Businesses call to lower Confederation Bridge Toll
The Canadian Business Federation called for the reduction or removal of tolls on the Confederation Bridge.
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Calgary Herald
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Japanese trade deal with U.S. creates lower tariff rate for vehicles than Canada faces
Article content A new U.S.-Japan trade deal reportedly gives the Asian country a 15 per cent flat tariff rate — providing a potential edge in key export areas such as auto manufacturing, where Canadian finished vehicles currently face a 25 per cent tariff rate. Article content United States President Donald Trump announced the deal with Japan on Tuesday but details remain vague, as no official text of the deal was released. Article content Article content Article content That is similar to other trade deals that the U.S. has announced in recent weeks, where the details remain undisclosed. Still, as Canada inches toward an August deadline on negotiations with the U.S., auto industry professionals offered mixed reactions as to how Japan's deal could affect the competitiveness of Canada's sector. Article content Article content 'If you're Japan, and you're looking around and saying where are my competitors, you're feeling pretty good,' said Eric Miller, president of Washington, D.C.-based Rideau Potomac Strategy Group, a consulting firm on trade policy. 'Autos are about a quarter of their exports, and the auto access was a significant piece of this.' Article content Indeed, according to the World Bank, auto and related exports accounted for about 20 per cent of Japan's trade in 2022. Article content Within Canada's auto sector, the agreement spurred mixed reactions. Article content Article content On the one hand, if Japanese-built vehicle exports to the U.S. face a lower duty than Canadian built ones, this could in theory incentivize some automakers to move production to Japan. Article content Article content On the other hand, that is considered unlikely by many within the auto industry who hold out hope that in the end, Canadian-built autos are likely to receive a lower tariff rate than Japan. Article content 'That's certainly the hope,' said David Adams, president of the Global Automakers of Canada, a lobbying group that represents Honda Motor Co. Ltd. and Toyota Motor Corp. among other foreign automakers. Article content He and others say that vehicles built in Canada, often in border towns such as Windsor, have far more spillover effects in terms of creating jobs in the U.S. than vehicles built in other countries that are separated from the U.S. by an ocean. Article content In reality, Canadian automakers are already paying below 15 per cent in many cases. That is because the Trump Administration adjusted its policies such that automakers can declare the value of any Canada-United States-Mexico Agreement (CUSMA) compliant parts contained within a vehicle and deduct that amount from the total value of the vehicle subject to a tariff.
Globe and Mail
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Tesla Inc: Guggenheim Maintains 'Sell', $175 Target Ahead of Earnings
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CTV News
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- CTV News
Keswick man wins $1 million jackpot, marking 3rd lottery win
Most people don't win much more than a free play with the lottery, but one Keswick man is celebrating his third big lottery win, marking his most significant yet. Neil Carter has been playing the lottery for four decades. Nine years ago he won $15,000 with an instant scratch ticket and last October, he took home $350,000 with a Lottario ticket. But now, the retired father of three upgraded to becoming an instant millionaire after winning $1 million with a ticket he purchased on a whim. "I went to the store for groceries, and while I was paying, I saw two Millionaire Multiplier tickets displayed on the counter,' he recalled. 'I decided to buy both of them.' Once home, Carter played his tickets, revealing his lucky streak was on a roll. 'I was shocked,' he said. 'I just couldn't believe it.' He called over his wife to double check on her phone using the OLG app. 'When she scanned it and saw that it was a big winner, she was in disbelief as well. We were both stunned and thrilled at the same time.' The new millionaire plans to buy and house and save for the future. 'Being a winner feels miraculous,' he shared. 'You never know if you'll be the one.' Carter purchased his winning ticket at Zehrs on Woodbine Avenue in Keswick. Millionaire Multiplier costs $100 per play and has a top prize of $1 million.
