Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump told reporters Friday morning that his administration “hasn’t been focused” on reaching a new trade deal with Canada before tariffs come into effect on Aug. 1, adding that the U.S. “doesn’t have a deal with Canada.” Before leaving for Scotland, Trump said, “We haven’t really had a lot of luck with Canada. I think Canada could be one where there’s just a tariff, not really a negotiation.”
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– The U.S. and Israel recalled their delegations on Thursday, halting negotiations to reach a ceasefire in Gaza. U.S. envoy Steve Witkoff accused Hamas of not acting in good faith despite the militant group’s position being welcomed by mediators. While Canada was not part of the negotiations, Prime Minister Mark Carney said in a statement on Thursday condemning Israel for failing to prevent the humanitarian disaster in the region, urging the release of hostages and for Israel to “respect the territorial integrity of the West Bank and Gaza.” French President Emmanuel Macron announced his country will recognize Palestine as an independent state, the largest Western state to do so. Israeli Prime Minister Benjamin Netanyahu said it would be “a launch pad to annihilate” his country.
– The U.S. Drought Monitor released its latest map on Thursday, showing very few areas of dryness and fewer areas of drought in the eastern half of the country, including the U.S. Corn Belt and much of the U.S. Plains. Exceptions include northern Illinois and northern Indiana, central Michigan, the northwest corner of Minnesota and southern Florida. Meanwhile, most areas west of Texas are under varying levels of drought, with exceptional drought found in southwest New Mexico.
– The Brazilian Agriculture and Livestock Confederation warned the country could lose up to US$5.8 billion in trade with the U.S. if the Trump administration’s tariffs go into effect. The tariffs could also cut the volume of goods exported to the North American market by half, which totaled US$12.1 billion in 2024, and make orange juice and sugar exports commercially unviable.
