Business Brief: Canada’s growing fights with China, the U.S. and itself

In the span of about 15 hours, Canada’s central bank chief warned governments against using national security concerns as a “pretext for inefficient protectionism,” the federal government announced potential new tariffs on Chinese imports, and a U.S. presidential nominee doubled down on an economic plan that would see about 75 per cent of Canada’s global exports face severe new penalties.

China responded to the EV tariff by launching an “anti-dumping” investigation into imports of canola from Canada. A suspension on the import of Canada’s rapeseed, as it’s also called, would be devastating to the industry.The U.S. government is escalating its fight with Canada over a new tax Ottawa implemented in June on foreign tech giants such as Apple and Amazon.

As that fight escalates, a potentially larger one is brewing in the background over CUSMA. Both Democratic nominee Kamala Harris and Trump could prove challenging when it comes time to renegotiate the trilateral agreement in 2026.The country’s relations with Trump are “chilly at best,” and Harris voted against the agreement when she was a U.S. senator. She argued at the time the trilateral deal didn’t do enough to protect American workers.

Describing a “fragmented” world in which geopolitical tensions are splintering supply chains and pushing countries to fight for themselves, he called for investment in “effective multilateral institutions.”

Italia Ultime Notizie, Italia Notizie

Similar News:Puoi anche leggere notizie simili a questa che abbiamo raccolto da altre fonti di notizie.

Business Brief: The Big Six earnings, and a spotlight on TDAlso in today’s edition: Canadians are in overwhelmingly good standing with their mortgage payments
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »

Business Brief: How to mix U.S. inflation into a recipe for economic clarityAlso in today’s edition: Charting a more productive course for Canada, and Mars lands a salty deal
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »

Business Brief: Getting the trains moving againAlso in today’s edition: The rapture of Canadian office staff
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »

Business Brief: An electrifying future for a storied steel companyAlso in today’s edition: A new member of the $1-trillion club
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »

Business Brief: Couche-Tard reports amid 7-Eleven takeover bidAlso in today’s edition: Expectations of another interest-rate cut
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »

Business Brief: Canola caught in the middleBeijing launches ‘anti-dumping’ investigation in response to Canada’s tariffs on Chinese electric vehicles
Fonte: globeandmail - 🏆 5. / 92 Leggi di più »