We are getting through our communications with clients regarding TFSA and RESP contributions for 2025 and will start looking at RRSP contributions in the next while as well. I always remind everyone: these are “elective” options. We can't do them on your behalf without authorization or notification. Prior to making any tax-advantaged investments, we make sure that for each of you, this makes sense.

 

As a follow-up to last week, I thought this was interesting: if we combine both the imports and exports in the U.S. over the past two years, Mexico has become the largest exporter of goods to the U.S., sending merchandise worth roughly $480 billion in 2023. What that means is that America buys more goods from Mexico than anyone else. China, which was the top exporter during Trump’s first term, has fallen from providing some 21% of the nation’s imported goods in 2018 to around 13% now. When looking at exports, Canada buys more goods from the US than any other country. Perhaps this reality has given pause on what was supposed to be “tariffs on day 1”!

 

In the next week or two, I will talk about the other part of the dynamic of our intertwined economies, which is “services”. Yes, even TikTok is a service, and apparently not going to be banned…

 

I always like this time of the year. My crystal ball for tennis hasn’t been very good, but I resolve to be better in 2025. Of course, it’s the first of the Tennis Grand Slams in Australia. So for this week's sports prediction, I’m calling an upset on the women’s side, with Madison Keys winning. On the men’s side, Federer and Nadal are both retired, and Djokovic had to pull out with an injury. It’s the next generation, and Jannik Sinner is going to win down under (just don’t put a lot down on these please!)

 

Have a great weekend.