By MarketsFarm
WINNIPEG, April 8 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– Canadian Prime Minister Justin Trudeau is threatening to sue Andrew Scheer, leader of the opposition Conservative Party, for “libel over statement made about a scandal that has dogged… the Liberal Party for two months,” according to Reuters. The Liberal party has faced turmoil and criticism since former Justice Minister Jody Wilson Raybould said she had been inappropriately pressured to ensure SNC Lavalin, a Quebec-based construction company, would not face charges for corruption. “I believe this is an attempt to stifle criticism of Justin Trudeau. This is a bullying attempt to try to prevent me from doing my constitutional duty as leader of the opposition,” Scheer told reporters.
Read Also
Canadian Financial Close: C$ firm Friday
Glacier FarmMedia — The Canadian dollar strengthened Friday, as dovish comments out of the United States Federal Reserve weighed on…
– The clock is ticking for the United States, Mexico, and Canada to ratify the North American-wide trade deal that was agreed to in September 2018. The USMCA agreement must be ratified by each government. Canadian Parliament breaks for summer recess in June, followed by a federal election in October. U.S. President Donald Trump blames the Democratic-led U.S. House of Representatives for the delay in signing off the agreement. The U.S. is also gearing up for a presidential election in 2020. “The USMCA is in trouble,” said Andres Rozental, a former Mexican deputy foreign minister for North America, to Reuters.
– The U.S. congress is considering suing the Organization of Petroleum Exporting Countries, or OPEC. The bill, known colloquially as NOPEC, would allow the Justice Department to take antitrust action against OPEC for manipulating the oil market. The U.S. government could sue OPEC, preventing coordinated production cuts. There is no stated timeline for Congress to pass such a bill. Saudi Arabia has threatened to cease selling its oil in U.S. dollars if the bill passes.
