Ontario's 2025 budget reveals the significant consequences of U.S. President Donald Trump's trade war on Canada. The budget includes a $14.6-billion deficit as U.S. tariffs begin to squeeze the province's economy. Power & Politics hears from Ontario Finance Minister Peter Bethlenfalvy. Plus, Alberta Premier Danielle Smith shuffles her cabinet as separation chatter grows in the province. Alberta NDP Leader Naheed Nenshi reacts.

Government House Leader Steven MacKinnon discusses which spending priorities the Liberals will try to pass before the summer despite forgoing a budget this year. Conservative MP Adam Chambers expands on leader Pierre Poilievre's accusations that skipping the budget sends the wrong message to investors, and goes against Prime Minister Mark Carney's assertion that he has a 'plan' for the economy. CBC's Meagan Fitzpatrick reports on the $14.6-billion deficit unveiled in the Ontario budget today. Plus, the Bloc Québécois announces it's challenging the election result in Terrebonne, where it lost by a single vote.

Finance Minister François-Philippe Champagne says the government's first priority is passing a tax cut for July 1, but signals that the Liberals aren't planning to release a budget this year — just an economic statement in the fall. Plus, Liberal MP Nathaniel Erskine-Smith explains why he posted on social media that it's 'impossible not to feel disrespected' after being left out of cabinet on Tuesday.