Kinross announces sale of shares of White Gold
TORONTO, July 25, 2025 (GLOBE NEWSWIRE) — Kinross Gold Corporation ('Kinross' or the 'Company') (TSX: K, NYSE: KGC) announced today that it has sold an aggregate of 23,681,160 common shares of White Gold Corp. ('White Gold') representing all of the common shares held by Kinross. The shares represent approximately 12% of the outstanding White Gold common shares. The shares were sold at an average sales price of $0.29 (excluding commission), representing an aggregate sale price of $6,869,905.51.
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Toronto Star
16 minutes ago
- Toronto Star
Donald Trump signs executive order hiking tariffs to 35% on some Canadian goods
OTTAWA — U.S. President Donald Trump signed an executive order late Thursday hiking tariffs on certain Canadian goods to 35 per cent, with no deal materializing between Ottawa and Washington as the clock ticked towards an Aug. 1 deadline to reach a trade agreement. A fact sheet issued by the White House confirms that tariffs on Canadian goods that don't comply with the Canada-U.S.-Mexico Agreement (CUSMA) will jump from 25 per cent to the 35 per cent Trump threatened to impose earlier in July, if Canada failed to take further action on halting the flow of fentanyl across the border.
Calgary Herald
16 minutes ago
- Calgary Herald
Trump raises tariffs on Canada to 35%, keeps USMCA exemption
President Donald Trump said the U.S. will put a 35 per cent tariff on some imports from Canada after trade negotiations between the two countries broke down. Article content The new rate represents an increase from the 25 per cent tariffs Trump imposed in early March under an emergency law. Article content Article content 'Canada has failed to cooperate in curbing the ongoing flood of fentanyl and other illicit drugs, and it has retaliated against the United States' for Trump's earlier tariffs, the White House said in a fact sheet published Thursday evening. Article content Article content But the U.S. administration kept in place an exemption for goods traded under the rules of the U.S.-Mexico-Canada trade agreement. U.S. automakers and other companies with integrated North American supply chains had pushed for that carve-out, which has allowed U.S. importers to continue bringing in the bulk of Mexican and Canadian products without duties. Article content Article content Because of the USMCA exemption, the effective tariff rate on U.S. imports of Canadian goods was around five per cent, according to estimates published July 30 by the Bank of Canada. That will now rise slightly. Article content 'We still have a buffer against the latest round of tariffs,' said Fen Hampson, an international affairs professor at Carleton University in Ottawa. Article content Trump's move escalates a trade war between two longstanding allies that until this year had largely operated on a tariff-free basis since the late 1980s. The U.S. bought around $475 billion of goods and services from Canada last year, while exporting approximately $440 billion to Canada, led by vehicles, auto parts and consumer products, according to data from the U.S. Commerce Department and Statistics Canada. Article content Article content Fentanyl intercepted at the northern U.S. border is a small fraction of the amount seized at the frontier with Mexico, according to data from US Customs and Border Protection. Since Trump won last year's election, the Canadian government has committed to spending $1.3 billion on bolstering border security, including to hire more officers and add patrol helicopters and other equipment. The government also tapped a former senior cop from the Royal Canadian Mounted Police as the country's 'fentanyl czar' to fight trafficking. Article content Earlier on Thursday, Trump agreed to extend his previous arrangement with Mexico for 90 days. Article content Article content Since winning an election in April, Prime Minister Mark Carney has sought to create goodwill with Trump by agreeing to a number of the president's demands. His government announced a sharp increase in military spending and agreed to eliminate a digital services tax that would have cost U.S. technology companies billions of dollars over time.
