Global Markets: Trump, Trudeau differ on border reopening

By MarketsFarm

WINNIPEG, Oct. 19 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canada and the United States appear to be at opposite ends when it comes to reopening their border. An agreement to keep it closed to other than commercial traffic is set to expire on Wednesday. U.S. President Donald Trump said last month that the border would be reopened soon. Meanwhile, Canadian Prime Minister Justin Trudeau said last week, “We keep extending the border closures because the United States is not a place where we would comfortable reopening those borders.”

– The number of reported cases of COVID-19 surpassed 40 million worldwide on Monday, according to the Johns Hopkins University Coronavirus Resource Center. However, medical officials believe the actual number of cases and deaths far exceed the numbers several countries have reported, according to Reuters. The number of deaths from COVID-19 was more than 1.11 million and over 27.53 million people have recovered. The U.S. has continued to lead the world in the number of reported cases at nearly 8.16 million with 219,680 deaths.

– The United Kingdom stated on Monday that it won’t return to trade talks with the European Union in January. As part of Brexit, the U.K. and EU have been attempting to forge a new trade deal. “We have been repeatedly clear that any agreement needs to be in place before the end of the transition period, and we will not be back to negotiate further next year,” said a spokesperson for U.K. Prime Minister Boris Johnson. “It has to be a fair agreement for both sides – we are not going to sign an agreement at any cost,” stated European Commission Vice-President Maros Sefcovic, indicating the EU is still willing to negotiate.

– New Zealand Prime Minister Jacinda Arden led the Labour Party to a victory in the country’s general election on Saturday. Labour scored 49 per cent of the vote to 27 per cent for the National Party. Arden will form the first one-party majority government under New Zealand’s system of mixed proportional representation. Since the 2017 election, Labour was the largest party in a three-party coalition.

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