CTV National News: What came out of meeting between Trump and Putin?
The highly anticipated meeting between Trump and Putin wrapped up in Alaska. Mike Le Couteur on what came out of it.
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Globe and Mail
29 minutes ago
- Globe and Mail
Letters to the editor, Aug. 18: ‘Pierre Poilievre should stick to constructive proposals and quit attacking Mark Carney'
Re 'The Trump-Putin summit isn't Munich, 1938. It's Paris, 1973″` (Report on Business, Aug. 15): U.S. Secretary of State Marco Rubio recently stated that, in order to bring the war in Ukraine to a conclusion, both Russia and Ukraine must make concessions. This framing ignores a fundamental truth: Russia is the aggressor, having invaded Ukraine first in 2014 and again in 2022. What concessions did the United States make to Japan to end the Second World War? Peter Rozanec Toronto Re 'Only outcome' (Letters, Aug. 15): 'Vladimir Putin started this and must pay the full price.' In a word: yikes. After the First World War, the Allies took the same approach: Germany had caused massive carnage, and so the German people should have to pay restitution. The government did not have the cash, so it fired up the printing presses. The resulting inflation obliterated the German middle class and set the stage for Adolf Hitler. Dealing with him cancelled out any cash the Allies received from the treaty ending the war, and then some. To their everlasting credit, Allied leaders learned from that experience. After the Second World War, there were no calls for reparations. Instead there were boatloads of rebuilding aid and, lo and behold, former enemies became customers and trading partners. Decades of prosperity followed. God forbid, but if the current situation evolves into world war, let's remember the lessons of the 20th century. Ken Johnston Ottawa Re 'Disquiet on the Western front of the tariff war' (Editorial, Aug. 14): I believe it is a mistake to think that if we hand over Canada's electric vehicle market to China, they will be kind and reliably buy our canola. We should not be buying anything from China, except where we have no choice. China is by far the world's most powerful autocracy. It is systematically taking over one economic domain after another, with EVs next in line. The more we buy from China, the more we empower a tyrannical and threatening regime. Losing the Chinese canola market hurts a lot. But it is a price we should pay to stand up to them. We should make a serious push to trade and collaborate with like-minded liberal democracies, which no longer includes the United States, and become more economically and militarily self-reliant. The powerful are on the march and have no use for rules. Elbows up. Jim Paulin Ottawa You note that the auto, steel and aluminum industry jobs being protected by the federal government are in 'Liberal-friendly ridings.' Without getting into a deep discussion of how far auto industry workers commute to get to their jobs, an examination of the Ontario ridings where auto assembly plants are located, and how they voted in the last election, reveals a large percentage in Conservative ridings. There is Stellantis Canada's head office in Windsor, along with a minivan assembly plant; Volkswagen's PowerCo electric vehicle battery plant in St. Thomas; General Motors's CAMI Assembly in Ingersoll; Toyota's assembly plants in Woodstock and Cambridge; Honda's assembly plant in Alliston; GM's assembly plant in Oshawa; the head office of Magna International, Canada's largest auto parts maker, in Aurora. As for Liberal ridings, there is the Stellantis car assembly plant in Brampton and Ford Canada's Oakville Assembly Complex and head office. Greg Keenan Editor, Trillium Network for Advanced Manufacturing; Toronto Re 'Carney says supports for canola sector coming after facing criticism from Poilievre' (Aug. 15): Hopefully the federal government will address the unfair impact of Chinese tariffs on canola growers. Wab Kinew made a good suggestion: Use money from electric vehicle tariffs to compensate canola producers. Pierre Poilievre made the same proposal, but also took shots at British Columbia's Chinese ferry contract and accused Mark Carney of not caring about the West. Notably he did not suggest removing EV tariffs, which might give Canadians access to reasonably priced cars. If Mr. Poilievre is serious about opposing Alberta separatists in his new riding, he should stick to constructive proposals and quit attacking Mr. Carney. He might even talk to the Prime Minister instead of demonizing him. We need all hands on deck to deal with the trade war; we don't need Mr. Poilievre firing from the sidelines. David Steele Saskatoon It's sad that China has suddenly put a huge tariff on Canadian canola, causing a huge loss to Western farmers who stand to lose so much. It's sad that this represents a huge chunk of our national economy, with so many jobs at stake. But we've been here before. Whenever China wants to harm Canada, it stops importing our canola. We learned this the hard way six years ago. So why have we let canola exports to China again become such a vulnerable part of our economy? John Horman Waterloo, Ont. Re 'Northern Ontario communities propose widening sections of Trans-Canada Highway' (Aug. 13): Widening the Trans-Canada Highway should be a no-brainer as an infrastructure project. This is also true in mountainous British Columbia, where the narrow TCH gets shut down regularly due to collisions or transport trucks going off the road. But rather than a piecemeal approach, there should be a federally funded national highway plan, perhaps modelled on the