By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Statistics Canada reported on Friday that the country’s manufacturing sales in December rose 0.3 per cent at C$71.4 billion, for the third consecutive monthly increase. StatCan also reported wholesale sales (excluding petroleum, petroleum products and other hydrocarbons and excluding oilseed and grain) were down 0.2 per cent in December at C$83.6 billion.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The Canadian government’s two-month GST/HST break failed to produce positive results for many small businesses, the Canadian Federation of Independent Business said on Friday. The CFIB noted the tax break from Dec. 14 to Feb. 15 likely benefitted consumers.
- United States President Donald Trump said on Thursday he would slap reciprocal tariffs on any country that imposes levies on U.S. imports. In particular, Trump took aim at sales and value-added taxes, such as those in Canada and the United Kingdom. The president signed a memo instructing his staff to develop tariffs according to each country’s existing levies, exchange rates and trade balances.
- Indian Prime Minister Narendra Modi met with Trump on Thursday in Washington, with the two leaders agreeing to ramp up U.S./India trade to US$500 billion by 2030. Also, India will increase its purchases of U.S. oil and gas as well as military equipment.
- The U.S. Department of Agriculture reported on Thursday that the country’s average price of a dozen eggs climbed to US$8.16 per dozen. That’s up from US$1.82/dozen in January 2024. Avian influenza has resulted in the culling of millions of laying hens in several states, resulting in egg shortages.
