Steelworkers call on federal government to hold the line and strengthen Canada's economic defences as trade war escalates
'Trump's tariffs on Canadian exports remain in place and now he's imposed a 35% general tariff on non-CUSMA compliant Canadian exports, a 50% tariff on steel, aluminum and copper, new duties on softwood lumber and ongoing investigations that could hit even more sectors. These are direct threats to Canadian economic sovereignty and key industries like steel, aluminum, softwood and other manufacturing sectors where thousands of good jobs are on the line.
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Japan Forward
21 minutes ago
- Japan Forward
Do Not Open Japan-US Trade Deal to Distorted Interpretation
このページを 日本語 で読む A trade deal was concluded by the Shigeru Ishiba administration and the Donald Trump administration. But, were the provisions of the agreement actually finalized? It is difficult to dispel doubts on that score. There are stark differences in how the Japanese and US sides explain provisions on new investment in the United States. This is a cause for concern in the actual implementation of the agreement. One of the main pillars of the Japan-US agreement sets reciprocal tariffs and auto tariffs the US imposes on Japanese imports at 15%. However, no written agreement has been drawn up. Isn't that the cause of the differences in perception between the two sides? Prime Minister Shigeru Ishiba should have spoken directly with President Trump immediately after the agreement was reached to share his views. His failure to do so has created a major problem. If things continue as they are, it is possible that the US side will try to force its own interpretation on Japan. If that were to happen, Japan's national interest might well suffer damage. The Prime Minister and Minister for Economic Revitalization Ryosei Akazawa should clarify the reasons for these differing perceptions during the extraordinary Diet session that convened on August 1. They have a duty to explain to the satisfaction of the Japanese people that the agreement will be appropriately implemented. US President Donald Trump speaks at the White House on July 31 (©Reuters via Kyodo) Regarding Japanese investment in the United States, Trump posted on social media that Japan will invest $550 billion USD (approximately ¥80 trillion JPY) in the United States. Furthermore, he said, the US will receive 90% of the profits. In response, the Japan side has explained that the $550 billion in question is actually the upper limit for investments, loans, and loan guarantees. Of this, the "90%" of the profits the US would stand to make from the deal are from investment projects. That amounts to just 1% to 2% of the $550 billion, according to Akazawa. As for the issue of rice, the US side claims that Japan's imports of American rice will increase by 75%. However, Japan has not provided any specific details. Won't this really amount to sacrificing Japan's agricultural sector? US Treasury Secretary Scott Bessent has also declared that he intends to review Japan's compliance with the agreement quarterly. He has further threatened that tariffs will be raised to 25% if Trump is not satisfied. That would provide leeway for Trump to unilaterally scrap the agreement. The lack of a joint document sharing a mutual understanding of what the agreement entails has left a legacy of problems. The Japanese side prioritized an early conclusion to the talks. That allowed the delay of the time-consuming task of hammering out a written agreement. Their excuse was to avoid a situation where an agreement could not be reached by the Trump-imposed deadline of August 1. On that date, Trump's reciprocal tariffs on Japan were scheduled to rise to 25%. Even if that is true, it will end up counterproductive if the agreement comes to be distorted by the US interpretation. Above all, the Ishiba government should urge the Trump administration to quickly align their respective views. We should realize that, unless both sides share a mutual understanding, economic uncertainty from Trump's tariffs will not dissipate. Author: Editorial Board, The Sankei Shimbun このページを 日本語 で読む
The Province
30 minutes ago
- The Province
The two ways Trump's tariffs on Canada could collapse — despite his fight to keep them
