Canada column for
Sunday, July 1/18
THE CANADIAN REPORT
(c) By Jim Fox
A ketchup war
highlights the tiff between the United States and Canada over trade.
Canada’s Liberal
government, retaliating for President Donald Trump’s punishing tariffs on steel
and aluminum, is hitting back with fees on $16.6 billion on products from the
U.S. effective today (Sunday).
At the same time,
the government of Prime Minister Justin Trudeau announced a $2-billion
financial-aid package to support workers and industries in the vulnerable steel,
aluminum and manufacturing sectors.
Foreign Affairs
Minister Chrystia Freeland unveiled a list of U.S. products facing reciprocal
tariffs already on steel and aluminum imports from the U.S.
The items subject
to new duties of 10 to 25 percent are from a wide range of sectors, including ketchup,
maple syrup and whisky, lawn mowers, motorboats, playing cards and screws.
Canada’s dollar-for-dollar
countermeasures are reciprocal retaliation to “illegal” and “absurd” tariffs,
Freeland said.
Trudeau will visit
Leamington, Ontario today – Canada’s 151st birthday – where U.S. based Heinz
closed its ketchup plant with the loss of 700 jobs in 2014.
French’s then began
making its ketchup from those Canadian tomatoes and opened a plant in Toronto
as Heinz now ships its U.S. ketchup north and faces new duties.
---
Prime Minister
Trudeau’s office was surprised to learn “by accident” that former Conservative
Prime Minister Stephen Harper will be visiting the White House on Monday.
There are reports
in Canada that Harper, who is a private consultant, is to meet with Larry
Kudlow, Trump’s economic adviser, and John Bolton, the national security
adviser.
Harper has gotten
involved in the talks to rewrite the North American Free Trade Agreement and
offered his opinions on U.S. TV programs and at conferences.
He has been
critical of some of the Liberal government’s negotiations while defending
the agreement itself.
---
News in brief:
- Conservative Doug
Ford was sworn in as Ontario Premier on Friday, promoting an agenda of fiscal
responsibility. After a crushing blow that ended 15 years of Liberal rule in
the country’s most-populous province, Ford named his two rivals for the party leadership
to top roles in the government. Christine Elliott was named Deputy Premier and
Minister of Health and Long-Term Care while Caroline Mulroney was named
Attorney General.
- Lorne Michaels,
creator and executive producer of Saturday Night Live, is among three people
named Companions of the Order of Canada. Other Canadians honored for
outstanding achievement, dedication to the community and service to the nation
were Canada’s first woman in space, Roberta Bondar, and Beverley McLachlin, who
was the longest-serving Chief Justice of Canada.
---
Facts and figures:
Canada’s dollar has
advanced to 76.08 cents U.S. while the U.S. dollar returns $1.314 in Canadian
funds (bank exchange fees extra).
The Bank of Canada’s key interest rate is steady
at 1.25 percent while the prime-lending rate is 3.45 percent.
Stock markets are lower, with the Toronto
exchange index at 16,277 points while the TSX Venture index is 739 points.
The average price for gas in Canada is higher at
$1.323 a liter or $5.02 (Canadian) for a U.S. gallon.
Lotto 6/49: (June 27) 4, 6, 10, 13, 14 and 28; bonus 47.
(June 23) 8, 11, 31, 36, 41 and 45; bonus 40. Lotto Max: (June 22) 3, 10,
16, 28, 31, 38 and 47; bonus 20.
---
Regional briefs:
- While Toronto and
much of eastern Canada swelters through a heat wave with temperatures in the
90s F, there was more summer snow in Newfoundland. Environment Canada said the
snowfall set a record for June 26 in Gander with 1.7 inches and the temperature
around freezing. The Atlantic province dug out of a foot of snow on May 24. Jake
Reid tweeted: “Newfoundland: Where snow tires are considered all-season tires.”
- Gasoline prices
have reached record highs in Vancouver this weekend, topping $1.60 a liter for
regular ($6.08 Canadian for a U.S. gallon). As well, the British Columbia
government announced a bill to raise fuel taxes next year by up to 1.5 cents a
liter (5.7 cents a gallon) to fund public transit. Gas price watchdog Dan
McTeague, blames the prices on “heavy demand and limited supply.”
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Jim Fox can be reached at canadareport@hotmail.com
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