposed sweeping, 50-percent tariffs on everything from aluminum to dairy and electronics, and Canada has responded with dollar-for-dollar retaliatory measures. It’s the latest escalation of the 19-month trade war between the two nations after talks collapsed. As CFIB and the Canadian Chamber of Commerce have noted, the impacts won’t be “abstract,” and businesses will likely feel them immediately.
From the source: Prime Minister Mark Carney told Canadians, “We can’t control the storm that blows in from Washington.” Instead, he said Canada can build stronger trade relationships with, and court greater investment from, other countries. CVCA CEO Benjamin Bergen aims to help with the latter at an investor gathering coinciding with Carney’s summit next month. Bergen told BetaKit that Canada would also do well to mobilize domestic capital and retain entrepreneurs by quickly launching its VGCCI fund-of-funds and aligning its taxation approach with the US QSBS regime.
The context: As BetaKit has reported, tech was not the primary target, but “digital trade alignment”—a front where Canada conceded in the initial CUSMA—was mentioned shortly before these latest negotiations broke down. Canadian Shield Institute managing director Vass Bednar told BetaKit Canada needs to stay strong and avoid making the same types of concessions if it hopes to stay “sovereign in any sense that matters.”
The Canada Fintech Forum returns to Montréal on September 14-15, 2026.
Join financial institutions, fintechs, investors, regulators, and innovators for two days of networking, industry insights, and strategic discussions. Explore the trends shaping the future of financial services, discover new business opportunities, and build meaningful connections with the leaders driving Canada’s fintech ecosystem forward.
Latest news across tech
Meta settles
Meta has agreed to make sweeping changes to Facebook and Instagram as part of a nearly $18-billion USD settlement for its social media addiction lawsuit. The settlement will profoundly change how the apps work for youth, including an option for a non-algorithmic feed, usage limits, hidden likes, and limiting “extreme makeup filters.” Now, if only they’d stop the ability to doomscroll for the rest of us.
Sorry, how much?
As Anthropic gears up to go public, the AI developer is expected to tell investors its potential revenue opportunities exceed $30 trillion (yes, with a t), according to The Wall Street Journal. The forecast rockets past SpaceX, which just held the largest IPO in history on a $28.5 trillion revenue estimate.
Is the AI race opening up?
This week, Toronto-based Thomson Reuters unveiled its first AI model Thomson-1, built on top of Alibaba’s Qwen3.5. Like Harvey and Cursor, Thomson Reuters is the latest to turn to an open-source Chinese model, as companies seek lower-cost alternatives to US heavyweights like Claude.
Big tech opens its wallet
OpenRouter to Stripe, Cursor to SpaceX; it’s starting to feel like startups are getting drafted to the big leagues via acquisitions. The Information breaks down how cheap capital and the current political environment have big tech suddenly lining up for startup bidding wars.
AI op-eds
US billionaire Stanley Druckenmiller said he writes “everything” using AI, including a recent op-ed for The Wall Street Journal. The publication stood behind the decision to publish the editorial, which has sparked debate over the value of AI-assisted writing. Is it worth the read if it wasn’t worth the write?
Sponsored stories
What Quantum Week’s keynote lineup says about the tech in 2026
IEEE Quantum Week is coming to Toronto from Sep 13-18, bringing together global leaders from computing, academia, and government to highlight how quantum science is converging with technologies such as GenAI to drive practical commercial applications.
On the move
This week’s hires, fires, and exec shakeups:
- Casetext co-founder Pablo Arredondo joined BC-based legaltech Clio to lead its expansion into the judiciary market, reported LawSites.
- Ottawa-based data platform Solace appointed former Qlik CEO Mike Capone to its board of directors.
- Montréal-based VC Amiral Ventures added former Aptum CEO Ian Rae as a founding investor.
- Vancouver-based Integrated Quantum Technologies has appointed former HSBC global engineering head Husam Fezzani as CEO.
- Fifty-four percent of Canadians are reconsidering their educational or career plans because of AI, according to a survey by Ten Thousand Coffees.
- Reuters detailed how Meta’s plans to cut some of its teams by up to 60 percent in a push to become AI-native plummeted employee morale.
- The Trump administration has proposed more visa restrictions, deterring international AI talent from building companies in the US, reports Rest of World.
Want to feature a hiring announcement on our list? Email partnerships@betakit.com with the subject line JOBS.
ALL IN 2026: Help shape the future of AI & tech
Join 7,500 leaders, decision-makers, tech providers, researchers, and startups at ALL IN on Sept. 16-17.
Discover real-world AI applications, forge global partnerships, and help drive the future of Canada’s economy.
#1. What’s the hot new term for someone who sends through outputs straight from Claude or ChatGPT without first analyzing them?
Your score:
Quiz answer: d) A meat proxy. Niklas Gruhn, a German software engineer, popularized the term earlier this month to criticize those who don’t vet or add value to AI outputs, according to Business Insider.
Quiz answer: d) A meat proxy. Niklas Gruhn, a German software engineer, popularized the term earlier this month to criticize those who don’t vet or add value to AI outputs, according to Business Insider.
Contributors: Alex Riehl (Ottawa staff writer), Josh Scott (Toronto reporter), Douglas Soltys (editor-in-chief), Sarah Rieger (managing editor), Trevor Nichols (web editor).
Feature image courtesy Mark Carney via X.