Tariff exposure lower in B.C.; warning against illicit sexual performance drugs: CBC's Marketplace Cheat Sheet
Miss something this week?
Don't panic. CBC's Marketplace rounds up the consumer and health news you need.
Want this in your inbox? Get the Marketplace newsletter every Friday.
B.C. economies 'less exposed' to potential U.S. tariffs: Canadian Chamber of Commerce
B.C. cities, in general, would be among the least vulnerable in Canada if U.S. President Donald Trump follows through on tariff threats, according to new data from the Canadian Chamber of Commerce.
That isn't to say that British Columbia wouldn't suffer: the chamber's chief economist, Stephen Tapp, says those tariffs would be recessionary for the whole country.
"I don't think anybody's really fully insulated from Trump's tariff threats," he told CBC's Daybreak Kamloops guest host Doug Herbert. "But I think that the B.C. economies in our numbers come out a lot less exposed than some of the other places in the country."
The chamber's Business Data Lab looked at Statistics Canada information from 41 cities across Canada with populations of more than 100,000 people. This means the data is lacking when it comes to rural Canadians, who also have a vested interest in Canada's trade relationship with the United States.
From there, they assess how much each city exports to the U.S.
Kamloops, located 253 kilometres northeast of Vancouver, ranked 40th out of 41 cities and would be the second-most resilient in the event the U.S. does impose tariffs on Canadian goods, according to the chamber's calculations. Read more
Health Canada is again warning people to stop using unauthorized sexual enhancement products
Health Canada is warning people that unauthorized sexual enhancement products sold in at least three provinces may pose serious health risks.
In a public advisory published on Wednesday, the agency told people to stop using the 372 different products they'd identified — with names like Spanish Fly 22,000, Rhino 69 and Magnum Gold — and consult a health-care professional if they have any concerns.
Health Canada says it has seized the products from stores in New Brunswick, Quebec and Ontario because they have been found to contain "dangerous ingredients."
"Unauthorized health products have not been approved by Health Canada, which means that they have not been assessed for safety, effectiveness and quality," the agency said.
Last year, Health Canada issued four other warnings about sexual enhancement products, including counterfeit erectile dysfunction drugs seized at Toronto convenience stores. In a similar warning last May, Health Canada identified 421 unauthorized sexual enhancement products sold mostly in Ontario, but also in Quebec, Alberta and B.C. Read more
Regulation would encourage AI innovation, U of Ottawa prof argues after Paris summit
Regulation of artificial intelligence would encourage — not stifle — innovation, says a University of Ottawa professor who presented at last week's global AI summit.
Florian Martin-Bariteau, who is also the university's chair of technology and society, flew across the Atlantic to address world leaders in Paris at a summit meant to set a global agenda for the rapidly developing technology.
Such international summits have been held annually since 2023 and bring together world leaders, researchers and AI companies.
"Not any kind of innovation is good for society," Martin-Bariteau said in an interview with CBC's Ottawa Morning.
"Regulation is not always bad. It can help provide a playbook for innovators, know what they can do, not do, and innovate in a safe environment."
Martin-Bariteau said he was hopeful the summit would allow leaders to develop concrete plans to handle AI, but instead faced a reality that was like "a cold shower."
Conversations at the summit were "light toward commitment" and "lacking big actions," he said. "A lot of people think regulation will stifle innovation."
That was certainly the tone set by U.S. Vice-President JD Vance, who told the summit"excessive regulation of the AI sector could kill a transformative industry just as it's taking off."
What else is going on?
Surprise visitor trapped Chelsea Coles outside of her house in – 30 C weather.
Marketplace needs your help!
Are you on the lookout for the latest in business news? You'll want to subscribe to this newsletter, too.
Mind Your Business is your weekly look at what's happening in the worlds of economics, business and finance. Subscribe now.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
an hour ago
- Toronto Star
Mark Carney says sacrifice is necessary to pay for defence spending. So what will Canadians be asked to do?
