Good morning. A billion-dollar federal program intended to help Indigenous businesses grow has instead become a breeding ground for shell companies, critics say, despite Ottawa being warned decades ago. More on that below, plus the G7 meetings and American products take a hit. But first:

• Canadian officials project calm after tariff meeting in Washington
• Justin Trudeau bids farewell on his last day in office, and Mark Carney begins to pull together a new cabinet
• Ontario has twice as many measles cases than it did in the entire decade between 2013 and 2023. Here’s what you need to know about the virus.
• Russian President Vladimir Putin backs ceasefire deal, but says he wants to negotiate further

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