World Report November 3: Monday's top stories in 10 minutes
7 snips
Nov 3, 2025 Ottawa's unexpected $3 billion in U.S. counter tariffs raises eyebrows against a predicted $20 million. A 6.3 magnitude earthquake in northern Afghanistan claims at least 20 lives, leaving devastation behind. In a significant political shift, Soraya Martinez Ferrada makes history as Montreal's first Latino and second female mayor. Meanwhile, Tanzania's new president is sworn in under heavy security amidst tensions. As Yukoners head to the polls, concerns grow over an aging population straining Newfoundland and Labrador's healthcare and housing.
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Tariff Windfall Fell Short
- Ottawa collected just over $3 billion from U.S. counter-tariffs, far below the $20 billion forecast during the Liberal campaign. This revenue shortfall narrows policy options as the Carney government prepares its first budget.
Expect Budget Clarity On Tariff Revenue
- Finance Minister François-Philippe Champagne defended tariff removals as supporting Canadian industry despite revenue loss. Expect the finance department to detail collected retaliation revenue in the upcoming budget.
Quake Devastates Northern Afghanistan
- A 6.3 magnitude earthquake near Mazar-e-Sharif killed at least 20 people and left hundreds injured. Power outages and damaged cross-border transmission lines worsened the humanitarian situation.