By David Olive Business Columnist Fri., Oct. 5, 2018 When your grandchildren ask about the great Free Trade Scare of the late 2010s, you’ll be able to tell them only that it was a period of high drama that was a slight step backward and otherwise amounted to practically nothing. Justin Trudeau, the prime minister, was on shaky ground this week when he said that agreement on the new United States-Mexico-Canada Agreement (USMCA) was “a good day for Canada.” In its essentials, the USMCA is scarcely different from the North American Free Trade Agreement (NAFTA) it is to replace. The entire exercise was a waste of precious time and intellectual resources that distracted the Three Amigos from a range of other challenges. The USMCA also represents a lost opportunity. Article Continued Below If the object had been to overhaul NAFTA for the 21st century, the USMCA would have incorporated the highest standards of worker, environmental and … [Read more...] about Is USMCA really a ‘good day for Canada’? We’ll see about that
Exporting water from canada
By John Barber Opinion Sun., Sept. 16, 2018 I never used to pay much attention to the price of milk. It was always on the list, and you paid what you paid. But now I keep a close eye on it. Alerted by the current debate over supply-management in Canadian agriculture, I figured the best place to discover the evil deeds of the so-called “dairy cartel” was on the shelves of my local grocery store. This week, a four-litre bag of 2% milk is going for $4.99. That’s $1.25 a litre, cheaper than any of the sugary drinks for sale there and half the price of the many milk substitutes that now crowd the dairy shelves. I keep waiting for the dairy cartel to tighten the screws and begin to charge as much as its sugar-water competitors do. But reality stubbornly persists in contradicting the alarmist rhetoric that politicians and pundits spin about greedy farmers, to the point that the contrast between what happens in the dairy aisle and the political outcry it … [Read more...] about Is Canada’s ‘dairy cartel’ really milking the system?
By Bruce Campion-Smith Ottawa Bureau Sun., Sept. 2, 2018 OTTAWA—U.S. President Donald Trump’s threat to leave Canada out of a new NAFTA deal heightened tensions and capped an already dramatic week of negotiations, but some experts say the threat isn’t quite as direct as it seems. On Saturday, Trump threatened to go it alone with Mexico on a revised agreement or to terminate NAFTA entirely. “There is no political necessity to keep Canada in the new NAFTA deal,” he tweeted, while on his way to play golf. “If we don’t make a fair deal for the U.S. after decades of abuse, Canada will be out. Congress should not interfere w/ these negotiations or I will simply terminate NAFTA entirely & we will be far better off.” Read more: Donald Trump threatens to terminate NAFTA if Congress stands up for Canada Article Continued Below Donald Trump confirms Star story on his secret bombshell remarks about Canada … [Read more...] about Despite Trump’s threats, it won’t be easy to cut Canada out of NAFTA, experts say
Kulaya Tantitemit, the Finance Ministry’s inspector-general, yesterday said that the ministry had revised its economic growth forecast from 4.2 per cent, with the 4.5 per cent estimate sitting midway in a range of 4.2 to 4.8 per cent. After the economy grew 3.9 per cent last year, the momentum has been maintained with further expansion in exports, benefiting from the economic expansion in the country’s trading partners. As a range of positive data comes in, a consensus in the financial markets is emerging for economic growth of more than 4 per cent for 2018. Public spending in the 2018 fiscal year has also contributed to the continued growth in gross domestic product (GDP). The government put in place a mid-year supplementary budget worth Bt150 billion, Kulaya said. Investment in infrastructure projects, the development of special economic zones and public-private partnership investments are expected to boost investor confidence and lead to more … [Read more...] about Export boom rewrites GDP forecast for 4.5% gain this year
caption Canada’s Prime Minister Justin Trudeau source Chris Wattie/Reuters Canada officially imposed tariffs on more than $12 billion worth of US goods on Sunday. The move came in response to President Donald Trump’s steel and aluminum tariffs. From steel to whiskey to motorboats, the list of US products subject to Canada’s tariffs is wide-ranging. Canada’s latest blow in the ongoing trade fight with the US officially went into effect Sunday, as tariffs on roughly $12.6 billion worth of US exports to Canada became official. The tariffs came in response to President Donald Trump’s steel and aluminum tariffs on Canadian metals entering the US. They were first announced on May 31. According to the Canadian Department of Finance, the tariffs will hit goods of equal value to Canadian metal exports to the US. The Canadian tariffs will hit a wide range of US products – from … [Read more...] about Canada officially slapped tariffs on more than $12 billion worth of US goods — here’s what’s getting hit