How will aluminum tariffs impact U.S. consumers?
The impact of U.S. President Donald Trump's tariffs will increase the cost of buying aluminum for American consumers, says Jean Simard, president and CEO of the Aluminum Association of Canada. 'The pain will be felt more downstream of primary production,' he said.
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Winnipeg Free Press
29 minutes ago
- Winnipeg Free Press
In the news today: Trump's tariffs remain in effect, Canadians critical of Israel
Here is a roundup of stories from The Canadian Press designed to bring you up to speed… Trump's tariffs to stay in effect amid appeal A federal appeals court agreed on Tuesday that U.S. President Donald Trump's sweeping global tariffs will remain in place while a case is heard — extending an emergency stay granted after a lower court found the devastating duties unlawful. The United States Court of Appeals for the Federal Circuit found 'a stay is warranted under the circumstances.' It provides a temporary victory for the Trump administration as it hits its first legal barriers for realigning global trade. 'The Trump administration is legally using the powers granted to the executive branch by the Constitution and Congress to address our country's national emergencies of persistent goods trade deficits and drug trafficking,' said White House spokesman Kush Desai in an emailed statement Tuesday. 'The U.S. Circuit Court of Appeals' stay order is a welcome development, and we look forward to ultimately prevailing in court.' Poll suggests Canadians critical of Israel A new poll suggests that nearly half of Canadians believe Israel is committing genocide in Gaza almost two years after the current conflict began. In a survey conducted last weekend, the polling firm Leger asked Canadians and Americans a series of questions about the conflict in the Gaza Strip. The polling comes as the federal government is under pressure to take concrete steps to condemn Israel's actions in Gaza and the West Bank. Leger asked respondents whether they 'agree or disagree that Israel is committing genocide in the Gaza Strip' based on how they 'define what constitutes a genocide.' Feds look to boost weak summer jobs market The federal government is moving to shore up a historically weak summer job market for students — even as one economist argues tough employment prospects for young people suggest broader softness in the job market. Statistics Canada shone a light on the difficult employment prospects for students heading back to school this fall in its May jobs report last Friday. Roughly one in five returning students aged 15 to 24 was unemployed in May, the agency said. The last time the jobless rate for students was this high outside the pandemic was in May 2009. Also on Friday, the federal government announced an expansion of the Canada Summer Jobs program, which offers wage subsidies to businesses hiring young people for seasonal work. Concern in Canada after U.S. vaccine panel fired Canadian doctors and scientists say Robert F. Kennedy Jr.'s firing of an immunization advisory committee south of the border is worrisome. On Monday, the U.S. health and human services secretary — a longtime anti-vaccine advocate — said he will appoint new members to the scientific group that advises the Centers for Disease Control and Prevention about vaccination. Angela Rasmussen, a virologist at the University of Saskatchewan, said Tuesday that the move will foster more false anti-vaccine beliefs, not only in the U.S. but also in Canada. 'It creates a culture in which anti-vaxx beliefs are more accepted and challenged a lot less. And also it creates an environment where there's an alternative to an evidence-based recommendation framework,' she said. N.S. miners strike a century ago still resonates During Nova Scotia's storied 300-year history of coal mining, one deadly riot in 1925 proved to be pivotal for workers' rights in Canada. One hundred years ago today, William Davis — a 37-year-old Cape Breton coal miner and father of nine — was shot to death by a special constable hired by the British Empire Steel Corporation (BESCO) — a monopoly mine owner that had repeatedly turned to violence to end strikes over poor wages and unsafe working conditions. 'William Davis's story highlights the many sacrifices that those unionized workers made when they stood up against oppression,' says Danny Cavanaugh, president of the 70,000-member Nova Scotia Federation of Labour. 'It serves as a reminder of a historic struggle that workers faced to secure their rights.' Davis's death on the outskirts of New Waterford, N.S., commemorated every year in Nova Scotia on June 11, was the painful culmination of a long series of strikes and chaotic skirmishes. CRTC holds hearing on internet choice Canada's telecommunications regulator is expected to hear today from major providers and consumer advocacy groups at a hearing on shopping for internet services. Wednesday marks Day 2 of the four-day hearing, which is part of a CRTC consultation launched in December on how to help consumers shop for home internet plans following complaints it was difficult to compare their options. The regulator is considering a requirement for providers to display relevant information — such as price and speed — through a standardized label, similar to nutrition labels on food products that contain serving size and calorie data. The Canadian Telecommunications Association industry group, along with Telus Corp., Bell Canada and internet accessibility advocacy group OpenMedia are scheduled to present today. — This report by The Canadian Press was first published June 11, 2025
Globe and Mail
an hour ago
- Globe and Mail
‘It's Only Just Begun,' Says Investor About Tesla Stock
