N.B. Premier Susan Holt describes throne speech experience
Premier Susan Holt said the speech from the throne contained good news for New Brunswick. She also said it was a unique experience to be with the King and the prime minister when 'a room full of people who are dedicated to serving this country acknowledge that we are the true north, strong and free.
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Globe and Mail
27 minutes ago
- Globe and Mail
Trump and Xi agree to further talks to settle trade disputes between U.S., China
U.S. President Donald Trump and Chinese leader Xi Jinping agreed to further talks between the countries to hash out differences on tariffs that have roiled the global economy, according to U.S. and Chinese summaries of their phone call on Thursday. 'There should no longer be any questions respecting the complexity of Rare Earth products,' Trump wrote on social media. 'Our respective teams will be meeting shortly at a location to be determined.' Trump and a Chinese government summary of the meeting said the leaders had invited each other to their respective countries at a future date. 'The U.S. side should take a realistic view of the progress made and withdraw the negative measures imposed on China,' the Chinese government said in a statement published by the state-run Xinhua news agency. 'Xi Jinping welcomed Trump's visit to China again, and Trump expressed his sincere gratitude.' Beijing envoy urges Ottawa to end tariffs on Chinese EVs and warns against 'Cold War mentality' The highly anticipated call came amid accusations between Washington and Beijing in recent weeks over 'rare earths' minerals in a dispute that has threatened to tear up a fragile truce in the trade war between the two biggest economies. The countries struck a 90-day deal on May 12 to roll back some of the triple-digit, tit-for-tat tariffs they had placed on each other since Trump's January inauguration. Though stocks rallied, the temporary deal did not address broader concerns that strain the bilateral relationship, from the illicit fentanyl trade to the status of democratically governed Taiwan and U.S. complaints about China's state-dominated, export-driven economic model. Since returning to the White House in January, Trump has repeatedly threatened an array of punitive measures on trading partners, only to revoke some of them at the last minute. The on-again, off-again approach has baffled world leaders and spooked business executives, who say the uncertainty has made it difficult to forecast market conditions. How a Canadian suit maker got slammed by Trump's China tariffs China's decision in April to suspend exports of a wide range of critical minerals and magnets continues to disrupt supplies needed by automakers, computer chip manufacturers and military contractors around the world. Beijing sees mineral exports as a source of leverage – halting those exports could put domestic political pressure on the Republican U.S. president if economic growth sags because companies cannot produce mineral-powered products. The 90-day deal to roll back tariffs and trade restrictions is tenuous. Trump has accused China of violating the agreement and has ordered curbs on chip design software and other shipments to China, while also doubling steel and aluminum tariffs to 50%. Beijing rejected the claim and threatened countermeasures. In recent years, the United States has identified China as its top geopolitical rival and the only country in the world able to challenge the U.S. economically and militarily. Despite this and repeated trade threats and tariff announcements, Trump has spoken admiringly of Xi, including of the Chinese leader's toughness and ability to stay in power without the term limits imposed on U.S. presidents. Trump has long pushed for a call or a meeting with Xi, but China has rejected that as not in keeping with its traditional approach of working out agreement details before the leaders talk. The U.S. president and his aides see leader-to-leader talks as vital to sort through log-jams that have vexed lower-level officials in difficult negotiations. Thursday's call came at Trump's request, China said. It's not clear when the two men last spoke. Both sides said they spoke on Jan. 17, days before Trump's inauguration and Trump has repeatedly said that he had spoken to Xi since taking office on Jan. 20. He has declined to say when any call took place or to give details of their conversation. China had said that the two leaders had not had any recent phone calls. The talks are being closely watched by investors worried that a chaotic trade war could cut into corporate earnings and disrupt supply chains in the key months before the Christmas holiday shopping season. Trump's tariffs are also the subject of ongoing litigation in U.S. courts.
