Canadian News Channel

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.

Shifting Stateside? Think About It…

July 27, 2017

The stakes are high. For some, they’re about as high as they get. Tough talk south of the border has Canadian exporters worried that if they don’t relocate to the US, they will lose their sales there. These fears are not made up; they are real. And they are being validated by US buyers who have bought in to ‘America first’ thinking. All year exporters have been asking me what I think they should do. Clearly, every business situation is different, and the answers have depended on the particulars of the situation.

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. 

Bank of Canada raises interest rate for 1st time in 7 years to 0.75%

July 13, 2017

The Bank of Canada has raised its key interest rate as expected to 0.75 per cent — the central bank's first move upward in the cost of borrowing in seven years.

The bank's target for the overnight rate — at which major financial institutions make one-day loans to each other — moved up by one-quarter of a percentage point from 0.50 per cent.

In a statement accompanying the rate decision, the central bank said the Canadian economy has been robust, fuelled by household spending...

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