By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- The United States and China have reached an agreement on a potential trade deal, reports said on Monday. The announcement came ahead of the scheduled meeting between U.S. President Donald Trump and Chinese President Xi Jinping at the APEC summit in South Korea on Thursday. The U.S. and China have been embroiled in a tit-for-tat tariff war for most of this year.
Read Also
Global Markets: Trump cancels Canada trade talks
Glacier FarmMedia – The following is a glance at the news moving markets in Canada and globally. – United…
- Trump struck back at Canada on Sunday with the promise of an additional 10 per cent tariff on top those already in place. Days earlier, Trump ended all trade talks between the two countries as he voiced his displeasure with the Ontario government TV commercial that highlighted former U.S. President Ronald Reagan as a proponent of free trade.
- Canadian Prime Minister Mark Carney said on Sunday that Canada is a reliable trade partner, adding on Monday that he yet to speak with Trump about Ontario’s TV commercial. Carney said he will be available for discussions with Trump at the ASEAN summit in Malaysia and APEC conference in South Korea later this week. Carney is expected to speak to President Xi about resolving Canada-China trade differences.
- A report from Reuters on Monday said analysts are expecting the Bank of Canada to cut its key interest rates by 25 basis points as the country deals with an increasingly sluggish economy. A Statistics Canada report on Monday said the country’s exports fell 7.5 per cent in the second quarter of 2025. The BoC is scheduled to make its next rate announcement on Wednesday. Last month, the central bank dropped its rates to 2.5 per cent.
- Argentine President Javier Milei led his libertarian party to victory in the country’s midterm elections on Sunday. Reports said La Libertad Avanza won 41 per cent of the votes cast, taking 13 of the 24 available senate seats plus 64 of 127 seats in congress that were up for grabs.