Globe and Mail
27 minutes ago
- Globe and Mail
Carney and Trump holding secret talks on trade and security, U.S. envoy says
Prime Minister Mark Carney is holding direct and secret talks with U.S. President Donald Trump to iron out a framework for a trade and security agreement, says the U.S. Ambassador to Canada. Peter Hoekstra told The Globe and Mail that talks between the leaders and top cabinet ministers are being held under a cone of silence to ensure a positive outcome. The Prime Minister and the President met in the Oval Office on May 6 but there has been no indication until now that they had been holding direct negotiations. 'You have the relationship and the discussions between the President and the Prime Minister,' he said, adding 'they have had conversations, more than just the Oval Office.' 'The indications that they are talking and in communications regularly is a clear indicator to me that both sides recognize the importance and the urgency of moving this forward.' The talks include Trade Minister Dominic LeBlanc and U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer, he said. Mr. Hoekstra said the Canadians and Americans are 'laying out the perimeters' of a deal that could involve boosting U.S. content in autos, improving U.S. access to Canadian critical minerals and ensuring Canada plays a much bigger role in the Arctic. The talks also include increased defence spending, energy, border security, fentanyl as well as steel and aluminum. The current talks are solely between Canada and the U.S. and do not involve Mexico, the ambassador said. But he said the Canadians and Americans want the talks to be successful, which is why they are working hard to ensure there no leaks. 'This is too important for it be managed by leaks. There is too much at stake. You are our second largest trading partner,' he said. Mr. Hoekstra said it was entirely possible that a deal could be reached before September, something the Prime Minister alluded to last week. 'Sure, September is possible. Is possible to be earlier. Sure. Is it possible that it will be later, sure,' he said. 'When the President is ready to announce an agreement and the Prime Minister is ready to announce an agreement. That is when that will happen.' More to come
Globe and Mail
27 minutes ago
- Globe and Mail
Financial lessons from a woman whose husband died suddenly at 39
If you can't find the time or motivation to plan financially for your death or a serious illness, please read Jane Blaufus's book. It's called With the Stroke of a Pen: Claim Your Life, and it includes a 33-page checklist of questions for working through the process of helping family members sort through your affairs when you die. The checklist is helpful, but so is Ms. Blaufus's personal experience after the loss of her husband. To hear more, check out this e-mail Q&A I did with Ms. Blaufus: Q: Jane, can you tell us in both a personal and professional sense how you came to write your book? A: My 39-year-old husband walked out the door one Sunday morning, and that afternoon a police officer arrived in my driveway to share the news that he had been killed in an accident. In less than 60 seconds, the world I knew had been turned upside down and I had become a widow with a 12-year-old daughter and a financial tsunami coming my way. By that time, I had been in the life insurance industry for 16 years and had foolishly thought that if anything ever happened to me that I would be better prepared than others. Wrong. I was blindsided by so many unexpected things and thought that if I wasn't prepared, despite all of my knowledge and expertise, what would the average person do in that situation? Fast forward to today and I am happily remarried to a wonderful man who was also widowed after his wife suffered an illness. We collectively decided to pay it forward by sharing our story to help prevent other families from going through what we did. Q: In the conversations you've had with readers, friends, family and clients in your professional life, what have you learned about the capacity people have for preparing for their own death and the death of loved ones? Do we ever get to a point where nine in 10 people have a will, powers of attorney and made other preparations? A: Unfortunately, most people are terrified to talk about death and illness. For many it is like looking their own mortality in the face, but these conversations are crucial because we have an obligation to ourselves and those we love to leave this world in an organized manner. The last thing someone needs when a loved one has become ill or died is to be running around trying to find all the pertinent documents needed to make decisions about medical care or funeral arrangements. Sadly, I do not think we will ever get to the point where nine in ten people will have had these important conversations. Q: If you were to list some of the top things to do to make sure your loved ones are prepared in case of your death, what would they be? A: To start, make sure your loved ones know what your final wishes are. I had asked my husband four times what he would want if anything happened to him and he would always change the subject. When he died, I had to plan a funeral as if I had been blindfolded; it was horrible. Next, make sure you have a current, up-to-date will and powers of attorney for both medical and financial matters. You would not believe the number of times I have heard stories about