
Premiers praise Carney and one another as they wrap up meetings in Ontario
'We can be proud of the work our federal government is doing, in fairness,' Moe said.
Moe has been one of the federal Liberal government's most vocal critics in recent years — and criticism of Ottawa is usually guaranteed when provincial leaders gather.
But as the country faces down U.S. President Donald Trump's trade war, the elbows-up, Team Canada approach seems to be winning out under Carney's government.
Ontario Premier Doug Ford praised the prime minister at every opportunity Wednesday, calling him a gentleman, humble and a brilliant businessman.
The premiers joked around, slapped each others' backs and dined at Ford's cottage this week. Carney slept at the cottage on Monday before joining the Council of the Federation meetings in Huntsville, Ont., on Tuesday for a discussion about trade talks with the U.S.
Premiers revealed little of what they learned in those discussions, with Aug. 1 fast approaching. That's the deadline Trump has set to raise tariffs on some Canadian goods to 35 per cent, and the day by which Carney has said he wants to strike a deal with the U.S.
Alberta Premier Danielle Smith said the Americans are signalling they will not start renegotiating the Canada-U.S.-Mexico Agreement on trade until 2026, something she called disappointing.
But Smith said Canada is working toward deals on specific sectors Trump is targeting, like vehicles, steel and aluminum, and lumber.
'If we can come up with some kind of common arrangement on those issues, those sectoral agreements by Aug. 1, we'll look at that as a win. And if it takes a little bit longer to renegotiate the Canada-U.S. free trade agreement to make sure that we get it right, then I'm supportive of that,' Smith said.
The prime minister and the premiers downplayed the value 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 and territories have signed agreements to open up internal trade, while others have committed to building pipelines to get oil and gas to new markets.
'No other group of premiers, as long as I can ever remember, have been able to sign 11 (memorandums of understanding),' said Ford, who is this year's chair of the Council of the Federation.
The premiers did release a list of things they said they want Ottawa to address.
In a statement issued Wednesday, they called on the federal government to improve Canada's trading relationship with China.
'You know what Churchill said, our enemy of our enemy is our friend, and I don't consider Americans the enemy, but right now President Trump himself is acting like the enemy,' Ford said.
The friction dates back to last fall, when Canada imposed a 100 per cent tariff on Chinese electric vehicles — matching a move by the Biden administration in the U.S. — and levies on a range of other goods, including EV batteries and parts, critical minerals, solar panels and semiconductors.
China hit back with 100 per cent tariffs on imports of Canadian canola oil and meal, and a 25 per cent levy on some pork, fish and seafood products.
'As long as China plays fair and doesn't undercut our markets, be it the auto sector or any sector, I have no problem dealing with them because we're already dealing with them,' Ford said, pointing out that Ontario imports about $40 billion worth of Chinese goods and exports back about $3 billion.
The premiers say they want the federal government to work toward removing Chinese tariffs from Canadian canola, peas, pork and seafood.
Manitoba Premier Wab Kinew said that while the relationship with China is complicated, the two countries must talk to each other.
'We have to have engagement,' he said. 'We can't turn away from the rest of the world, especially given what's going on with Mr. Trump.'
New Brunswick Premier Susan Holt said she's happy that Canada and China are now in active talks toward a trade deal.
'Given that we're now negotiating a completely new relationship with the U.S., we can get back to the table with China to work to remove the seafood tariffs that New Brunswickers are experiencing,' she said.
Moe and Ford said they are worried about steelworkers in their respective provinces, with three major steel plants feeling the brunt of U.S. tariffs on steel and concerns about China dumping steel into the market through proxy countries.
The federal government announced protectionist and anti-dumping measures targeting Chinese-made steel last week.
The premiers are also asking the federal government for changes to the bail system and more money for health care.
B.C. Premier David Eby insisted health care and the cost of living are perennial priorities for provincial governments, even though health didn't come up at the meeting with Carney.
'We have to be able to do multiple things at once in this country,' he said.
The premiers called for more action on immigration and said they're looking at ways to exercise more authority over that file.
Ford said Smith told her fellow premiers that Section 95 of the Constitution allows provinces to pass legislation related to immigration.
He said nearly 100,000 asylum seekers came to Ontario alone last year, and while many people want to work, it can take years for them to obtain work permits.
'We will be issuing our own work permits,' Ford said.
