A $520 Billion Retirement System Comes Under Fire in Western Canada
If Premier Danielle Smith has her way, that's just the start of sweeping changes for the C$180 billion ($131 billion) Alberta Investment Management Corp. — and perhaps Canada's entire pension system.
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Yahoo
3 minutes ago
- Yahoo
Trump orders 35% tariff on imports from Canada, citing a lack of cooperation in stopping illicit drug trafficking
WASHINGTON (AP) — Trump orders 35% tariff on imports from Canada, citing a lack of cooperation in stopping illicit drug trafficking. Error al recuperar los datos Inicia sesión para acceder a tu cartera de valores Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos Error al recuperar los datos
Yahoo
3 minutes ago
- Yahoo
Trump orders a 35% tariff for goods from Canada, citing a lack of cooperation on illicit drugs
WASHINGTON (AP) — U.S. President Donald Trump has raised the tariff rate on U.S. imports from Canada to 35% from 25%, effective Friday. The announcement from the White House late Thursday said Canada had failed to 'do more to arrest, seize, traffickers, criminals at large, and illicit drugs.' Trump earlier had threatened to impose the higher tariff on Canada if no deal was reached by Friday, his deadline for reaching trade agreements with dozens of countries. Canada was not included in Trump's updated list of tariff rates on other countries announced late Thursday. Those import duties are due to take effect on Aug. 7. Prime Minister Mark Carney had tempered expectations, saying Ottawa will only agree to a deal 'if there's one on the table that is in the best interests of Canadians.' In a subsequent statement, released just after midnight, he said he was disappointed by the actions and that 'Canada accounts for only 1% of U.S. fentanyl imports and has been working intensively to further reduce these volumes.' He added that some industries — including lumber, steel, aluminum and automobiles — will be harder hit, but that the government will try to minimize the impact and protect Canadian jobs.
Bloomberg
5 minutes ago
- Bloomberg
Trump Imposes Sweeping Global Tariff
Live on Bloomberg TV CC-Transcript 00:00It's really been a wild morning and a mishmash of numbers, and some of them are pretty much in line with what we were expecting. So that 10% baseline, not a 15 as sort of has been bandied about the past few weeks, and then the highest rates being around 41%. Still, of course, a lot of questions about China, for example, some of the larger economies as well that are on sort of a different track. Then there's reciprocal levies. So that would be Canada, Mexico, as well as China. So we still don't have the final levels on that. But overall, this takes the average U.S. tariff rate to about 15.2%, which is the highest since World War two period, as well as significantly higher than the roughly 2%. It was that before Trump came back for a second term in 2025 and the countries run the gamut. There were small economies, some large economies as well. Of course, some of them we knew 25% for India, 15% for South Korea and Japan. But there were some puzzling ones as well, like Lao getting hit and Myanmar, Burma getting hit with some sort of the higher level, so closer to 40% levies. So these are all sort of the number, the final numbers, at least for now, that we have. And some of these countries, of course, are going to keep negotiating, which has been the style so far this year. Well, speaking of which, Canada has been hit with a 35% levy cut here, but Donald Trump saying that he's going to talk to Canada's prime minister, Mark Carney. Yeah, it's a it's a big question. I mean, this has been one of those trade deals that have been perhaps the most contentious with the leaders going back and forth, first with Trudeau, now with Carney. And the country just reported second quarter GDP growth that was actually quite positive. So this poses quite a substantial risk. The two leaders will continue negotiations and this kind of shows how these rates are not necessarily final. So, yes, markets do have a bit more certainty now that we have a level that's been published from the April 2nd levels. Some of them are a bit better than those levels. Some of them are a bit worse. Like Switzerland, for example, got hammered. But for Canada, for example, this is one of those that will likely continue because they also have the USMCA. So they need to have Mexico at the at the table as well. So we'll be looking forward to that. Yeah. Let me just bring you some breaking lines from Switzerland. The Swiss government noting that 35% tariff. With regret, they say that they're still seeking a negotiated solution with the US when it comes to trade, but that tariff differs significantly from the draft, they say. So Switzerland hit with these tariffs, but Mexico cut. You're getting a 90 day reprieve. How come? Yeah. Brazil also got a reprieve, we heard earlier this week. And as well as exemptions on some of its goods. And it goes to show just how important these trade ties are for the US economy and for US consumers. Because at the end of the day, what happens with inflation, what happens with prices, with households, as well as with companies that rely on components as well as finished products like autos, would be a big one for Mexico. There's also significant pharmaceuticals coming from countries like India, and so having that reprieve would just allow for more time to negotiation, to negotiate, rather. And so perhaps this is sort of what Trump has really been doing, which is announcements, negotiation, another announcement, a bit more negotiation. So we're seeing a bit more of that, you know, the goalposts moving forward just just a little bit. So, you know, we'll probably be talking about this again on Monday with some more announcements to come. For YouLive TV