Vancouver Sun
an hour ago
- Vancouver Sun
Trump says he hasn't 'spoken to Canada' as Friday's deadline for 35% tariffs approaches
WASHINGTON — U.S. President Donald Trump has signed an executive order pushing tariffs on Canada to 35 per cent beginning on Friday. The White House confirmed the tariffs would not hit goods compliant with the Canada-U.S.-Mexico Agreement on trade, commonly known as CUSMA. Earlier Thursday, Trump said he has not 'spoken to Canada' as the Aug. 1 tariff deadline looms. Trump did say that 'he's called' — suggesting Prime Minister Mark Carney may have reached out hours before a 35 per cent tariff is set to hit Canada. The Canadian Press has contacted Carney's office for confirmation but has not yet received a response. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. The White House released a statement on Thursday saying that Trump has signed an executive order to increase the tariff. The statement again blames the hike on Canada's 'inaction' in stoping 'fentanyl and illicit drugs flowing across the northern border' — despite evidence that very little illicit fentanyl comes from Canada. Trump dampened expectations of a deal with Canada this week in a post on social media early Thursday morning. Trump said it will be very hard to make a deal with Canada after Carney announced Wednesday that Ottawa intends to recognize a Palestinian state. Trump told reporters at the White House Thursday he 'didn't like that' but that it was 'not a deal-breaker.' When asked about the holdup in Canadian negotiations, Trump said 'they have to pay a fair rate.' The president also misrepresented agricultural duties, complained about Canadian military spending and said Canada has been treating the United States badly for years. 'We like Canada, I love Canada, I have so many friends in Canada but they've been very poorly led,' Trump said. 'They've been very, very poorly led and all we want is fairness for our country.' Commerce Secretary Howard Lutnick told Fox Business Network that Carney's decision on Palestine was 'tone deaf' and he didn't see the president 'stepping off the gas.' He added that Canada hasn't 'solved dairy' and pointed to Ottawa's retaliatory tariffs that remain in place. If Carney calls Trump and 'turns on the charm,' removes retaliatory duties and 'stops the silliness,' the president might 'let it down a bit,' Lutnick said. Trump previously sent a letter to Carney threatening to impose 35 per cent tariffs if Canada doesn't make a trade deal by Friday. The White House has said those duties would not apply to goods compliant with the Canada-U.S.-Mexico Agreement on trade, better known as CUSMA. Trump did announce Thursday a 90-day extension on trade talks for Mexico after a phone conversation with President Claudia Sheinbaum. He said it was because the 'complexities of a Deal with Mexico are somewhat different than other Nations because of both the problems, and assets, of the Border.' 'Additionally, Mexico has agreed to immediately terminate its Non Tariff Trade Barriers, of which there were many,' Trump said. 'We will be talking to Mexico over the next 90 Days with the goal of signing a Trade Deal somewhere within the 90 Day period of time, or longer.' Mexico already recognizes a Palestinian state. White House Press Secretary Karoline Leavitt did not rule out further extensions and said there was still time for countries to negotiate ahead of the midnight deadline. 'I do know that other foreign leaders around the world have reached out,' she said. While Trump continued to claim in posts on social media that tariffs are making 'America GREAT & RICH Again,' the president's main tool for realigning global trade faced some sharp questions from federal appellate judges in court Thursday morning. The Trump administration's lawyer argued in the U.S. Court of Appeals for the Federal Circuit that there are still checks and balances on the president's powers and he has the authority to use a national security statute to impose duties — despite the fact that the word 'tariff' is found nowhere in the International Economic Emergency Powers Act of 1977. The act, usually referred to by the acronym IEEPA, gives the U.S. president authority to control economic transactions after declaring an emergency. No previous president had ever used it for tariffs and the U.S. Constitution reserves power over taxes and tariffs for Congress. Members of the 11-judge panel on Thursday repeatedly questioned the Trump's administration's justifications for using IEEPA to implement the so-called 'Liberation Day' and fentanyl-related tariffs 'If the president says there's a problem with our military readiness and he puts a 20 per cent tax on coffee, that doesn't seem to necessarily deal with (it)' said Chief Circuit Judge Kimberly Moore. Thomas Berry, with the Washington-based Cato Institute, said in a media statement that 'based on the tenor and questions of the arguments, it appears that the challengers have the better odds of prevailing.' The Cato Institute, which opposes the IEEPA tariffs, provided the hearing with an amicus brief — a legal submission from a group that's not party to the action. No decision was issued from the bench Thursday and Leavitt has said they expect the case to go before the Supreme Court. — With files from The Associated Press Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
