Ford says energy projects will be top of mind in talks with Carney
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Hamilton Spectator
2 hours ago
- Hamilton Spectator
Premiers entering final day of meetings with public safety, internal trade on agenda
Canada's premiers are set to meet for the third and final day of their gathering in Ontario's cottage country, with internal trade, public safety and health care on the agenda. The premiers met with Prime Minister Mark Carney in Huntsville, Ont., on Tuesday to discuss the ongoing trade war with U.S. President Donald Trump after meeting with First Nation leaders the previous day. The prime minister and the premiers presented a united front in the face of U.S. tariffs, but revealed little about the negotiations with an Aug. 1 deadline in trade talks fast approaching. The prime minister and the premiers all downplayed the importance of getting a deal done soon to avoid further U.S. tariffs, saying they want the best deal possible regardless of timing. A number of provinces also signed several free trade deals to open up internal trade while others committed to building pipelines to get oil and gas to new markets. The premiers are set to hold a closing press conference this afternoon. This report by The Canadian Press was first published July 23, 2025.
Yahoo
5 hours ago
- Yahoo
Carney to visit his hometown of Fort Smith, N.W.T., on Wednesday
Prime Minister Mark Carney will visit his hometown of Fort Smith, N.W.T., on Wednesday — his first official visit to the territory since he was elected. According to the Prime Minister's Office, Carney and Premier R.J. Simpson will meet with local families Wednesday morning in Fort Smith to discuss affordability challenges and food insecurity. Carney is also scheduled to meet with local leaders there about the impact of wildfires in the N.W.T. Though this wildfire season has been relatively calm so far, the territory has been hit hard by fires in recent years, including the evacuation of Fort Smith, Hay River and Yellowknife in 2023. Carney was born in Fort Smith and lived in the southern N.W.T. town until his family moved south when he was about six years old. He will be in Inuvik on Wednesday evening, where he will visit the local community centre and meet with Natan Obed, the president of Inuit Tapiriit Kanatami, and Duane Smith, the chair of the Inuvialuit Regional Corporation. He's expected to discuss Bill C-5, the federal government's major projects legislation. The federal government said it would hold a series of "summits" over the summer with First Nations, Inuit and Métis to discuss the Building Canada Act, which gives the government the power to fast-track projects and bypass certain laws, government regulations and environmental assessments if an industry project is deemed in the national interest. The legislation has been controversial, with many First Nations groups saying it is a violation of their treaties and constitutional rights.
Yahoo
5 hours ago
- Yahoo
Posthaste: 'Buy Canadian' is going strong except in one very important marketplace
Canadians say they are buying more domestic goods and steering clear of the United States on their holidays, but there is one area where the 'Buy Canadian' movement appears to be falling short. Canadian investors have been snapping up U.S. stocks at an unprecedented pace since President Donald Trump took office in January, according to recently released data from Statistics Canada on international securities transactions. 'So what kind of U.S. assets are Canadians buying? You name it,' said National Bank of Canada economist Warren Lovely in a note on the data. Most of the buying has been in stocks, but Canadians have also added $20 billion in U.S.-issued debt in the latest four months, most of it in U.S. Treasury securities. 'In other words, Canadians have been helping to finance the deficit of the government that's repeatedly threatened our economic livelihood. Curious,' said Lovely. On Monday, Ontario Premier Doug Ford renewed his call to buy 'Canadian-made everything' to pressure the United States to negotiate a trade deal. 'We're encouraging all provinces and territories: start buying Canadian-made vehicles, start buying Canadian-made everything — that will hurt more than anything at all,' Ford told reporters at the premiers' meeting near Huntsville, Ont. The Bank of Canada's consumer survey out yesterday also showed that Canadians plan to keep up their boycott of U.S. travel and products. (See today's chart below). It's a boycott that apparently doesn't extend to the stock market where Canadians bought $14.2 billion in U.S. shares in May alone. Meanwhile, foreign investors are pulling back from Canadian equities. In May, non-residents cut their holdings of Canadian securities by $2.8 billion, the fourth straight month of divestment. Foreigners are still buying Canadian bonds, but stocks not so much. 