In recent months, global economic uncertainty has weighed heavily on national economies, and Canada’s is no exception. A combination of international political shifts and long-standing domestic challenges has led to a slowdown in Canada’s economic activity. Our PwC Canada Economics and Policy practice’s current baseline projection for the remainder of 2025 calls for Canadian gross domestic product (GDP) growth to remain well below 1%. The current climate of uncertainty has led many purchasers of Canadian businesses to adopt a cautious stance, delaying investments and expansion plans. In the period from January 1 to May 31, 2025, there were 996 deals announced in Canada with a total value of $134 billion. In that same period, we saw declines in inbound and locally sourced deals in Canada, while acquisitions of companies outside of Canada by Canadian companies increased. Despite broader economic challenges, Canada’s trade position with the United States is currently significantly better than those of many other countries.