LISTEN: This week on the Atlantic Canada Business Report with Peter McCully - Canada's premiers wrapped their summer meeting in Charlottetown, meeting with Prime Minister Mark Carney on trade, energy, and Canada-US relations, while a fresh US tariff threatens New Brunswick and Nova Scotia's forest sector. All four Atlantic provinces signed a new deal allowing direct-to-consumer alcohol sales, and New Brunswick, Nova Scotia, and Prince Edward Island agreed to coordinate regional electricity planning.

Empire Company says it will stop enforcing property controls that block rival grocers near Sobeys stores, Irving Oil confirmed a fall turnaround at its Saint John refinery, and Newfoundland and Labrador posted rising retail sales alongside forecasts it could lead the country in economic growth next year.

Highlights:

Atlantic Canada

Provincial and territorial premiers wrapped their Charlottetown summer meeting, discussing trade and energy with Prime Minister Mark Carney. All four Atlantic provinces signed a new deal allowing direct-to-consumer alcohol sales, cutting internal trade barriers.

Nova Scotia

Nova Scotia Premier Tim Houston met with Ridgehaven Holdings on its proposed stadium and entertainment district outside Halifax; no funding commitment followed. Separately, BuildForce Canada forecasts non-residential construction climbing through 2030 on the strength of the Everwind Hydrogen project.

New Brunswick

A fresh US tariff order threatens New Brunswick's forest sector, with Washington planning a 50% duty on wood products including plywood and fiberboard. Premier Susan Holt noted New Brunswick was first in Canada to allow direct-to-consumer alcohol sales.

Prince Edward Island

Prince Edward Island brewers welcomed the new inter-provincial alcohol sales deal but say shipping costs and small production scale will limit real revenue gains. PEI, Nova Scotia, and New Brunswick also signed a memorandum to coordinate regional electricity planning.

Newfoundland and Labrador

Newfoundland and Labrador's retail sales rose 2.8% in May while inflation hit 3.8% in June. Finance Minister Craig Pardy will pitch the province at a Toronto investor summit, as forecasts suggest it could lead all provinces in 2026 growth.

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LISTEN: This week on the Atlantic Canada Business Report with Peter McCully - a new Fraser Institute study found Canadian business investment per worker has fallen to 54 percent of the US level, as federal and provincial finance ministers met in Charlottetown for pre-budget talks. New Brunswick improved its interprovincial trade grade even as skilled tradespeople stayed on strike in Moncton, while Prince Edward Island earned an A on the same report card.

Nova Scotia relaxed rules for local alcohol producers, funded new seafood ventures in Digby County, and cleared the way for a zinc mine restart near Halifax. And in Newfoundland and Labrador, the offshore oil and gas sector posted its strongest growth in years, with OilCo drawing 19 proposals for a new floating dry dock at Bull Arm.

Highlights:

Atlantic Canada

Business investment per worker in Canada has fallen to 54 percent of the US level from 87.3 percent in 2014, a Fraser Institute study found. Ottawa's finance minister held pre-budget consultations in Charlottetown with provincial counterparts.

Nova Scotia

Nova Scotia awarded funding from its $4.7-million Seafood and Agriculture Strategic Investment Fund, backing new lobster byproduct and oyster hatchery ventures in Digby County. The province also cleared the way for Scotia Mining's zinc mine to restart operations in 2027.

New Brunswick

New Brunswick earned an improved grade on the CFIB's 2026 State of Internal Trade Report Card, credited for embracing mutual recognition of standards. Electricians and carpenters remain on strike, delaying hospital construction projects in Moncton.

Prince Edward Island

Prince Edward Island earned a grade A on the CFIB's 2026 State of Internal Trade Report Card for easing cross-border business activity. A Fraser Institute analysis argues the province should not renew its rent cap in 2027.

Newfoundland and Labrador

Newfoundland and Labrador's offshore oil and gas sector posted a 26 percent year-over-year rise in production volumes, with Hibernia's strongest monthly output since 2021. OilCo received 19 proposals for a floating dry dock planned for Bull Arm.

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LISTEN: This week on the Atlantic Canada Business Report with Peter McCully - Statistics Canada’s June jobs data revealed an uneven recovery, with Nova Scotia leading the region while New Brunswick and Prince Edward Island lost ground. Ottawa awarded Germany’s ThyssenKrupp Marine Systems the $22-billion submarine program, with six vessels to be serviced in Halifax, while ISAR Aerospace committed $112.5 million to build a launch complex at Spaceport Nova Scotia.

New Brunswick is investing up to $54.3 million to help major employers like Irving Paper modernize, and Moncton joined Ottawa’s housing design catalog. Prince Edward Island posted its strongest housing starts since 1973 even as resale sales slipped. And in Newfoundland and Labrador, Premier Tony Wakeham courted Alberta investors while Ottawa committed $10.6 million to help workers and businesses hit by U.S. tariffs.

Highlights:

Atlantic Canada

Statistics Canada’s June Labour Force Survey showed an uneven regional recovery - Nova Scotia added 4,800 jobs and its unemployment rate fell to 6.5%, while New Brunswick lost ground and Prince Edward Island’s rate climbed to 7.6%.

Nova Scotia

Ottawa awarded Germany’s ThyssenKrupp the $22-billion submarine program, with six of twelve vessels serviced in Halifax. ISAR Aerospace signed a $112.5-million deal with Maritime Launch Services to build a launch complex at Spaceport Nova Scotia.

New Brunswick

New Brunswick is providing up to $54.3 million over three years to help major employers modernize, with Irving Paper eligible for up to $15 million annually, protecting more than 183 jobs. Moncton joined Ottawa’s housing design catalog.

Prince Edward Island

Prince Edward Island recorded 1,769 housing starts in 2025, up 4.4% and the strongest annual total since 1973, as population reached 182,657. Resale sales dropped 9% even as the benchmark price edged up to $383,000.

Newfoundland and Labrador

Premier Tony Wakeham courted Alberta investors in Calgary to promote the province’s energy and critical minerals sector. Ottawa is providing $10.6 million to help roughly 1,200 Newfoundland and Labrador workers and businesses affected by U.S. tariffs.

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