Mark Carney 's bold new plan to increase Canada's defence spending comes with two price tags. The prime minister's announcement was clear on one of them: more than $9 billion will be injected into military spending this year alone, and increases in the years after. The other price — 'sacrifice' — got a mention from Carney, but little more by way of detail. Federal Politics Canada plans huge boost in defence spending to hit NATO target by year's end, Carney says Prime Minister Mark Carney tore up Canada's timelines for boosted military spending on Monday 'None of these goals will come easily or quickly,' Carney said, listing the ways in which a stronger defence budget fits into his larger plans to make Canada a bigger, bolder, more independent nation. 'All will require ambition, collaboration and yes, on occasion, sacrifice.' ARTICLE CONTINUES BELOW Carney was asked at a news conference later what he meant by this. Did it mean, for instance, that all those dollars for defence would come ahead of health-care spending? This is where the prime minister got vague. He said: 'There's no true security without economic strength, and this is true for defence and security. It's true for our social programs as well. We can't redistribute what we don't have.' Carney, by his own admission, is still learning how to be a politician, but on this and in other areas, he is proving to be a quick study. It is very hard for politicians to ask citizens to make sacrifices. We saw this during the COVID pandemic, when governments and public-health authorities asked an awful lot of the citizens, whether that was mandatory vaccines, wearing a mask, or submitting to lockdowns for weeks and months on end. Canadians were remarkably good about these demands on them, by and large, but there's also no question that it took its toll on them too. The convoy protest was the most outward expression of the pent-up frustration among some of the population, but experts are also drawing some straight lines between the pandemic restrictions and the rising resistance to vaccines of other types too, such as measles. Star Columnists Opinion Andrew Phillips: Mark Carney takes a risk by choosing guns over butter The prime minister announced a 17 per cent hike in military spending on Monday. 'It will be a This is all to say that Carney is probably wise to speak in only general terms of what trade-offs the government — and Canadians — will have to make to turn Canada into a serious, fighting force. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Earlier this year, Kevin Page, the former parliamentary budget officer, laid out for Global News what could be required to bring Canada's defence spending up to the target of two per cent of gross domestic product — which Carney said on Monday would now happen by the end of this fiscal year. Page didn't sugar-coat it. He said it would require either big spending cuts, or a budget deficit or a tax hike, or some combination of these measures. Raising the GST by one percentage point, Page offered as an example, would bring an extra $10 billion — that's just slightly more than Carney is promising to give defence this year. That last option would be political poison in a time when Canadians are reeling from affordability challenges and the havoc that Donald Trump's tariffs are wreaking on the economy. Besides, a government that just cut the carbon levy because of its unpopularity, which just received unanimous support for tax-cut measures last week, is unlikely to turn around and ask Canadians to pay more GST. Opinion Althia Raj: Mark Carney can't be allowed to ram through his plan to build big Bill C-5 has been quickly panned by Indigenous groups, human rights organizations, and There's the option of increasing taxes only on the wealthy, but Carney is in the midst of building back Liberals' standing with business and corporate Canada, which saw itself — rightly or wrongly — as under siege from Justin Trudeau's government. Assuming that running a deficit is also not on brand with Carney's fiscal-manager reputation, thus, not on at all, that leaves this government looking for big savings. Everyone always thinks this is a good idea, right up until their services or benefits or jobs get cut. As former PM Jean Chrétien liked to say, everyone wants to go to heaven but nobody wants to die. None of this is to pour cold water on the idea of this big, bold boost in Canada's defence ambitions. Carney's speech on Monday was eloquent, even occasionally poetic, on this score. One of my favourite lines: 'In a darker, more competitive world, Canadian leadership will be defined not just by the strength of our values, but also by the value of our strength.' The announcement too, is buying the Liberals a lot of good words from unaccustomed places: the defence community and Conservatives. It will also give Carney and Canada some added heft at this weekend's G-7 meeting, which this country is hosting in Kananaskis, AB. Federal Politics Analysis Mark Carney revives tough talk about America and warns 'a new imperialism threatens' A Canadian government official told the Star that it is 'difficult to say whether or not we'll The prime minister is, then, to borrow from his own phrase, seeing some immediate value for his strong words on defence. Where the value of that strength will be tested is in the cost — not just the $9 billion the government is promising to lay out this year, but in the as-yet unspecified 'sacrifice' it requires from Canadians. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! You'll start getting Politics Headlines in your inbox soon. Want more of the latest from us? Sign up for more at our newsletter page.
