No, the Walther PP isn't being made by Walther anymore. Walther is too busy making the S&W MP22.
S&W are making PPK and PPK/S models, and have started building PPK in .22 as well. Their early efforts were awful and subject to recall, etc. More recent guns are apparently better, but still prohibited here. Unlike the 4.2 inch barrels on 4 inch revolvers, there appears to be little interest at S&W in servicing the Canadian market. They are likely selling far too well South of the border.
Walther and S&W have apparently parted ways recently, with Walther starting a US firm Walther Arms Inc., to distribute German-made product. I have heard that Carl Walther GMBH is more approachable of late, and some larger dealers have been talking to them about small custom runs, apparently with some favorable preliminary response. Time will tell!
Regardless, the PP hasn't been made since the late 80s. They are an excellent pistol, especially in .22, and are importable into the USA, where there are tons for sale at Simpson and other big Walther dealers.