Foreign Trade Zone designation to bring jobs and business opportunities to Windsor-Essex

August 3, 2017

FTZ title will help promote the region and attract investors

Windsor-Essex has been designated a Foreign Trade Zone, a title federal politicians hope will help bring business opportunities and jobs to the region.

The area is the eighth such zone in Canada, according to Minister of Innovation, Science and Economic Development, Navdeep Bains.

Canada gives in to EU concerns, revises plan for European cheese imports

August 1, 2017

European trade deal takes hold Sept. 21 with 18,000 tonnes of new cheese imports phased in over 5 years

Trade Minister François-Philippe Champagne has disappointed Canada's dairy industry with a reworked plan for how nearly 18,000 tonnes of European cheeses will be imported once Canada-EU trade deal takes effect in September.

A much-anticipated announcement came Tuesday on how Canada will allocate tariff rate quota (TRQ) for 16,000 tonnes of fine cheese and 1,700 tonnes of industrial cheese.

Trump’s Buy America NAFTA objectives ‘rather outrageous,’ says trade lawyer

August 1, 2017

The United States wants to maintain and even expand the Buy America provisions that restrict government procurement to companies using materials from within its borders, while making it easier for U.S. firms to get those contracts in Canada and Mexico.

The contradictory goal was among the objectives for the revamped North American Trade Agreement that U.S. Trade Representative Robert Lighthizer released earlier this month, suggesting the Americans want to have their cake and eat it too.

NAFTA Freight Flows Continue to Rise Ahead of Renegotiation

August 1, 2017

The value of monthly freight flows between the U.S. and its NAFTA partners totaled $98.2 billion in May, up 7.8 percent from April and 9.4 percent from a year earlier, according to [U.S.] Department of Transportation statistics. The year-on-year increase was the seventh consecutive month of such gains and comes as the three countries prepare to launch talks on renegotiating the agreement on Aug. 16.

The value of total U.S. trade with Canada jumped 8.9 percent from April to May to $51.2 billion and was up 11.4 percent from a year earlier...

Business Barometer: Confidence remains stalled

August 1, 2017

Canada's small business optimism failed to pick itself up in July, slipping 0.2 points to 60.7, according to the Canadian Federation of Independent Business (CFIB)’s Business Barometer®.

“Below par results in Ontario are continuing to weigh down cross-country confidence,” said Ted Mallett, CFIB Chief Economist. “We also saw small declines across western Canada which muted stronger results in Manitoba, Quebec and the Atlantic region. Overall the results are mediocre by historical standards, but in line with the sentiment we’ve seen over the last half of last year.”

Canadian dollar tops 80 cents US for 1st time in 2 years

July 24, 2017

Loonie gains almost 10% in 6 weeks, buoyed by strong job market, retail sales and factories ramping up

The Canadian dollar climbed above 80 cents US on Monday morning for the first time since the summer of 2015.

The loonie rose a third of a cent, pushed by strong data on manufacturing sales and a glowing assessment of the country's economic outlook by the International Monetary Fund.

A Comeback for Global Trade?

July 20, 2017

It has been a dreary decade for international trade. From the heights in 2008, global trade flows plunged, staged a quick partial revival, then went into a holding pattern from then until now. In terms of trade intensity, we are far from what we used to be, and many are resigned to our current state as a permanent new normal. The debate on the future of trade has reached a fever pitch, and resulted in a lot of public acrimony. In the context of trade’s track record and the public backlash against its supporting architecture, is a comeback even possible?

NAFTA Review

July 18, 2017

The NAFTA review is well underway, with the United States government announcing yesterday its objectives for the upcoming negotiations.  The deadline for providing comments to the Canadian government is today, July 18.

The CSCB has provided comments to the Government of Canada on behalf of members and their clients, and we intend to collaborate with our counterparts in the United States (NCBFAA) and Mexico (CAAAREM) to identify areas of common interest as the negotiations unfold. A copy of the CSCB paper will be circulated to members later this week.  

IMF gives Trudeau government passing grade, but warns of longer term challenges

July 14, 2017

The International Monetary Fund has given the Trudeau government a passing mark for its handling of the economy since coming to power, but warns that “more difficult challenges lie ahead.”

The comments are contained in an annual report released by the Washington-based organization [on July 13, 2017] that credited the Liberals with helping the Canadian economy regain momentum. 


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