Canada column for
Sunday, June 2/19
THE CANADIAN REPORT
(c) By Jim Fox
Just as talks got
back on track toward reaching a new North American trade deal, a U.S. tariff on
Mexico threatens to derail the negotiations.
U.S. Vice-President
Mike Pence was in Canada on Thursday for talks with Prime Minister Justin
Trudeau to give momentum to the proposed United
States-Mexico-Canada Agreement.
Then on Friday,
President Donald Trump announced the new tariff unless Mexico stops migrants
from Central and South America from reaching the U.S. border.
Trump said the U.S.
will tax all imports from Mexico starting with 5 percent on June 10 and
increasing to 25 percent by October.
Recently the U.S.
removed tariffs on steel and aluminum from Canada and Mexico but the new taxes
are broader and more costly.
Canada and Mexico
are in the process of ratifying the new deal but it has stalled in the U.S.
over environmental and labor issues.
“In order not to
pay tariffs, if they start rising, companies will leave Mexico, which has taken
30 per cent of our auto industry, and come back home to the U.S.A.,” Trump commented.
---
Former U.S.
president Barack Obama received a “rock-star welcome” as he arrived in Ottawa for
a speech Friday night.
His visit came one
day after Vice-President Pence was at the capital on behalf of President Donald
Trump.
Pense said he
brought “warm greetings” from Trump and the Canada-U.S. relations have never
been stronger, due in part to Prime Minister Justin Trudeau’s leadership.
This is in contrast
to Trump’s tweet after leaving a G7 leaders’ summit last year in which he
called Trudeau “very dishonest and weak.”
Obama said he has
“a little bit of a love affair with Canada,” and has visited several times and
addressed Parliament in 2016.
---
News in brief:
- Conservative Leader Andrew Scheer said if elected prime minister in
the October election, he would end “illegal” border crossings of migrants into Canada.
Scheer said he would close a loophole in the Safe Third Country Agreement
between Canada and the U.S. It has allowed thousands of asylum-seekers to enter
the country by avoiding border checkpoints to make refugee claims.
- Canada’s central bank has left its trendsetting interest rate steady at
1.75 percent as consumer spending and exports improve. The Bank of Canada said
the oil sector is beginning to recover, the national housing market is
stabilizing and job growth remains strong. This indicates growth also in
business investment.
---
Facts and figures:
The Canadian dollar
has dropped to 73.85 cents U.S. while the U.S. dollar returns $1.354 Canadian before
exchange fees.
The Bank of Canada’s
key interest rate remains at 1.75 percent while the prime-lending rate is 3.95 percent.
Stock markets are lower, with the Toronto
exchange index at 16,037 points while the TSX Venture index is 601 points.
The average price for gas in Canada is lower at
$1.26 a liter or $4.78 (Canadian) for a U.S. gallon; $1.23 a liter in Ontario.
Lotto 6/49: (May 29) 4, 5, 15, 38, 41 and 42; bonus 36.
(May 25) 12, 19, 22, 25, 45 and 49; bonus 28. Lotto Max: (May 28) 4, 9,
10, 26, 27, 29 and 37; bonus 14. (May 24) 9, 11, 15, 19, 20, 35 and 41; bonus 28.
---
Regional briefs:
- With 10,000
people forced from their homes due to wildfires in Alberta, a fire ban is in
place in Edmonton. It prohibits open burning, fireworks, backyard fire pits,
cooking stoves and barbecues using wood and charcoal. Hot, dry and windy
conditions are fueling the fires in northern Alberta particularly around High Level.
- Without training or certification,
a woman worked as a nurse in Jonquiere, Quebec for 20 years while not
qualified. She was employed in hospital departments including surgery using the
license number of an accredited nurse with the same name. The scam was
discovered when her documents didn’t check out as she signed up for a training
course.
-30-
Jim Fox can be reached at canadareport@hotmail.com
No comments:
Post a Comment