U.S. Interstate Highway System. Such a plan would improve the efficiency and safety of commercial, personal and defence transportation from coast to coast to coast. It would set design, construction and maintenance standards across Canada, with deep involvement by provinces, territories and local communities. Highway travel would also be more enjoyable and safe with regular rest stops and clean flush toilets, rather than the more common pit toilets. To achieve this latter need, perhaps a new government role is needed: a minister of toilets. Glenn Johanson Columbia–Shuswap Regional District, B.C. Re 'For Saskatchewan, Chappell Roan's name-check serves up a surge of interest' (Aug. 13): No one has yet name-checked the song Girl in Saskatoon by Johnny Cash and Johnny Horton. Those of us who lived in Saskatoon in 1960, which I did, could not help but feel a little proud of being singled out by the great country and western singer (though, actually, I truly dislike country and western music). The song has an odd and somewhat tragic history. Mr. Horton died shortly after penning the tune with Mr. Cash. And despite being promoted by the record label, the song never hit the charts – except in Saskatoon, of course. However after a Saskatoon woman, who performed the song on stage with Mr. Cash in 1961, was later murdered, he apparently never sang the song again. Perhaps this is why it has fallen out of our collective memories of Saskatchewan's pop music history. Nancy Bjerring London, Ont. Letters to the Editor should be exclusive to The Globe and Mail. Include your name, address and daytime phone number. Keep letters to 150 words or fewer. Letters may be edited for length and clarity. To submit a letter by e-mail, click here: letters@
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
Hot air coming from U.S. absurd
Opinion Winds change, weather patterns shift, and it's fair to say no one is ever completely sure what the meteorological outlook will be in the days and weeks ahead. But if there's one thing that's certain in this overheated Canadian summer, it's this: somewhere in this country, every day, there are communities choking under a thick blanket of wildfire smoke. Across Canada, mostly in the Prairies and most particularly in Manitoba, it seems, smoke has become so much a part of daily summertime life that air-quality alerts are routinely included in weather forecasts. In addition to being an annoyance that diminishes the quality of life and, in its most intense manifestations, is a potential health hazard, wildfire smoke is an almost-daily reminder of the consequences of climate change. As the planet continues to warm as a result of humanity's relentless poisoning of the atmosphere, summers have become hotter and drier, drought has become more prevalent and the conditions have been created in Canada's vast wilderness for fires that can spread with dizzying speed. And as we grapple with the realities of this environmental reckoning, the one thing we don't need is to be subjected to the gripes and hollow indignations of ill-informed individuals seeking to exploit the deepening climate crisis for spurious political gain. That, however, is exactly what arrived last month in the form of a letter penned to Canada's ambassador to the U.S. from Republican congressional representatives Tom Tiffany, Brad Finstad, Tom Emmer, Michelle Fischbach, Glenn Grothman and Pete Stauber of Wisconsin and Minnesota. Their jointly signed missive complained that wildfire smoke from Canada is crossing the border into their states and robbing their constituents of their ability to enjoy the summer. 'Our constituents have been limited in their ability to go outside and safely breathe due to the dangerous air quality the wildfire smoke has created,' the letter states. 'In our neck of the woods, summer months are the best time of the year to spend time outdoors recreating, enjoying time with family and creating new memories, but this wildfire smoke makes it difficult to do all those things.' Citing arson and mismanagement of forest resources as the causes of wildfires that have become more frequent and widespread in recent years — but, rather notably, not mentioning climate change at all — the U.S. politicians urged Canada to take 'proper action' to reduce the amount of smoke flowing over the border. Weekday Mornings A quick glance at the news for the upcoming day. What complete and utter nonsense. It should be noted, of course, that all six of these Trump-supporting representatives recently voted in favour of the U.S. president's controversial 'big, beautiful' budget bill, which delivers tax cuts to the wealthy but cuts funding for renewable energy projects and provides incentives for ramped-up production of fossil fuels. Manitoba Premier Wab Kinew quite rightly reacted immediately to the junk-mail delivery. 'This is what turns people off from politics,' he said, 'when you've got a group of congresspeople trying to trivialize and make hay out of a wildfire season where we've lost lives in our province. There's no place for that in politics.' There shouldn't be, but in the current version of the GOP led by a president who sought to politicize last winter's California wildfires by blaming that state's Democratic governor for the devastation, there most certainly seems to be a place for partisan nonsense-based posturing. Perhaps they could do their northern neighbours a favour by keeping their opinions on their own side of the Canada-U.S. divide. We've got enough problems dealing with wildfire smoke in our atmosphere without having to worry about a bunch of noxious hot air drifting northward across the border.
