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 said on Sunday that his administration will slap 25 per cent tariffs on all steel and aluminum imports. Trump’s formal announcement is expected to be made on Monday. The tariff will apply to U.S. imports from Canada, Mexico and other countries. Canadian Steel Producers Association CEO Catherine Cobden said Canadian steel production was heavily disrupted when Trump imposed tariffs in 2018 and another round of tariffs will result in the same thing. Currently, Canada accounts for 80 per cent of U.S. aluminum imports and is a major supplier of steel.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Trump also said on Sunday that the U.S. is making progress towards peace talks between Russia and Ukraine. While Ukrainian President Volodymyr Zelenskyy reportedly stated, “let’s do a deal,” Russian President Vladimir Putin cited a number of conditions must be met before there’s an end to the war. Those include Ukraine withdrawing its application to join NATO and Russia retaining most of the Ukrainian territory it already occupies.
- World leaders, including Canadian Prime Minister Justin Trudeau, gathered in Paris on Monday for an artificial intelligence summit. The two-day conference is expected to announce new investments in AI and measures to safely embrace the evolving technology. Several technology company CEOs claimed regulation will stymie further AI development.
- The cost of living emerged as the top issue in Germany’s snap election, Reuters reported on Monday. About 70 per cent of the 1,000 respondents in the R&V survey conducted Jan. 23 to 25 said prices remain too high although inflation has declined. Chancellor Olaf Schultz called the election after his coalition government collapsed. Voters cast their ballots on Feb. 23.
