WINNIPEG, Sept. 5 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Trade talks between the United States and China will now proceed in October. Initially, negotiations had been planned for September following the last round of face-to-face talks in August. On Tuesday, a new agreement was reached during a teleconference between top officials from both countries that talks will be scheduled for Washington, D.C. during the early part of next month. Over the weekend the global economic superpowers levied more tariffs on each other, with additional hikes slated for Oct. 1. There have been fears the U.S./China trade war would plunge the global economy into a recession.
Read Also
ICE canola on both sides of unchanged
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange were mixed and showed little movement despite support from…
– Canadian Prime Minister Justin Trudeau appointed Dominic Barton as the country’s new ambassador to China. Until last year, the 56-year-old Barton was the global managing partner of McKinsey & Co., a consulting firm and has extensive experience in dealing with China. He succeeds former ambassador John McCallum who resigned in January following comments he made regarding the arrest in Vancouver of Huawei executive Meng Wanzhou. Barton is now tasked with resolving the Canada/China trade dispute that includes freeing two Canadians who have been detained in China for 10 month.
– United Kingdom Prime Minister Boris Johnson suffered another major embarrassment on Wednesday when his younger brother, Jo Johnson, resigned as the country’s business minister and as a Conservative MP. The younger Johnson, who voted for the U.K. to remain in the European Union, stated there had been “unresolvable tension” and that he was “torn between family loyalty and the national interest.” As well, Prime Minister Johnson was blocked by Parliament yesterday from pursuing a no-deal Brexit in a vote that saw 21 Conservative MPs join forces with Opposition MPs.
