B.C. government introduces legislation giving itself sweeping powers to deal with U.S. trade threats
The B.C. government has introduced legislation that would give itself sweeping powers to respond to threats from U.S. tariffs and their impact on the provincial economy
If passed, it would allow the government to respond without first having to go through the B.C. Legislature for debate.
Premier David Eby said the response is necessary given the unpredictable nature of the Trump presidency and its potential impact on British Columbians.
Attorney General Niki Sharma said the Economic Stabilization Tariff Response Act, tabled earlier on Thursday, would be temporary and would expire no later than "mid-2027."
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Montreal Gazette
18 minutes ago
- Montreal Gazette
Anti-Trump group plans rally June 24 to celebrate Maine-Quebec Friendship Day
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National Post
22 minutes ago
- National Post
Adam Pankratz: David Eby's CleanBC initiative a greater hit to economy than Trump's tariffs
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Globe and Mail
31 minutes ago
- Globe and Mail
Stocks Set for Muted Open With Focus on U.S.-China Trade Talks, U.S. Inflation Data Awaited
June S&P 500 E-Mini futures (ESM25) are up +0.08%, and June Nasdaq 100 E-Mini futures (NQM25) are down -0.01% this morning, pointing to a muted open on Wall Street as investors turn their attention to talks between the U.S. and China in London, and also await the release of key U.S. inflation data later in the week. Top officials from the U.S. and China meet in London today for talks that investors hope will signal progress toward easing trade tensions between the world's two largest economies. The talks come after a call between U.S. President Donald Trump and Chinese leader Xi Jinping last week, in which the two agreed to resume discussions on tariffs following a temporary truce reached in mid-May. 'The meeting should go very well,' Trump wrote on Truth Social on Saturday. The U.S. president told reporters on Friday that negotiations with Beijing were 'very far advanced.' 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Sentiment was supported by signs that de-escalation could be back on track following the recent flare-up in tensions between the two superpowers. China approved some applications for rare earth exports ahead of the talks. Boeing has also resumed deliveries of commercial jets to China for the first time since early April, signaling a reopening of trade flows. China Securities analysts said in a note that they think 'there could be some favorable outcomes from the meeting, as Trump has hinted at some positive signs.' Still, the benchmark index's gains were limited as investors digested weak economic data from the country. Data from the National Bureau of Statistics released on Monday showed that China's consumer prices fell for a fourth consecutive month in May, while producer deflation worsened to its deepest level in nearly two years, as the economy grapples with trade tensions and a prolonged housing slump. Separately, data showed that China's exports grew in May, but at a significantly slower rate as U.S. tariffs continue to affect trade despite the temporary trade truce between Beijing and Washington. Many economists anticipate the nation's exports to slump later this year, with the average U.S. tariff on Chinese goods still hovering near 40%, which could further intensify China's disinflationary pressures. In corporate news, Wenyi Trinity Technology jumped +10% after announcing plans to acquire a 51% stake in Anhui Zhonghe Semiconductor Technology for 121.4 million yuan. The Chinese May CPI came in at -0.1% y/y, stronger than expectations of -0.2% y/y. The Chinese May PPI stood at -3.3% y/y, weaker than expectations of -3.1% y/y. The Chinese May Trade Balance arrived at $103.22B, stronger than expectations of $101.10B. The Chinese May Exports came in at +4.8% y/y, weaker than expectations of +5.0% y/y. The Chinese May Imports stood at -3.4% y/y, weaker than expectations of -0.9% y/y. 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The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -3.31% to 22.78. The Japanese GDP Annualized has been reported at -0.2% q/q in the first quarter, stronger than expectations of -0.7% q/q. The Japanese April Current Account n.s.a. stood at 2.258T yen, weaker than expectations of 2.560T yen. The Japanese May Economy Watchers Current Index came in at 44.4, stronger than expectations of 43.8. Pre-Market U.S. Stock Movers Tesla (TSLA) fell over -3% in pre-market trading after Baird downgraded the stock to Neutral from Outperform. Air mobility stocks jumped in pre-market trading, extending Friday's gains after President Trump signed an executive order launching an electric 'Vertical Takeoff and Landing' integration pilot program. Joby Aviation (JOBY) and Archer Aviation (ACHR) are up over +9%. Today's U.S. Earnings Spotlight: Monday - June 9th Caseys (CASY), VinFast (VFS), Calavo Growers (CVGW), Graham (GHM), Limoneira (LMNR), Motorcar Parts (MPAA), Lakeland Industries (LAKE), Comtech (CMTL).
