N.B. premier urges Ottawa to secure lumber deal
New Brunswick Premier Susan Holt is asking the federal government to secure a deal on softwood lumber with the U.S.
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Toronto Sun
25 minutes ago
- Toronto Sun
Trump's tariff hike hits the world days after U.S. struck Canada with higher duty
Published Aug 07, 2025 • 2 minute read President Donald Trump holds a chart as he announces a plan for tariffs on imported goods during an event April 2 in the Rose Garden at the White House. MUST CREDIT: Demetrius Freeman/The Washington Post Photo by Demetrius Freeman / The Washington Post WASHINGTON — U.S. President Donald Trump marked 200 days back in office on Wednesday by again hitting nations around the world with increased tariffs, days after slapping Canada with a 35 per cent duty. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account 'BILLIONS OF DOLLARS IN TARIFFS ARE NOW FLOWING INTO THE UNITED STATES OF AMERICA!' Trump posted on social media just after the duties came into effect. Trump escalated his trade war last week by hitting Canada with a baseline 35 per cent tariff that applies only to goods not covered by the Canada-United States-Mexico Agreement on trade, better known as CUSMA. Just after midnight on Thursday, U.S. tariffs on goods from more than 60 other nations and the European Union were increased. Duties range from a low of 10 per cent to 50 per cent on Brazil. The EU, Japan and South Korea — which brokered agreement frameworks with the Trump administration — saw tariffs increase to 15 per cent. Bangladesh and Vietnam were hit with 20 per cent duties. Switzerland saw its tariff increase to 39 per cent. Your noon-hour look at what's happening in Toronto and beyond. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Nations are also being hit with Trump's separate tariffs on steel, aluminum, copper and automobiles. 'Tariffs are flowing into the USA at levels not thought even possible!' Trump posted on social media. In fact, American tariffs are now at a level not seen in the U.S. in almost a century. The Budget Lab at Yale, a non-partisan policy research centre, has said Americans will see an average tax of 18.3 per cent on imported products, the highest rate since 1934. Ontario Premier Doug Ford told media outlet CNN on Wednesday that 'a tariff on Canada is a tax on the American people.' 'This is hurting the American people,' Ford said, adding that Canada and other countries are 'diversifying our trade.' Signs are emerging that Trump's tariffs are starting to drag down the American economy. After the release of a bleak job report last week, Trump fired the head of the agency that produces the monthly figures. This advertisement has not loaded yet, but your article continues below. The U.S. Commerce Department said inflation was ticking slightly upward in June. The greatest hurdle facing Trump's ongoing efforts to realign global trade may be the courts. Last week, Trump's use of a national security statute for the so-called 'Liberation Day' duties and fentanyl-related tariffs faced tough questions from federal appellate judges in the U.S. Court of Appeals for the Federal Circuit. The judges asked the Trump administration's lawyer about his use of the International Economic Emergency Powers Act of 1977 to impose duties — despite the fact the word 'tariff' is found nowhere in the statute. No decision was issued from the bench last week but the pending ruling was clearly weighing on the president just before his global tariffs came into place. 'THE ONLY THING THAT CAN STOP AMERICA'S GREATNESS WOULD BE A RADICAL LEFT COURT THAT WANTS TO SEE OUR COUNTRY FAIL!' Trump posted on social media just before midnight. — With files from The Associated Press Toronto Maple Leafs Columnists Celebrity Toronto & GTA Editorial Cartoons
CTV News
25 minutes ago
- CTV News
AI infrastructure spending trends ‘bode extremely well' for Brookfield: expert
Sorry, we're having trouble with this video. Please try again later. [5006/404] Brookfield Corp. and its subsidiaries are poised to benefit from governments and companies around the world increasing their spending on artificial intelligence infrastructure, an expert says. '(Brookfield) really has their hands in a lot of different aspects of our lives,' Christopher Ballard, managing director of Check Capital Management, told BNN Bloomberg in an interview Thursday morning. '(It's) in a perfect place to grow over a period of time as the world develops and it seems to be right on the cutting edge of this AI infrastructure build out… you don't really want to think about it on just a quarter-to-quarter basis.' Ballard's comments came after the Toronto-based company reported second-quarter earnings that showed deployable capital increasing to a record US$177 billion, as distributable earnings rose 13 per cent. He said the company and its subsidiary Brookfield Asset Management Ltd. continues to gain momentum through its wealth solutions business, which Ballard called 'their future growth engine.' 'They're making purchases on average of like fixed-income annuities, if you will, and taking those assets and redeploying them at much higher rates of return,' he explained. 'Last quarter they had $391 million of distributable earnings coming from that side of the business which continues to grow at a very rapid clip.' Brookfield, which manages over $1 trillion worth of assets within a diversified global portfolio that includes renewables, real estate and infrastructure, is also primed to take advantage of the nation-building spending plans being put forward by the federal government, Ballard said. 'The trends bode extremely well, and I believe that at some point in time they will do some partnerships in Canada,' he said. Prime Minister Mark Carney previously served as chair of Brookfield Asset Management before announcing his run for the Liberal Party leadership race early this year. Ballard said that as an investment, Brookfield is essentially a long-term infrastructure play, and the company is uniquely positioned to benefit from technological innovations that are underway across the world. 'You really do want to think of (Brookfield) as infrastructure, so that has to do with hydropower, electric power, and all power needed to drive these new AI infrastructures,' said Ballard. '(That's) where all the spending is going; they're on the cutting edge and kind of right in the middle of that forefront.'
CTV News
25 minutes ago
- CTV News
North American trade relationship in a ‘rough patch': former senior White House trade advisor
Former senior White House trade advisor Kelly Ann Shaw on the current state of trade relations in North America as Trump's latest tariffs take effect.
