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Global Markets: Cabinet retreat focussing on trade issues

Will also discuss defence, housing, crime

Reading Time: < 1 minute

Published: 5 hours ago

By Glen Hallick

 

Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.

 

  • Canadian Prime Minister Mark Carney and his cabinet will begin a two-day retreat on Wednesday in Toronto. Highlighting discussions will be United States tariffs and the Canada-U.S.-Mexico Agreement. As well, they will strategize on Canada’s defence industry, affordable housing and tackling crime. The entire federal Liberal caucus will gather in Edmonton on Sept. 15 for further discussions before Parliament reconvenes a week later.
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  • U.S. President Donald Trump accused the leaders of China, Russia and North Korea of conspiring against the U.S. Trump made the comment Tuesday evening on Truth Social. China’s Xi Jinping, Russia’s Vladimir Putin and North Korea’s Kim Jong Un are in Beijing for a large military parade marking the 80th anniversary of the end of the Second World War.

 

  • Statistics Canada reported fertilizer production in 2024/25 included 24.47 million tonnes of potash, down from 24.74 million a year ago, as well as 4.28 million tonnes of ammonia compared to 4.53 million tonnes last year. Urea, at 4.22 million tonnes, compares with 4.44 million in 2023/24 and 1.57 million tonnes of urea ammonium nitrate dipped from nearly 1.60 million a year ago. Plus, 1.26 million tonnes of ammonium sulphate compared to 1.32 million the previous year.

 

  • The U.S. Department of Agriculture reported on Tuesday, the country’s soybeans lost four points at 65 per cent good to excellent as of Aug. 31, and corn dipped two points at 69 per cent. The spring wheat harvest progressed 19 points at 72 per cent complete, five points ahead of the five-year average.

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