The courts are considering whether they're even legal under U.S. law, and the American economy has yet to feel the pain of higher prices Dubbing it "Liberation Day," U.S. President Donald Trump announces his plan to enact sweeping new reciprocal tariffs worldwide, on April 2, 2025. Photo by Brendan Smialowski/AFP via Getty Images/File WASHINGTON, D.C. — Time's up. On Friday, U.S. President Donald Trump raised the tariff rate on Canadian goods not covered under the Canada-United States-Mexico Agreement (CUSMA) from 25 to 35 per cent, saying they 'have to pay a fair rate.' The White House claims it's because of Canada's failure to curb the 'ongoing flood of fentanyl and other illicit drugs.' U.S. Customs and Border Protection (CBP) data, however, show that fentanyl seizures from Canada make up less than 0.1 per cent of total U.S. seizures of the drug; most smuggling comes across the Mexican border. 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. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. 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 But the future of Trump's policy also rests on shaky ground, and the tariffs could come crashing down even if Canada can't reach a deal at some point. Imposed through a controversially declared 'national emergency' under the International Emergency Economic Powers Act (IEEPA), the tariffs come with essentially three paths for relief to Canadian exporters and their American customers: the courts and the economy. And there's always the wildcard: that the president changes his mind. Without relying on that, National Post looks at two very possible ways out of all this: The courts: There is a big question hanging over whether Trump's tariffs are even legal under the U.S. Constitution, which gives Congress powers over trade. Trump has bypassed that by claiming he's using presidential IEEPA emergency powers. This advertisement has not loaded yet, but your article continues below. On Thursday, the Washington, D.C.-based Federal Circuit Court of Appeals convened an en banc hearing for oral arguments in challenges to Trump's use of IEEPA. The 11 judges questioned whether the law meant for sanctioning adversaries or freezing assets during emergencies grants Trump the power to impose tariffs, with one judge noting, 'IEEPA doesn't even mention the word 'tariffs.'' The White House, meanwhile, says the law grants the president 'broad and flexible' emergency powers, including the ability to regulate imports. 'Based on the tenor and questions of the arguments, it appears that the challengers have the better odds of prevailing,' Thomas Berry, the CATO Institute's director of the Robert A. Levy Center for Constitutional Studies, said in a statement. 'Several judges peppered the government's attorney with skeptical questions about why a broad term in IEEPA like 'regulate importation' should be read to allow the president to unilaterally impose tariffs.' Essential reading for hockey fans who eat, sleep, Canucks, repeat. 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. Trump's lawyers claim his executive order provides the justifications for the tariffs — in Canada's case, fentanyl. But Berry said 'those justifications would not matter if IEEPA simply does not authorize tariffs in the first place. That is the cleanest and simplest way to resolve this case, and it appears that the Federal Circuit may be leaning toward that result.' A decision is expected this month, and if it's a resounding push back from the judges' panel, said Andrew Hale, a senior policy analyst at Heritage Foundation, the Supreme Court may not even take up the case. If so, he says, 'these Liberation Day tariffs and everything that's been imposed under emergency legislation, IEEPA, that all evaporates.' At that point, the White House would not be able to declare across-the-board tariffs against countries. Instead, it would have to rely on laws allowing tariffs to be imposed on specific products that are found to threaten U.S. national security, like those currently imposed on Canadian steel and lumber. This advertisement has not loaded yet, but your article continues below. The economy: The other path to tariff relief is through economic pressure. If Americans start to see higher prices and economic uncertainty, and push back at the ballot box — or threaten to do so — it could force Trump to reverse course. The most recent figures show that U.S. inflation, based on the Consumer Price Index, hit around 2.7 per cent in July. That's a slight rise, fuelled by rising prices for food, transportation and used cars. But it's still close to the Federal Reserve target of two per cent. U.S. unemployment rose slightly to 4.2 per cent in July, while far fewer jobs were created than expected, and consumer confidence rose two points but is still several points lower than it was in January. Overall, most economists agree that risks of a U.S. recession over the next 12 months are relatively low, but skepticism over growth remains high. 'Our outlook is for slower growth in the U.S., but no recession,' said Gus Faucher, chief economist of The PNC Financial Services Group. He notes that the 'tariffs are going to be a drag' because they are a tax increase on imports. This advertisement has not loaded yet, but your article continues below. Economists have said price inflation from tariffs is not yet being felt in the U.S. but believe it's inevitable. 'Trump's tariff madness adds a great deal to the risks of a recession,' said Steven Hanke, professor of applied economics at Johns Hopkins University who served on President Ronald Reagan's Council of Economic Advisors. 