CTV News
an hour ago
- CTV News
U.S. and China agree on trade framework after two days of talks in London, Chinese negotiator says
U.S. President Donald Trump, left, meets with Chinese President Xi Jinping during a meeting on the sidelines of the G-20 summit in Osaka, Japan, June 29, 2019. (AP Photo/Susan Walsh, File) The United States and China have agreed on a trade framework after two days of negotiations in London, China's trade negotiator Li Chenggang told reporters on Wednesday, according to Chinese state broadcaster CGTN. The two sides 'have agreed in principle on the framework for implementing the consensus reached by the two heads of state during their phone talks on June 5 and at Geneva talks last month,' he said. This is a breaking story. More to come...
Cision Canada
2 hours ago
- Cision Canada
Biggest-ever aid cut by G7 members a death sentence for millions of people, says Oxfam
Aid cuts could cost millions of lives and leave girls, boys, women and men without access to enough food, water, education, health treatment G7 countries are making deliberate and deadly choices by cutting life-saving aid, enabling atrocities, and reneging on their international commitments Low and middle-income countries face reduced aid, rising debt, and trade barriers — a perfect storm that threatens development and recovery. OTTAWA, ON, June 10, 2025 /CNW/ - The Group of Seven (G7) countries, which together account for around three-quarters of all official development assistance, are set to slash their aid spending by 28 percent for 2026 compared to 2024 levels. It would be the biggest cut in aid since the G7 was established in 1975, and indeed in aid records going back to 1960, reveals a new analysis by Oxfam ahead of the G7 Summit in Kananaskis, Canada. "The G7's retreat from the world is unprecedented and couldn't come at a worse time, with hunger, poverty, and climate harm intensifying. The G7 cannot claim to build bridges on one hand while tearing them down with the other. It sends a shameful message to the Global South, that G7 ideals of collaboration mean nothing," said Oxfam International Executive Director Amitabh Behar. 2026 will mark the third consecutive year of decline in G7 aid spending – a trend not seen since the 1990s. If these cuts go ahead, G7 aid levels in 2026 will crash by $44 billion to just $112 billion. The cuts are being driven primarily by the US (down $33 billion), Germany (down $3.5 billion), the UK (down $5 billion) and France (down $3 billion). "Rather than breaking from the Trump administration's cruel dismantling of USAID and other US foreign assistance, G7 countries like the UK, Germany, and France are instead following the same path, slashing aid with brutal measures that will cost millions of lives," said Behar. "These cuts will starve the hungry, deny medicine to the sick, and block education for a generation of girls and boys. This is a catastrophic betrayal of the world's most vulnerable and crippling to the G7's credibility," said Behar. Canada allocated $10.17 billion to official development assistance in 2023/2024. Although its foreign aid budgets have been declining for the past two years, Canada is one of the few G7 countries that as not announced its intention to cut ODA. Oxfam Canada is calling on the federal government to clearly affirm its commitment to combating global inequality by maintaining its international aid budget for the coming years. "The Canadian government's recently announced intention to increase Canada's military spending to meet the NATO target of 2% of GDP makes the announcement all the more necessary. International aid makes a crucial contribution to global stability by focusing on prevention and providing essential services that strengthen social cohesion," said Lauren Ravon, Executive Director of Oxfam Canada. Economic projections show that aid cuts will mean 5.7 million more people across Africa will fall below extreme poverty levels in the coming year, a number expected to rocket to 19 million by 2030. Cuts to aid are putting vital public services at risk in some of the world's poorest countries. In countries like Liberia, Haiti, Malawi, and South Sudan, US aid had made up over 40 percent of health and education budgets, leaving them especially exposed. Combined with a growing debt crisis, this is undermining governments' ability to care for their people. Global aid for