Globe and Mail
4 hours ago
- Globe and Mail
WTI Tests Key Support Ahead of Trump-Putin Meeting
WTI Crude Oil futures finished lower yesterday despite a risk-on rally in US equities and the bottom falling out on the Dollar. President Trump has continued to voice a positive outlook towards his Friday meeting with Putin, adding to trader angst as a ceasefire and the easing of sanctions is possibly on the table. Yesterday's CPI report was mixed. Inflation continues to be pesky, and the July report showed that pricing pressure was accelerating outside of tariff related goods. As these tariffs start to filter through more and more to the consumer, inflation will continue to accelerate (maybe), or, economic demand falls enough (stagflation). Globally, the economy looks to be at a do-or-die moment here. We still have no real clarity on tariffs moving forward – making things much more difficult. Fundamentally, OPEC+ and the EIA released longer term estimates that were somewhat friendly. OPEC's demand projections came out much higher than their international counterparts (as is tradition). The cartel, along with the the EIA also pared back 2026 US crude production estimates as the US rig-count continues to fall steadily. Existing well productivity has also showed signs of peaking in the Permian this year which is not great for US oil. Saying 'drill-baby-drill' alongside outlandish plans does not increase US production. Crude up in the $80-90 range does. And the only way to prices back to those levels is from robust and accelerating global trade. At this point, that is a pipe-dream. Today, the Dollar is once again seeing an outsized sell-off. Global confidence is eroding quickly in Dollar supremacy thanks to the continued attacks on the Federal reserve by the President. His statement about 'suing Powell' yesterday came alongside the idea of eliminating monthly Payroll Data. His latest appointment to the Fed board has started voicing radical ideas about reforming the Fed and the world is growing concerned. The macro environment is fraught with risks and clarity is lacking across a lot of asset classes. A sharp risk-off move in US equities is something to keep a close eye on. Attacking our central bank independence is not some limited consequence, hot-button social issue. There is significant risk to what he is doing. Attacking the Fed, while ramping the budget deficit, all while attacking our global trade and financing partners is taking its toll. The tectonic plates of the global monetary system are shifting, and if this continues, the ripple effects could get scary. Risk seems significantly underpriced across financial-assets, equities especially. Technical Analysis: Futures are trading into our longer-term pivot pocket and the picture is starting to look bleak. There is a probability that the catalyst we need will come out of the Trump-Putin meeting on Friday, but the rhetoric surrounding the meetup isn't pointing me in that direction. Significant downside risk is in play if Russian sanctions are eased. Their country is starved for hard currency and oil flows will be the quickest / only way they can right-size their foreign reserve balances and buoy the restart of their post-war economy. If Russian exporters are allowed back onto the board, and their banking sanctions are lifted, they will likely flood the market rapidly. Scenario two is that the meeting goes very poorly and we toughen up on Russian sanctions, a considerably bullish catalyst. Volatility looks underpriced. Shorter dated straddles look attractive through early next week. Generally, when my frustration levels hits this point, it's a sign a bottom is nearing. Intraday pivot and point of balance at… Want to stay informed about energy markets? 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