In its mid-year report on mergers and acquisitions, the firm said tariff uncertainty and geopolitical tensions are pushing companies to prioritize domestic acquisitions and supply chains over cross-border expansion. (The Logic)

Talking point: Overall, deal activity remained fairly consistent in the first quarter of 2026 compared to the same period last year. Deal count was virtually the same, while value declined from $97 billion to $64 billion. That’s better than the firm expected, given the global political and economic turmoil, including trade uncertainty between Canada and the U.S. PwC highlighted insurance as a sector to watch, where domestic carriers are acquiring assets from foreign firms reassessing their Canadian operations. The report also highlights opportunities in Canadian energy and agrifood, where oil price volatility and growing concerns about food security are driving investment and consolidation.