nutrition will fall by 44 percent in 2025 compared to 2022: The end of just $128 million worth of US-funded child nutrition programs for a million children will result in an extra 163,500 child deaths a year. At the same time, 2.3 million children suffering from severe acute malnutrition – the most lethal form of undernutrition – are now at risk of losing their life-saving treatments. One in five dollars of aid to poor countries' health budgets are cut or under threat: WHO reports that in almost three-quarters of its country offices are seeing serious disruptions to health services, and in about a quarter of the countries where it operates some health facilities have already been forced to shut down completely. US aid cuts could lead to up to 3 million preventable deaths every year, with 95 million people losing access to healthcare. This includes children dying from vaccine-preventable diseases, pregnant women losing access to care, and rising deaths from malaria, TB, and HIV. G7 countries are not just reneging on commitments to global aid and solidarity, they are fuelling conflicts by allowing grave violations of international law, like in Gaza where people are facing starvation. Whether in Ukraine, the occupied Palestinian territory, the Democratic Republic of the Congo or elsewhere, civilians must always be protected, and aid is often the first line of protection they get. G7 countries are illuminating a double standard that risks more global instability, conflict and atrocities. While G7 countries cut aid, their citizen billionaires continue to see their wealth surge. Since the beginning of 2025, the G7 ultra-rich have made $126 billion, almost the same amount as the group's 2025 aid commitment of $132 billion. At this pace, it would take the world's billionaires less than a month to generate the equivalent of the G7's 2025 aid budget. By taxing the super-rich, the G7 could easily meet their financial commitments to end poverty and climate breakdown, whilst also having billions in new revenue to fight inequality in their own countries. "The world is not short of money. The problem is that it is in the hands of the super-rich instead of the public. Rather than fairly taxing billionaires to feed the hungry, we see billionaires joining government to slash aid to the poorest in order to fund tax cuts for themselves," said Behar. Oxfam is calling on the G7 to urgently reverse aid cuts and restore funding to address today's global challenges. More than 50 years after the United Nations set the target of 0.7 percent for aid spending, most G7 countries remain well below this. Oxfam is also urging the G7 to support global efforts led by Brazil and Spain to raise taxes on the super-rich, and to back the call from the African Union and The Vatican for a new UN body to help manage countries' debt problems. NOTES TO EDITORS According to OECD Data Explorer, the combined annual aid expenditure of the G7 in 2024 was $156.694 billion. Canada spent $7.323 billion, the United States $61.821 billion, Japan $17.583 billion, France $15.047 billion, Germany $31.382 billion, Italy $6.534 billion, and the United Kingdom $17.005 billion. Donor Tracker estimates that the decline in combined annual aid spending of the G7 countries for the period 2024 to 2026 will be -$44,488 billion. In 2024, aid from G7 countries declined by 8 percent, and projections for 2025 point to a sharper drop of 19 percent. Modelling using finds that 5.7 million more Africans would fall below the US$2.15 extreme poverty income level in the next year if Trump's administration succeeds in its aid-reduction ambition. This assumes a 20 percent reduction of aid to Africa, considering that some US aid would be maintained as the US alone accounted for 26 percent of aid to Africa before the cuts. The dismantling of USAID and major aid reductions announced by Western donors threaten to undo decades of progress on malnutrition. A 44 percent drop in funding from 2022 levels could lead to widespread hardship and death. Up to 2.3 million children with severe acute malnutrition risk losing life-saving treatment, warns the Standing Together for Nutrition Consortium. There are 2,968 billionaires in the world, and 1,346 live in G7 countries (45 percent). For real-time updates, follow us on X and Bluesky, and join our WhatsApp channel tailored specifically for journalists and media professionals.
