National Newswatch
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Coal Caught in U.S.-Canada Lumber Trade War Sends Stocks Sliding

Apr 26 2017 — — U.S. coal has found itself caught in the middle of a trade war between the U.S. and Canada over lumber. British Columbia Premier Christy Clark urged Canadian Prime Minister Justin Trudeau in an open letter Wednesday to ban U.S. coal shipments from the country’s westernmost province in retaliation for the Trump administration’s new tariffs on […]

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Trudeau’s Reward for Courting Trump Is a Trade War Over Lumber

Apr 25 2017 — Josh Wingrove — Justin Trudeau has always played nice with Donald Trump. The refugee-hugging liberal bit his tongue, flooded Washington with envoys, feted Ivanka Trump on Broadway and relentlessly talked up Canada-U.S. ties. It hasn’t worked. On Monday, Trump teed off a fresh trade war by slapping tariffs of up to 24 percent on Canadian softwood lumber as […]

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Trudeau Defends Dairy Subsidies After Trump Vows U.S. Farmer Aid

Apr 20 2017 — — Prime Minister Justin Trudeau said Canada will stick with its system of protectionist dairy quotas, even as President Donald Trump doubled down on a vow to help American farmers. Trudeau spoke Thursday in Toronto during an interview with Bloomberg. It was his first public response to Trump’s Wisconsin pledge to press Canada for changes to […]

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Pot Firms See Medical Exports Growing Under Trudeau Law

Apr 20 2017 — — Canada’s push to legalize recreational marijuana is rippling beyond its borders as companies move to boost exports of medicinal pot. Prime Minister Justin Trudeau’s government unveiled its framework last week, quelling concern it would clamp down on export permits for existing medical-pot producers such as Canopy Growth Corp. and Aurora Cannabis Inc. Those firms, which […]

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Canada Is the G-7’s Surprise Growth Leader, For Now

Apr 17 2017 — Theophilos Argitis — Almost out of nowhere, Canada has become one of the fastest growing economies in the developed world. The oil-producing nation, which struggled mightily with falling crude prices the past two years, grew at an annualized pace of almost 4 percent in the first quarter, according to the Bank of Canada’s latest estimates. No other Group […]

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Trudeau’s Budget Math Doesn’t Add Up on Export Growth

Mar 27 2017 — Theophilos Argitis — There’s something peculiar with a key performance goal in Prime Minister Justin Trudeau’s last budget. In a fiscal plan released Wednesday by Finance Minister Bill Morneau, the governing Liberals outlined a new growth strategy focused on skills training and innovation, and set out “clear and ambitious targets” to gauge the success of the program. One […]

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Canada’s `Lightweight’ Budget Is Mostly Wait and See on Trump

Mar 23 2017 — — He wasn’t mentioned once, but U.S. President Donald Trump was all over Canada’s minimalist budget. Prime Minister Justin Trudeau hit the brakes on new spending and major tax changes in a wait-and-see budget that marked a major shift for his activist administration, which last year unveiled an ambitious deficit-spending plan to stoke growth. It’s a […]

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Trudeau to Make Case That Growth and Redistribution Can Co-Exist

Mar 22 2017 — Theophilos Argitis — Prime Minister Justin Trudeau will try to convince Canadians he’s just as good at generating growth as he is at handing out checks. Bill Morneau, his finance minister, releases a budget at 4 p.m. Ottawa time that will address the country’s lackluster economic performance, and will lay out how the Liberals, who came to power […]

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Trump Said to Pick Donor Kelly Craft for Ambassador to Canada

Mar 1 2017 — — President Donald Trump has chosen Kelly Knight Craft, a long-time donor to Republican campaigns, including his own, as ambassador to Canada, according to a person familiar with the matter. Craft accepted the nomination and is completing the paperwork process required before Senate consideration, said the person, who asked not to be identified because the appointment […]

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Trudeau Says EU Must Spread Trade’s Benefits or Risk Its Decline

Feb 16 2017 — Josh Wingrove — The trade pact between Canada and the European Union approved this week could be one of the world’s last multilateral trade deals unless policy makers share the benefits more widely, Canadian Prime Minister Justin Trudeau told European lawmakers. Trudeau addressed the European Parliament in Strasbourg, France, on Thursday after both it and Canada’s House of […]

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Trump Team Leery of Having Too Many ‘Goldman Guys’ in Top Posts

Feb 12 2017 — — Goldman Sachs Group Inc. banker Jim Donovan is under consideration for the No. 2 job at the Treasury Department, said a person familiar with the deliberations, but he’s got one big thing working against him. Too many “Goldman guys” already have high-up positions in the Trump administration, the person said, and that could knock Donovan […]

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Germany Picks Anti-Trump President as Trans-Atlantic Bonds Fray

Feb 12 2017 — — Frank-Walter Steinmeier, the former German foreign minister who was a vocal critic of Donald Trump during the U.S. election, is poised to become the country’s 12th postwar president. The Social Democrat who served two stints as foreign minister under Chancellor Angela Merkel emerged as her governing coalition’s candidate last November as the parties sought to […]

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Canada’s AAA Rating Is on Thin Ice

Feb 10 2017 — — A Triple-Eh credit rating? For Canada, maintaining the trust of borrowers is a source of national pride, like winning the gold medal in Olympic ice hockey: hard-earned international validation of the nation’s skill, discipline and strong stewardship. But Fitch Ratings is warning that the country’s prized standing in the eyes of creditors may suffer because […]