Are rising debt and defaults a warning sign of a looming economic crisis?

Amid high tariffs and annexation threats last year, Canadian travellers boycotted New York in droves, a report from the state comptroller indicates. Between 2024 and 2025, almost 3.6 million fewer travellers from Canada and 4.2 million from Mexico visited New York, a decline of more than 21 per cent and 2.2 per cent, respectively. The decline has been “particularly detrimental” to New York border towns, the April 2 report says. Exports to Canada, New York’s largest trading partner, also fell $3.8 billion due to tariffs. “Federal policies are driving foreign travellers away and...