Trump increases tariffs on some Canadian goods to 35 per cent
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Global News
19 minutes ago
- Global News
As Trump hikes tariffs, B.C. jobs minister urges Carney to ‘negotiate hard'
British Columbia's minister of jobs and economic growth is urging the federal government to stand firm and 'negotiate hard' when trying to find a solution to 35 per cent tariffs imposed by U.S. President Donald Trump's Ravi Kahlon's advice to Prime Minister Mark Carney and his negotiating team is to keep up what they're doing, and 'find a path forward the best they can.' A statement from Premier David Eby's office says he remains focused on protecting workers and businesses in B.C. from the 'deeply harmful tariffs' imposed by Trump's administration. It says Eby supports the federal government's efforts to get a 'good deal' for Canada, adding that he looks forward to speaking to the prime minister about the situation. 1:09 Scott Moe says Canada should lower or remove counter-tariffs on the U.S. The United States imposed a 35 per cent tariff on all Canadian goods outside the Canada-United States-Mexico Agreement on free trade after an agreement couldn't be reached by the Aug. 1 deadline. Story continues below advertisement Several other jurisdictions, including the United Kingdom and the European Union, have reached deals before the deadline. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Kahlon said Trump is 'constantly finding ways to raise the temperature' so 'they can squeeze out the most' from any agreement. He said he believes Carney and Canada-U.S. Trade Minister Dominic LeBlanc are taking the right approach, 'which is keeping their head down, continue to be at the table, continue to find solutions, and not getting distracted by the day-to-day swings of the president of the United States.' He said he would also highlight the importance of the softwood lumber industry for B.C., which is just as crucial as the auto industry is to Ontario. 'The forest sector here in British Columbia should get the same support,' Kahlon said. Both Eby and Kahlon have repeatedly argued that the long-running softwood lumber dispute with the United States should be part of a larger deal. 5:53 CCPA on new Trump tariffs against Canada Brian Menzies, executive director of the Independent Wood Processors Association of British Columbia, said he is 'not very optimistic' that a future deal would also resolve the softwood dispute as the industry already faces combined tariffs and duties of almost 35 per cent. Story continues below advertisement 'We have been at this for eight years now, and there doesn't seem to be enough of a push on the American side to resolve this,' he said. Menzies also favours ongoing negotiations with the United States to resolve the tariff dispute. 'I would say it's better to get a good deal than a bad deal,' he said. 'I'd say right now, 'Do your best to stand up for what's important for Canada,'' he said. Menzies said being 'kowtowed and pushed over' is not good for Canada or the United States. 'People respect people who stand up for what's important to them, and that's the basis for any negotiation,' Menzies said. Menzies noted that any future deal with the United States might not last long, given Trump's temperament. Kahlon agreed. 'We take nothing for granted,' he said. 'It's a sad state for us in Canada to have a partner down south that doesn't honour a handshake, an agreement,' he said. 'It's hard to do business with somebody that is hard to trust when these things come.' Kahlon added that even the United Kingdom and the European Union are not sure if they actually have agreements with the United States. Story continues below advertisement 'So the uncertainty continues,' he said.
