
TSX Climbs While Gold and Gas Get Knocked Down
Market Numbers (Futures)
TSX : Up ( 0.17%) 27,805.87TSXV: Down (0.23%) 787.22DOW: Up (0.28%) 44,401.00NASDAQ: Up (0.10%) 23,7378.00
FTSE: Up (0.31%) 9,123.93
In the Headlines:
Kia is calling back nearly 10,000 Tellurides and K5s over loose trim that could detach and spark road chaos—owners will get notified by mail as dealers prep free fixes.
And Over 10,000 flight attendants staged synchronized pickets at four major airports on Sunday, Montreal, Toronto, Vancouver, and Calgary, upping the ante in contract talks as a strike looms as early as August 16 if no deal lands.
Currencies Update: (Futures)
The Canadian dollar slips 0.25% to US$0.7253, eases off 0.10% against the euro to $0.6234, while Bitcoin rips 1.67% higher, to land at CDN$160,008.08.
Commodities: (Futures)
Natural Gas: Down (1.50%), 2.95WTI: Up (0.59%), 64.26Gold: Down (1.35%), 3,352.76
Copper: Down (0.50%) 6.00
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27 minutes ago
'Uncertainty is the only thing that is certain': Sask. farmers react to Chinese duty on canola
Canola producers say they're not surprised about China's latest move in its ongoing trade war with Canada. Everybody was kind of expecting this day to come. It was just a matter of when and what level the tariffs were going to be applied at, said Bill Prybylski, president of the Agricultural Producers Association of Saskatchewan. On Tuesday, China's Ministry of Commerce announced a 75.8 per cent preliminary duty (new window) on Canadian canola seed after an anti-dumping investigation it began last year. China claims the dumping of Canadian canola into the Chinese market is hurting its domestic canola oil market. The investigation — and the 100 per cent tariff levied on Canadian canola oil and meal in March — were launched in response to Canada's 100 per cent tariff on Chinese electric vehicles. Ottawa has said China has until September, when its investigation formally ends, to make a final decision on the duties, but it could extend the deadline by six months. 'Caught in the middle' While the latest round of canola tariffs were expected, that doesn't make the process any less frustrating for producers like Prybylski. We feel like we're caught in the middle of a trade war that we neither wanted, or started, or have any influence on, he said, speaking with CBC News from his farm near Yorkton, Sask., about 175 kilometres northeast of Regina. Multiple agricultural and canola associations say China's move effectively shuts Canadian canola out of the Chinese market. According to the Canola Council of Canada, China is the largest market for canola seed and the second largest market for Canadian canola. The latest data provided by the council (new window) shows Canada's canola exports to China totalled $4.9 billion in 2024. For now, producers are cautiously watching the price of canola. Rick White, president and CEO of the Canada Canola Growers Association, said it is too early to tell what those prices might look like. 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Our federal government cannot sacrifice a $43-billion canola industry, 200,000 jobs in that industry that is largely based, in fairness, in Western Canada, to protect the fledging electric vehicle industry, largely based in Eastern Canada, Moe said. WATCH | Canola farmers feel forgotten amid trade war, ongoing Chinese tariffs: In early June, Canadian and Chinese trade ministers committed to meet to address trade issues. In a post on social media Tuesday (new window) , the Chinese Ministry of Commerce said officials from both countries met four days ago and discussed trade and ways to deepen co-operation. The Prime Minister's Office deferred comment on China's latest canola tariff to the minister of international trade, who did not immediately respond to a request for comment. Saskatchewan Opposition NDP Leader Carla Beck urged Moe to visit China immediately. 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