Ottawa drops TikTok ban, will now let platform stay in Canada with conditions
BNN Bloomberg
Ottawa says it will allow TikTok to continue operating in Canada now that it has more security guarantees from the social media company to protect Canadians’ data.
The federal government banned TikTok from operating and maintaining a physical presence in Canada in 2024. Ottawa recently asked the Federal Court to set aside that order to permit another review.
Privacy and safety concerns have been raised about TikTok and its China-based parent company ByteDance Ltd. because of Chinese national security laws that compel organizations in that country to assist with intelligence gathering.
The decision to set aside the shutdown order came shortly after Prime Minister Mark Carney visited China and secured a deal to get Beijing to lower agricultural tariffs in exchange for new market access for Chinese electric vehicles.
Industry Minister Melanie Joly said Monday in a media statement the decision to let TikTok remain in Canada hinges on several conditions, aligned with a similar approach taken by the European Union.
The decision followed “a thorough assessment of the information and evidence gathered during the review process, including advice from Canada’s security and intelligence community” and other government partners, Joly said.
Oil prices are down, and stocks are up Monday, though such moves have been quick to reverse since the war in Iran began.
Statistics Canada says the annual rate of inflation dipped below two per cent in February as the end of last year’s federal “tax holiday” helped take some steam out of the yearly price comparisons.
Middle Eastern sovereign wealth funds and state-backed companies are unlikely to scale back renewable energy investments in Africa despite disruptions from the Iran war, analysts say, given the strong long-term economic and strategic reasons driving such funding.
Crude oil stayed above US$100 a barrel on Monday and Gulf countries reported more attacks by Iran as the war entered its third week, while share prices were mixed.
Representatives from Beijing and Washington began their economic and trade talks in Paris on Sunday, Chinese official news agency Xinhua reported.
The impact of the Iran war on fuel prices in Canada may encourage more drivers to go electric, some experts say, but others warn the conflict will drive up prices of "pretty much everything."
The U.S. is temporarily easing some sanctions on Russian oil shipments, reflecting global concerns over sharply higher crude prices due to supply shortages stemming from the Iran war.
The Trump administration this week stepped up its ambitious effort to replace about US$1.6 trillion in lost tariff revenue that was eliminated by the U.S. Supreme Court’s decision to strike down a range of the president’s import taxes.
The Bank of Canada will be balancing a last-minute flood of economic data with uncertainty around trade and war in the Middle East as it prepares to make its second interest rate decision of 2026 this week.
The Trump administration has expanded its trade investigations to 60 countries, including Canada, in an effort to shore up the president’s tariff policies.
Canada has committed to supplying 23.6 million barrels of oil as part of a larger International Energy Agency plan to help stabilize energy markets as the war in the Middle East continues.
Canada’s energy-heavy index may cushion stocks from oil shocks, but rising crude prices could boost inflation and pressure consumers.