National Post
19 minutes ago
- National Post
Mogo Files Early Warning Report Following Partial Disposition of Shares of WonderFi Technologies
Article content VANCOUVER, British Columbia — This news release is issued by Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) ('Mogo' or the 'Company') pursuant to the early warning requirements of Canada's National Instrument 62-104 and National Instrument 62-103 with respect to common shares ('WonderFi Shares') of WonderFi Technologies Inc. (TSX: WNDR, OTCQB: WONDF) ('WonderFi'), a corporation with a head office at 371 Front Street West, Suite 304, Toronto, Ontario, M5V 3S8. Article content On August 1, 2025, Mogo, through its wholly owned subsidiary Mogo Financial Inc. ('Mogo Financial'), disposed of 40,000,000 WonderFi Shares by way of private agreement (the 'Sale Transaction'). As a result of the Sale Transaction, Mogo's holdings in WonderFi decreased to less than 10% of the issued and outstanding WonderFi Shares. Article content Article content Immediately prior to the Sale Transaction, Mogo had beneficial ownership of, indirectly through Mogo Financial, and exercised control and direction over, 81,962,639 WonderFi Shares, representing approximately 12.39% of the issued and outstanding WonderFi Shares. Upon completion of the Sale Transaction, Mogo had beneficial ownership of, indirectly through Mogo Financial, and exercised control and direction over 41,962,639 WonderFi Shares, representing approximately 6.34% of the issued and outstanding WonderFi Shares. Article content The WonderFi Shares disposed of under the Sale Transaction were sold for investment purposes. Mogo is holding the remaining WonderFi Shares for investment purposes and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over WonderFi Shares or other securities of WonderFi through market transactions or private agreements. In the ordinary course of managing its investment in the WonderFi Shares, Mogo may continue to engage with the board and management of WonderFi from time to time on various matters, including but not limited to WonderFi's business, strategy, board and management. Article content An early warning report (the 'Report') of Mogo will be filed on WonderFi's SEDAR+ profile at and can be obtained from Mogo at its head office 516-409 Granville St, Vancouver, BC, V6C 1T2, attention: Christy Cameron, or phone: 604.659.4380. Article content About Mogo Article content Mogo Inc. (NASDAQ:MOGO; TSX:MOGO) is on a mission to build the future of intelligent finance, empowering consumers to grow wealth through a suite of innovative financial products and a capital strategy anchored by Bitcoin. The company's platform combines digital wealth management and lending with a growing commitment to hard asset capital allocation. Mogo is publicly listed on the NASDAQ and TSX. Article content Forward-Looking Statements Article content This news release may contain 'forward-looking statements' within the meaning of applicable securities legislation, including statements regarding the filing of the Report and the disposition or acquisition of additional WonderFi Shares or other securities of WonderFi by Mogo. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo's growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, many of which are outside of Mogo's control. For a description of the risks associated with Mogo's business please refer to the 'Risk Factors' section of Mogo's current annual information form, which is available at Article content Article content Article content Article content Article content Article content
Globe and Mail
44 minutes ago
- Globe and Mail
Why Arm Holdings Stock Sank by Over 15% This Week
Key Points The company's second-quarter results displeased many investors. They also inspired some analyst price target cuts. 10 stocks we like better than Arm Holdings › Arm Holdings (NASDAQ: ARM) felt something like an unwanted limb over the past few days, largely because of an earnings report that struck the wrong chord with more than a few investors. Several analyst price target cuts only highlighted this disappointment. Ultimately, according to data compiled by S&P Global Market Intelligence, the specialty tech company's shares plummeted by over 15% this week. Top-line growth, bottom-line slide U.K.-based Arm published its results for the first quarter of its fiscal 2026 on Wednesday. The report showed that the company managed to increase its total revenue by 12% year over year to slightly more than $1.05 billion. That was largely due to a 25% increase in royalty revenue, which landed at $585 million, and despite a 1% slump in licensing revenue to $468 million. Non- GAAP (adjusted) net income traveled in the opposite direction. It fell to $374 million, or $0.35 per share, compared with the year-ago profit of $419 million. With those numbers, Arm met the consensus analyst estimate for profitability, although it missed slightly on revenue -- pundits following the stock were expecting it to earn $1.06 billion. More of a concern for investors was management's guidance for the company's current (second) quarter. Its forecast is for $1.01 billion to $1.11 billion in revenue, which, if achieved, would be down or, at best, essentially flat over the first quarter. Meanwhile, adjusted earnings were forecast at $0.29 to $0.37. Bearish analyst moves Although analyst reactions to the quarter were mixed, enough pundits trimmed their price targets to affect sentiment on the stock. UBS 's Timothy Arcuri, for one, shaved his fair value assessment to $175 per Arm share from his preceding $185. He did, however, maintain his buy recommendation. Lee Simpson of Morgan Stanley acted similarly, reducing the price target to $180 per share from $194 while keeping an overweight (buy, in other words) rating intact. Should you invest $1,000 in Arm Holdings right now? Before you buy stock in Arm Holdings, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Arm Holdings wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025