There are many things to say about Elon Musk and Tesla, Inc. (NASDAQ:TSLA), but boring is certainly not one of them. Musk and his company are in the headlines seemingly every day, for better or for worse. Confident Investing Starts Here: Most recently, last week's very public, social media-fueled split between Musk and his previous pal President Donald J. Trump caused TSLA stock to fall precipitously, though it has clawed back some of these losses over the past few days. This broke a largely positive trend for TSLA, which over the past month and a half had been floating upwards. Indeed, it was Musk's admission in the company's Q1 2025 earnings report towards the end of April – in which he shared that he would be cutting down on most of his DOGE-related duties to focus on his private sector ventures – which sparked the recent bull run. All told, the company's share price has lost almost a quarter of its value year-to-date. One investor known by the pseudonym Cash Flow Venue thinks that the TSLA has farther to fall – and Musk bears a large chunk of the blame. 'The crash has just begun,' asserts the investor. 'I think Elon is a disaster for Tesla's brand and its global perception by customers.' Cash Flow Venue further explains that Musk's strong support of Trump has alienated the majority of progressive voters. Unfortunately for Tesla, these seem to be the consumers most likely to purchase an EV. Moreover, the slowing sales are not confined to the U.S. but are being felt throughout the global marketplace. Cash Flow Venue cites a litany of depressing figures from around the world for Tesla's EVs, including year-over-year sales decreases of 68% in Portugal, 67% in France, and ~54% in Sweden. On top of that, Trump administration policies are not helping matters, notes the investor, pointing to the fairly straightforward connection between the prospective end of EV tax incentives and a decline in demand. With so much going wrong for the company, Cash Flow Venue notes that TSLA's high valuation is therefore pretty 'counterintuitive.' 'Given high valuation multiples, declining sales, and mounting risks, I maintain a Strong Sell rating on TSLA stock,' sums up Cash Flow Venue. (To watch Cash Flow Venue's track record, click here) On the other hand, Wall Street has decidedly mixed opinions about TSLA. With 14 Buys, 12 Holds, and 10 Sells, TSLA has a consensus Hold (i.e. Neutral) rating. Its 12-month average price target of $281.77 has a downside of ~9%. (See TSLA stock forecast) To find good ideas for AI stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
Winnipeg Free Press
2 hours ago
- Winnipeg Free Press
It's not the time to cave on booze boycotts
Opinion A good measure of the true strength of your intentions is how much you're willing to sacrifice to stand up for what you believe. That should be the case even more when what you're sacrificing is essentially a luxury. You should, after all, be able to hold out a good long time without compromising your principles when what you're giving up is not even a necessity. Well, two Canadian premiers have demonstrated that the strength of their convictions is as shallow as a shot glass. MIKAELA MACKENZIE / FREE PRESs fileS Shelves emptied of American alcohol at a Liquor Mart. Remember when many provinces halted their sales of U.S. alcohol products in response to trade action by the American government? You should — it was, after all, only a little over three months ago that Alberta Premier Danielle Smith was saying this about U.S. tariffs: 'This economic attack on our country, combined with Mr. Trump's continued talk of using economic force to facilitate the annexation of our country, has broken trust between our two countries in a profound way… It is a betrayal of a deep and abiding friendship.' A deep betrayal, all right. As of this week, both Alberta and Saskatchewan began purchasing U.S. alcohol products again. The halt in sales had been a clear and decisive multimillion-dollar message to American producers that Canadians weren't going to put up with the endless tariff follies of U.S. President Donald Trump. With plenty of other domestic and global options, we could no doubt put up with the absence of American wine, beer and bourbon. The boycott threatened US$1.1 billion in American wine sales alone, and U.S. spirits producers have said the boycotts were worse than tariffs. It was a strong message to the U.S. that trade is a two-way street. But a boycott — even of a luxury item that will still face a retaliatory tariff of 25 per cent by the Canadian government — is only as strong as its weakest link. And the governments of Alberta and Saskatchewan, always proud chest-thumpers of the innate toughness of good western folk, have proven to be that weakest link. Heaven forbid the Jack Daniels or Maker's Mark bourbon wouldn't be there to flow for the Calgary Stampede. Meanwhile, Alberta's move was swiftly welcomed by the United States' ambassador to Canada, Peter Hoekstra, who couldn't resist taking a social media victory lap, saying on X/Twitter: 'Very glad to see that Albertans can once again enjoy a cold U.S. beer or glass of wine. Thanks to Premier @ABDanielleSmith for your leadership in removing this barrier to fair and reciprocal trade.' Hoekstra's comments have to be read as a bitter little joke: the fact is that the capricious introduction of tariffs across a broad range of Canadian products by Trump is what built the current barriers 'to fair and reciprocal trade.' (If Hoekstra couldn't see the backhander he was delivering for the insult it truly was, then perhaps the carefully wrought world of diplomacy should not be his trade.) Wednesdays Columnist Jen Zoratti looks at what's next in arts, life and pop culture. Alberta seems quite willing to be the butt of that joke: last Friday, Alberta's Service Alberta and Red Tape Reduction Minister Dale Nally said the sales were being restarted to show a 'renewed commitment to open and fair trade' with the U.S. The United States has shown, of course, not one single iota of renewed commitment to anything like open and fair trade. Let's hope that customers in Alberta and Saskatchewan will continue to make the point that their governments don't have the strength to deliver, and continue to boycott American products until American producers can make their own case to their politicians about the damage done by trade wars. If not? Raise a glass to capitulation. And just wait for the next Trumpian punishment to be dealt out to America's former closest neighbour. Because it will come.