'With tariffs, Americans are going to be paying a big new beautiful sales tax on goods and services imported into the U.S., and taxes slow things down. Taxes don't stimulate.' It is surprising that higher U.S. prices haven't happened yet, said Jonathan Gruber, chairman of the economics department at the Massachusetts Institute of Technology. But he explained that it's likely a reflection of the duration of contracts and the fact that import sellers haven't yet put up prices — 'because they were hoping it wouldn't be real, like they'd wake up from this nightmare.' This advertisement has not loaded yet, but your article continues below. 'I think we start to see the effect on prices by the end of the year,' said Gruber. The trouble for Canada, however, is that the Canadian economy is starting from a much weaker position, with higher unemployment, lower consumer confidence, and a slowing GDP, on top of the trade tensions. So, trying to wait things out for the U.S. to feel the pinch will be even more painful for Canadians. And any American downturn will also reverberate north. 'As Uncle Sam goes, so goes Canada,' said Hanke. Gruber agrees with that, but with a caveat. 'It's all bad in the short run and good in the long run,' he says. He believes the U.S. is 'weak and getting weaker' and that Canada should start taking advantage of how the U.S. is making opportunities for other countries to invest in themselves. This advertisement has not loaded yet, but your article continues below. 'We're not investing in our future. We're killing our education. We're killing our research. We're not allowing in immigrants,' he said, explaining the weakening of the U.S. economy. 'We're basically setting the stage for long-run economic slower growth.' Meanwhile, China is doubling down on investment, research and other longer-term policies. 'Canada and other countries need to do the same,' Gruber said. And as for when a backlash could lead to a reversal in the U.S., Gruber points to two factors. 'It's got to be high inflation, and Trump's opponents need to make sure that the voters understand that's Trump's fault.' National Post tmoran@ Read More Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our newsletters here. News News Tennis Columnists Vancouver Canucks
Winnipeg Free Press
an hour ago
- Winnipeg Free Press
Hilary Weston, fashion mogul and former Ontario lieutenant-governor, dead at 83
Hilary Weston, an Irish-Canadian fashion mogul and former lieutenant-governor of Ontario who devoted time to issues tied to women, volunteerism and youth, has died at 83. In a statement Sunday, her family said the philanthropist and writer was shaped by an 'enduring generosity and a deep commitment to helping others.' 'Our mother lived with unwavering devotion to her family and a belief in the power and importance of community and service,' said Galen Weston Jr., who is her son and chairman and former president of Loblaw Companies Ltd. 'Brilliant, brave, companionate, and beautiful, she brought a touch of magic to everything she did — in her decades of public service, philanthropy and her remarkable business career. Her greatest joy was the life she created for her family and friends — filled with warmth, love and fun.' Born in Ireland on Jan. 12, 1942, Weston was the eldest of five children. She spent her early years as a fashion model to support her widowed mother and younger siblings. She married W. Galen Weston, known as Galen Weston Sr., in 1966 and moved to Toronto in the 1970s. She spent 10 years, beginning in 1986, working with luxury clothing brands Holt Renfrew and Brown Thomas & Co., as well as department store company Selfridges Group. Her charitable works include the Weston Family Foundation and the Hilary and Galen Weston Foundation following her husband's death in April 2021 at the age of 80. They were married for 55 years. Known for their connection to the Loblaw grocery store chain, the Westons are one of Canada's wealthiest families. She also co-authored two books on homes and gardens. In 1997, Weston became Ontario's lieutenant-governor and held the role until 2002, during which time she looked to highlight the contributions of volunteers, women and youth. She was given the Order of Canada in 2003 for outstanding achievement, dedication to community and service. At the time, she was the second woman to receive the award. In the family's statement, daughter Alannah Weston Cochrane said her mother loved a challenge. She also said Weston had elegance and high standards that 'were matched by her warmth and sense of humour.' 'But it was her vision, coupled with her enormous capacity for hard work, that made her a great female leader,' she said. 'Her insight, wisdom and strength as well as her belief in individuals made almost anything possible.' Irish Deputy Prime Minister Simon Harris said in a statement he was 'deeply saddened' by Weston's death. 'Hilary was a very proud Irish-Canadian who served both Ireland and Canada with distinction and generosity,' he said. 'She made a lasting contribution to Irish-Canadian relations. 'I extend sincere condolences to her children, Alannah and Galen, and the entire Weston family.' This report by The Canadian Press was first published Aug. 3, 2025.
