Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– Canada’s premiers and Indigenous leaders will meet in Muskoka, Ont. to discuss trade, tariffs and other topics in a three-day summit starting on Monday. Prime Minister Mark Carney will join them on Tuesday to provide an update on negotiations for a new deal between Canada and the United States. The U.S. threatened 35 per cent tariffs on Canadian goods not already included in the Canada-U.S.-Mexico Agreement starting Aug. 1 and Carney said a deal without tariffs is unlikely. Also on the agenda will be wildfires, Arctic security, labour mobility, immigration, health and public safety.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– Unionized workers at Canada Post will vote on the company’s latest contract offer starting today, but the Canadian Union of Postal Workers is urging its members to reject the proposal. The vote was implemented by the Canadian Industrial Relations Board by request of federal Jobs Minister Patty Hajdu. The offer includes 13 per cent wage hikes over four years. Canada Post’s operating losses were C$10 million per day in June, according to a company spokesman. A study released today by the Canadian Federation of Independent Businesses said that 63 per cent of businesses could stop using Canada Post permanently if there is another postal strike.
– A petition against a French farm bill which would loosen environmental regulations for farming and approve the use of a pesticide reached a record-breaking 1.3 million signatures on Monday, prompting a parliamentary debate. The bill would approve the use of neonicotinoid pesticide acetamiprid, as well as simplify approval for livestock breeding facilities and ease irrigation rules. The petition called the bill a “scientific, ethical, environmental and health aberration.” French farmers say the bill would help them compete with other European Union nations.
– Japanese Prime Minister Shigeru Ishiba said earlier today he will remain in office after his coalition government had disappointing results in the country’s upper house elections. His Liberal Democratic Party and coalition partner Komeito failed to win a majority of seats despite having the most in both houses. The opposition centre-left Constitutional Democratic Party said it would consider submitting a vote of non-confidence, while the far-right Sanseito party increased its seat count from one to 14. Japan faces 25 per cent tariffs from the U.S. with the latter asking Japan to import more of its rice and crude oil.