— Written by Liam Casey in Huntsville, Ont., and Sarah Ritchie in Ottawa with files from Hina Alam in Fredericton
This report by The Canadian Press was first published July 23, 2025.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Forbes
11 minutes ago
- Forbes
Seneca Nation Acquires Rochester Knighthawks Pro Lacrosse Franchise
The Seneca Nation, a federally recognized Indian tribe based in western New York, has acquired the Rochester Knighthawks, a National Lacrosse League franchise. Seneca bought the franchise from the Pegula family, which announced in June that it would sell the team team after owning it since 2019. The Seneca Nation is believed to be just the second Indian tribe to own a professional sports franchise outright, joining the Mohegan Tribe, which has owned the WNBA's Connecticut Sun since 2003. The Boston Globe reported on Saturday that a group led by Boston Celtics minority owner Steve Pagliuca had agreed to acquire the Sun for $325 million and move the team to Boston, but Pagliuca said a day later that the WNBA Board of Governors still needed to approve the transaction. The Hartford Courant reported on Monday that another investment group offered more than $300 million and would move the franchise to Hartford, Conn. The Mohegan Tribe also owned a stake in the New England Black Wolves of the NLL before selling the franchise in 2021. Terms of the Rochester deal were not disclosed, but NLL commissioner Brett Frood said 'from a league perspective, we are pleased with the trajectory of the enterprise value of our member properties.' The NLL consists of 14 franchises (eight in the U.S. and six in Canada) that play so-called box lacrosse, an indoor version of the sport that has different rules than the outdoor version. The Seneca Nation purchased the professional franchise through Seneca Holdings, LLC, a subsidiary formed in 2009 that invests in non-gaming businesses. Seneca Holdings' largest business focuses on federal government contracting. It also recently acquired CI Azumano, a travel agency, and operates Seneca Environmental, a renewable energy project company. The Seneca Nation also owns the Seneca Allegany Resort & Casino in Salamanca, N.Y., the Seneca Niagara Resort & Casino in Niagara Falls, N.Y., and the Seneca Buffalo Creek Casino in Buffalo through its Seneca Gaming Corp. subsidiary. J. Conrad Seneca, president of the Seneca Nation, said in an interview that the Knighthawks are the tribe's first sports investment. However, he added that the Nation has deep roots in lacrosse and has numerous leagues for its more than 8,600 enrolled members, ranging from youth organizations to competitions for older adults. Several members of the Seneca Nation have gone on to play in college, including Zed Williams, a former University of Virginia star who now plays in the NLL for the Colorado Mammoth. 'This is a new avenue for our Holdings team,' Seneca said. 'They've done a great job with regards to vetting this, doing our due diligence, working with our business council and preparing in negotiations with everybody involved. I think it's a great opportunity.' Seneca said the Knighthawks will retain their name, uniforms, colors and other marks for this season, which begins in late November and runs on weekends through April, followed by the playoffs that last through May. While Seneca said that 'we'll decide on what kind of changes we may make' after the season, he emphasized that the team will remain in Rochester. The Seneca Nation is about 100 miles southwest of downtown Rochester. The original Knighthawks had played in Rochester before moving to Halifax, Nova Scotia in 2019. That year, the Pegulas acquired the team's intellectual property and re-launched the team in Rochester. Terry Pegula, who has a net worth of $7.6 billion according to Forbes, and his family will continue to own the Buffalo Bills and Buffalo Sabres as well as the Rochester Americans' minor league baseball franchise and the Buffalo Bandits of the NLL. 'The league has worked closely with the Pegula's management team on ideal targets to take over ownership of this franchise,' Frood said. 'It became clear that the Seneca Nation, with its myriad of synergies, quickly became a priority conversation for us. We have spent the last couple months nurturing the relationship, walking through the potential of partnership, and ultimately agreeing that the Nation is a phenomenal fit for the NLL and the community of Rochester.' J. Conrad Seneca, who once owned a stake in a semi-pro indoor lacrosse team, said it was important for him and the Seneca Nation to acquire the franchise due in part to keeping the franchise in Rochester. He remembers the NBA's Buffalo Braves leaving the city in 1978 and relocating to San Diego, where it became known as the San Diego Clippers. 'It was a tough thing to fathom,' he said. 'It was a tough thing to accept that our team was gone. I know the feeling of that, and I think this opportunity that's presented itself to the Seneca Nation and with our commitment to the game of lacrosse, we have a lot to bring to the table…We look forward to being a part of that community and building our relationships in the community of Rochester.'

Yahoo
39 minutes ago
- Yahoo
Canada's First Quantum strikes $1 billion gold streaming deal with Royal Gold
(Reuters) -Canadian miner First Quantum Minerals said on Tuesday it has signed a $1 billion gold streaming agreement with a subsidiary of its Canadian peer Royal Gold. Gold streaming is a financing mechanism in which a buyer makes an up-front payment to a miner in exchange for purchasing future production from the miner, usually at a predetermined price.


