There were 522 purchases of Canadian firms in the first quarter of 2025, the lowest number in nine years and an 18 per cent drop compared to the same period last year, according to LSEG data. (The Logic)

Talking point: U.S. President Donald Trump took office in January on a platform of raising tariffs on trading partners, and immediately targeted Canada with 25 per cent tariffs going into effect March 4 on most goods the administration considers non-compliant with its existing free trade agreement. Since the U.S. is Canada’s biggest trading partner, that poses a major threat to Canadian businesses, potentially making them less attractive targets. While the number of Canadian acquisitions was down, total value rose to US$46 billion, 120 per cent higher than last year, led by Abu Dhabi National Oil Company and Austria’s OMV’s US$13.4 billion purchase of Nova Chemicals.