Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Canadian Prime Minister Mark Carney met with the premiers at a summit in Huntsville, Ont. on Tuesday, telling them the federal government “will not accept a bad deal” with regards to trade negotiations between Canada and the United States. Canada has until Aug. 1 to avoid 35 per cent tariffs placed on its goods entering the U.S. On the same day, premiers signed memorandums of understanding with each other in efforts to break down interprovincial trade barriers. Saskatchewan joined a memorandum with Alberta and Ontario on Tuesday to build new pipelines and railways connecting the provinces. Manitoba did not sign the agreement, citing a need for Indigenous consensus. However, it signed an agreement with Saskatchewan and Arctic Gateway Group to expand trade via the Port of Churchill.
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Global Markets: Carney meets with U.S. senators, premiers
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
– U.S. President Donald Trump said on Tuesday the U.S. and Japan reached a new trade agreement which would see a 15 per cent tariff on all Japanese goods, including automobiles, entering the U.S. In exchange, Japan will invest US$550 billion in the U.S. He also announced new separate trade deals with the Philippines and Indonesia which will see 19 per cent tariffs on goods from the two nations. The European Commission said on Wednesday it plans to submit US$109 billion in counter-tariffs on U.S. goods pending approval by European Union members. European Trade Commissioner Maros Sefcovic will speak with U.S. Commerce Secretary Howard Lutnick later today.
– Russia and Ukraine will meet in Turkey on Wednesday for their first series of peace talks in nearly two months. However, Kremlin spokesperson Dmitry Peskov said both sides are “diametrically opposed” and Ukrainian President Volodymyr Zelenskyy said the meeting should be focused on preparing for a potential summit between him and Russian President Vladimir Putin. The talks come at a difficult time for Zelenskyy as protestors took to the streets in Kyiv earlier this week against his government’s plans to dismantle anti-corruption agencies.