'For the first time on record (back to 1988), the first five months of the calendar year produced no net foreign buying of Canadian portfolio assets,' said Lovely. May marked a turnaround for stocks on both sides of the border after three straight months of decline. America's S&P 500 rose 6.2 per cent from the end of April and Canada's TSX was up 5.4 per cent, said Statistics Canada. The S&P 500 has hit record highs, but so has the TSX, topping 27,000, a 9.3 per cent gain since the beginning of the year, said National. National Bank still advocates being overweight in Canadian stocks, and stands by its allocation of 21 per cent Canadian equities, 15 per cent U.S. stocks, and 3 per cent each to foreign equities and emerging markets. Fifty per cent fixed income and 8 per cent cash round out the portfolio. The outperforming sectors on the TSX this year have been materials, consumer discretionary and banks, they said. The laggards have been health care, energy, consumer staples and real estate. Though President Trump's threat to impose 35 per cent tariffs starting Aug. 1 is hanging over Canada, National economists say the outlook for the TSX is 'not entirely bleak.' A trade deal, which would be positive for the economy and corporate profits, is still possible before Ottawa tables its fall budget. The economists are also encouraged by what they call Make Canada Investable Again — Prime Minister Mark Carney's business agenda which includes efforts to reduce red tape and revive business investment. to get Posthaste delivered straight to your trade conflict between Canada and the United States continues to affect what Canadians buy and where they spend their vacations, the Bank of Canada's consumer survey revealed Monday. Half of consumers said they plan to cut their spending on U.S. goods and vacations south of the border. About 60 per cent say they plan to spend more on goods made in Canada and a third plan to spend more on vacations within their own country. 'I won't be going to the U.S. anytime soon. I don't feel good about spending my money there,' one respondent told the central bank. Price, however, still remains a key decider for many consumers, the survey said. Most Canadians said they would be willing to pay up to 10 per cent more for goods made in Canada. 'Ultimately, I'm going to do what works for my wallet. So, whether that's a Canadian brand, whether that's an American brand, I buy what works for my budget,' a survey participant said. Ontario Premier Doug Ford, Saskatchewan Premier Scott Moe and Alberta Premier Danielle Smith will sign a Memorandum of Understanding to build new energy and trade infrastructure at the premiers' meeting near Huntsville, Ont. Earnings: Canadian National Railway Co., General Motors Co., Coca-Cola Co., Halliburton Co., Lockheed Martin Corp., Equifax Inc., Baker Hughes Co., Capital One Financial Corp., Texas Instruments Inc. Canadian auto dealership chain on the hunt to buy competitors, dumps U.S. laggards Japan's bond market is flashing red. Here's why investors should pay attention Bank of Canada says inflation expectations easing as businesses hold off passing on tariff price hikes Millions of Canadians who want help managing their money seek out the services of a financial adviser. But the term itself refers to a wide variety of professionals with different specialties. And, depending on where you live in Canada, it can be used without specific qualifications, expertise or certifications. The Financial Post breaks down what a financial adviser can do, what credentials you can check for and how to find the right fit for you. Find out more Send us your summer job search stories Recently, we published a feature on the death of the summer job as student unemployment reaches crisis levels. We want to hear directly from Canadians aged 15-24 about their summer job search. Send us your story, in 50-100 words, and we'll publish the best submissions in an upcoming edition of the Financial Post. You can submit your story by email to fp_economy@ under the subject heading 'Summer job stories.' Please include your name, your age, the city and province where you reside, and a phone number to reach you. Are you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@ with your contact info and the gist of your problem and we'll find some experts to help you out while writing a Family Finance story about it (we'll keep your name out of it, of course). McLister on mortgages Want to learn more about mortgages? Mortgage strategist Robert McLister's Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won't want to miss. Plus check his mortgage rate page for Canada's lowest national mortgage rates, updated daily. Financial Post on YouTube Visit the Financial Post's YouTube channel for interviews with Canada's leading experts in business, economics, housing, the energy sector and more. Today's Posthaste was written by Pamela Heaven with additional reporting from Financial Post staff, The Canadian Press and Bloomberg. Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? Email us at posthaste@ Cracks widen in Canadians' record-breaking wealth creation Food manufacturers take drastic measures to fight U.S. tariffs Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
