By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- United States President Donald Trump imposed a 25 per cent tariff on all of the country’s steel and aluminum imports on Monday. While the move drew strong criticism from Canadian Prime Minister Justin Trudeau, calling them “entirely unjustified” and “unacceptable,” the outgoing PM didn’t indicate what retaliatory action his government will take. A report suggested Trump’s action is likely in violation of CUSMA, the trade deal he was instrumental in negotiating in 2018.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Trump could be taken to task on Tuesday as the U.S. president is set to meet with King Abdullah of Jordan. While the Middle East kingdom is a strong ally of the U.S., Abdullah has been highly critical of Trump’s notion to remove all Palestinians from war-torn Gaza, relocate them in Jordan and Egypt, and have the enclave become part of the U.S. In return, Trump already threatened to cut U.S. aid to Jordan and Egypt if his Gaza demands aren’t met.
- The reportedly acrimonious relationship between Elon Musk and OpenAI CEO Sam Altman ramped up on Monday. Altman rejected a US$97.4 billion offer from a group led by Musk to acquire the OpenAI. In speaking about it, Altman stated on X, “No thank you but we will buy twitter for $9.74 billion if you want.”
- Statistics Canada reported on Tuesday that total building permits in December rose 11 per cent from November at C$13.15 billion. StatCan said residential permits were up by C$1.57 billion at C$8.97 billion while non-residential permits dipped C$262.17 million at C$4.18 billion.