CNBC
an hour ago
- CNBC
How an obscure SEC proposal could boost listings on European stock exchanges
A little-known regulatory proposal taking shape in the United States could deliver a welcome boost to Europe's stock exchanges, which have been struggling for years to stem an exodus of companies to New York. The Securities and Exchange Commission is in the early stages of a proposal to tighten the rules for foreign companies that trade on U.S. exchanges, a move that could inadvertently prompt dozens of stocks to seek a secondary listing in London or another major financial center. The plan targets the definition of a "Foreign Private Issuer" — a status that allows non-U.S. companies — like chip stock Arm and media company Spotify — to avoid some of the SEC's most stringent regulatory requirements, such as the exemption from quarterly reporting. One of the key changes being floated would require FPIs to have an active listing on a "major" non-U.S. exchange to qualify for these benefits. Legal experts say most companies that are currently listed only in the U.S. but incorporated elsewhere would choose to have a second listing rather than face the full burden of complying with U.S. domestic reporting standards. "It could inadvertently stimulate the London markets," said Robert Newman, co-head of UK capital markets at law firm DLA Piper, which advises listed companies on listing decisions. The potential shift comes as European exchanges are grappling with several high-profile companies that have increasingly opted to list in the U.S., lured by higher valuations and greater liquidity. The regulatory loophole The SEC's proposal stems from what it sees as a growing regulatory loophole. When the FPI framework was created, it was built on the assumption that foreign companies listing in the U.S. were already subject to "meaningful disclosure and other regulatory requirements in their home country jurisdictions." But that's changed dramatically over the past two decades, according to the SEC's concept release outlining the proposal. In 2003, the most common homes for these companies were the U.K. and Canada, both with regulatory regimes familiar to the SEC. By 2023, the most common jurisdiction of incorporation was the Cayman Islands, known for its limited corporate governance and disclosure rules. Meanwhile, mainland China has become the most common headquarters location. "From the SEC's perspective, this universe of foreign private issuers is subject to a lighter touch regime in the U.S., but they're not subject to significant oversight in their home jurisdiction," said Mike Bienenfeld, a U.S. lawyer specializing in SEC compliance at law firm Linklaters. Bienenfeld cautioned that it was difficult to predict the results of the early-stage proposal as the SEC could also choose to take no action or arrive at a different outcome. What if the proposal becomes a rule? However, should the SEC move forward with a foreign listing requirement, affected companies would face a choice between taking on a new listing overseas or subjecting themselves to the more rigorous oversight regime applicable to U.S. domestic companies. This includes filing detailed quarterly reports, rather than providing updates just twice a year. Companies would have to convert their accounting from International Financial Reporting Standards (IFRS) to U.S. Generally Accepted Accounting Principles (U.S. GAAP), a significant undertaking, according to Linklaters' Bienenfeld. They would also become subject to U.S. proxy rules, votes for executive compensation, and stricter insider-trading reporting requirements. "It's not an insignificant cost, particularly for a lot of these smaller companies," said John Stone, a U.S. securities lawyer at DLA Piper, adding that most companies would opt for a secondary listing in a major jurisdiction instead. If the SEC goes ahead, it will kick-start competition among global stock exchanges. The London Stock Exchange, with its deep historical ties to capital markets and a regulatory framework the SEC knows well, could be a significant beneficiary. "I think, to the extent the SEC chooses to really enforce the original intention of this rule, that could require companies to list elsewhere," said David Schwimmer, chief executive of the London Stock Exchange Group . "London would be the natural location for that." However, it won't be the only contender. Exchanges in the Euronext network—which includes Paris, Amsterdam, and Dublin—as well as those in Canada and Hong Kong, could vie for these secondary listings. Nasdaq operates several exchanges in the Nordics that could compete too. Ultimately, the decision for companies will depend on factors like cost, access to deep capital pools, the efficiency of the listing process, and access to quality research analysts. "It is certainly something that we talk to potential listers about," Schwimmer added. The push back Many foreign companies that are currently listed on a U.S. exchange have expressed their reservation at the SEC's concept release. Nasdaq-listed Virax Biolabs , a U.K.-headquartered healthcare and diagnostics company, said the SEC's proposal would "impose an unreasonable and material compliance burden" and "unintentionally penalise" them. Virax has no business operations or infrastructure in the U.S. and its Cayman island entity "serves purely as a legal listing vehicle", according the company. "We support thoughtful regulatory oversight and understand the SEC's intent," James Foster, chief executive of Virax told CNBC. "However, applying a rigid ownership threshold without considering operational substance risks creating uncertainty for compliant global issuers — especially those in emerging sectors like biotech." In a submission to the SEC , Foster added that if Virax becomes a more U.S.-focused business, it "would voluntarily transition to U.S. domestic filer status" instead.