Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Statistics Canada reported on Wednesday that Canada posted a trade surplus of C$708 million in December, its first in 10 months. By comparison, there was a C$986 million trade deficit in November and a 4.9 per cent month-to-month growth in exports. Imports grew by 2.3 per cent in December, but those from the United States dipped 1.5 per cent. Canada’s trade surplus with the U.S. grew five per cent in December at C$11.3 billion, led by higher exports of energy products and higher crude oil prices.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Liberal leadership candidate Mark Carney is expected to announce today that if he becomes prime minister, he could raise Canada’s defence spending to two per cent of its GDP by 2030, two years faster than what the federal government had promised. However, defence minister Bill Blair said the two per cent benchmark would be achievable by 2027. U.S. President Donald Trump said at the World Economic Forum last month he wants to see NATO countries raise their commitment to five per cent of their respective GDPs. Carney, along with former deputy prime minister Chrystia Freeland, House leader Karina Gould and former MPs Frank Baylis and Ruby Dhalla are running to succeed Prime Minister Justin Trudeau.
– Trump said at a joint news conference with Israeli Prime Minister Benjamin Netanyahu on Wednesday that he wants the U.S. to take ownership of the Gaza Strip and redevelop it after Palestinians are displaced elsewhere. He said the U.S. would create economic development in the region and reconstruct buildings destroyed by the war. Saudi Arabia, a U.S. ally, rejected Trump’s suggestions and the forced displacement of Palestinians would be a violation of international law.