couples divorcing and the ex-spouse gets everything because the will was never changed. Also, make sure you have enough life insurance for today. Do not stick your policy in a drawer, as things have a way of changing over time. Also, if you have a special needs member of the family, make sure you have provided for them to be cared for in the future. Please make sure all of the beneficiary designations are correct and current as well. And, make sure you have assembled all of your important documentation into one central location, and make sure everyone who should know where it is, does. Your loved ones and your executor should be able to quickly and easily access this information. Speaking of executors, make sure you have asked your executor and legal guardians for your underage children if they willingly accept the role and associated responsibilities. Do not simply assume they will, because if they decline to accept the role after you are gone, you cannot make changes from the grave. Q: What do you think about bringing your adult children into the discussion of what happens when you die? How old should kids be for this conversation? A: This is a very important question, and I believe it is critical to bring them into the discussion, especially today, where there are so many blended families. Having them involved in the conversation can mitigate so many issues that have the potential to erupt after someone dies. As for your question about how old they should be, I would leave this in the parents' hands to determine the age, as they will know their child's maturity level better than anyone else. However, at the latest, I personally would bring them in when they reach adulthood. My poor daughter has had more of these conversations than I think she would care for! Q: Looking back on your own experience when your husband died, what types of advance planning had you done and how did they help in the aftermath? A: The year before my husband died, we had met with our financial advisor to review our investments and life insurance policies. We actually purchased more insurance as things had changed from our last review. The life insurance my husband lovingly put in place for us became a financial lifeline that helped me as I tried to get back on my feet and return to work. We also reviewed our wills with our lawyer, which made settling his estate much easier for me. Q: I've seen some apps and software over the years that were designed to help people organize themselves for when they die, but none seems to have taken off. Do you think the right app could help people engage more with this type of planning, and do you know any apps people should check out? A: I personally do not think an app would engage more people and I do not have a go-to suggestion to offer. What I have done in my book is provide my readers with a checklist designed to help get the conversations going with the people you need to be having them with. It serves as a workbook to help people get their personal and financial lives in order while they can. Are you reading this newsletter on the web or did someone forward the e-mail version to you? If so, you can sign up for Carrick on Money here. Dollarama vs. Costco A nine-product price comparison, including staples like tomato sauce and paper towels. Would you buy a Canadian car? How feasible would it be to tap into Buy Canada sentiment by launching an actual Canadian car company? Foreign companies assemble vehicles in this country, but there are no Canadian automakers. Fixing the problem of too much stuff Advice on de-cluttering from YouTube's The Minimal Mom. The emphasis is on making your living space more comfortable, not throwing a lot of stuff out. Life with the Cybertruck An amusing take on what it's like to drive the Tesla Cybertruck, which starts around $120,000 in Canada. A recent report from J.D. Power shows that in the segment of people who say they are likely to consider an electric vehicle for their next purchase, Tesla has dropped to eighth place after four years among the top two. Subscribe to Stress Test on Apple Podcasts or Spotify. Ask Rob Q: What should the investing approach for seniors be for stocks versus guaranteed income certificates? One, both, neither? A: Both can work well. Stocks for long-term growth and dividend income, GICs to supplement bonds as a source of interest income and stability when stocks decline. An all-stocks approach is too risky for most seniors, while all GICs means a sacrifice of growth for safety. The 5 per cent GIC yields of a few years ago far exceed today's peak rates of 3.5 to 3.95 per cent. Tools and guides This new retirement planning calculator was created by a team including Ben Felix, a portfolio manager who has done a lot of great educational work. In the social sphere Social Media: A LinkedIn discussion about a column I wrote recently about a proposal to tax real estate investment properties. Watch: Toronto's spring housing market: Dead on arrival Money-Free Zone: The band Wye Oak strips down the Kate Bush song Running Up That Hill to the basics, and makes it work. Here's the great, more ornate original version. More PF from The Globe - They downsized to save money and simplify their lives. Here's what they wished they'd known - For travel-loving Canadians, other financial goals take a back seat to vacation spending - When did tipping diverge from a reward for good service to a wage-subsidization tactic?
