Trade News

12 December 2008 Government Launches National Consultation on Budget Actions to Protect Canada’s Economy The following is excerpted from the 11 December 2008 press release by Finance Canada. The Honourable Jim Flaherty, Minister of Finance, today launched the Government’s national consultation…

12 December 2008 Loonie lifts off, hovers near 81 cents The following is excerpted from the 11 December 2008 edition of “globeandmail.com”. The Canadian dollar topped 82 cents (U.S.) at one point Thursday, but had settled back to 81.06 cents by the Bank of Canada's official close, up 1.67 cents from…

12 December 2008 Policy Rates Tumble The following was written by Peter G. Hall, Vice-President and Chief Economist, Export Development Canada. Still not convinced there’s a serious global economic slowdown in the works? Look no further than actions by key central banks in the last few days. By any…

12 December 2008 [US] Senate Drops Automaker Bailout Bid The following is exceprted from the 12 December 2008 edition of “New York Times”. The Senate on Thursday night abandoned efforts to fashion a government rescue of the American automobile industry, as Senate Republicans refused to support a…

12 December 2008 Policy Rates Tumble The following was written by Peter G. Hall, Vice-President and Chief Economist, Export Development Canada. Still not convinced there’s a serious global economic slowdown in the works? Look no further than actions by key central banks in the last few days. By any…

12 December 2008 Japan unveils stimulus package The following is excerpted from the 12 December 2008 edition of “globeandmail.com”. Japanese Prime Minister Taro Aso on Friday announced a stimulus package to shore up his country's economy, with measures to spur employment, encourage lending and…

12 December 2008 WCO Statement on Global Financial Crisis During the 60th session of the World Customs Organization (WCO) Policy Commission on 9-11 December, the WCO has released a communique from the international customs community regarding the global finanacial crisis of 2008. The communiqué is…

11 December 2008 Update on the Ongoing Negotiations with the Russian Authorities Regarding Exportation of Fish Products from Canada to the Russian Federation Further to the Industry Notice "Requirements to Provide the Russian Federation with Information on Certified Exports of Fish Products from…

11 December 2008 Canada's trade surplus better than expected The following was reported on in the 11 December 2008 edition of “globeandmail.com”. Canada's international trade surplus narrowed in October to $3.78-billion, the smallest since January, Statistics Canada said Thursday, as Canadians…

11 December 2008 A Carbon Tax vs Cap-and-Trade The Canadian Chamber of Commerce has released an economic paper titled “A Carbon Tax vs Cap-and-Trade” analysing the two systems of reducing the buildup of greenhouse gas emissions. The paper is written by the Chamber’s Senior Economist, Tina Kremmidas…

11 December 2008 U.S. Trade Deficit Rose in October The following is excerpted from the 11 December 2008 edition of “New York Times”. The spiraling financial crisis has hit American businesses where it hurts: exports are falling as foreign economies stumble, undercutting a pillar of the economy. The…

11 December 2008 Unexpected Drop in China’s Imports and Exports The following is excerpted from the 11 December 2008 edition of “New York Times”. Chinese exports registered their largest drop in nearly a decade last month, suggesting that the global recession could be far worse than many economists…

11 December 2008 ACE Capabilities on Entry Processing, Manifests, Etc. to be Expanded The following was reported on in the 11 December 2008 edition of “WorldTrade Interactive”. U.S. Customs and Border Protection is working to expand the capabilities of the Automated Commercial Environment over the…

10 December 2008 Recall of Pork and Pork Products from Ireland The following news release was issued by the CFIA on 9 December 2008; this is available on their web site at http://www.inspection.gc.ca/english/fssa/concen/2008irpore.shtml . The Canadian Food Inspection Agency is monitoring a Food…

10 December 2008 Orders in Council Available The following Orders in Council are available on the Canada Gazette website: 1. PC 2008-7759, Rules Amending the Tax Court of Canada Rules of Procedure respecting the Customs Act (Informal Procedure) http://canadagazette.gc.ca/partII/2008/20081210/html…

10 December 2008 Update to CFIA AIRS website Chapter 01 was published to add a new end use to the following HS codes for the USA for the end use: display in zoo. 01.06.19.2070.02 Coatis. This new requirement created a change of version for the following HS codes: 01.06.19.2070.03 - Kinkajous. 01.06…

10 December 2008 Big banks keep slice of deep rate cut The following article is excerpted from the 10 December 2008 edition of the “Toronto Star”. The Bank of Canada slashed its key interest rate yesterday by three-quarters of a percentage point to the lowest level in half a century and confirmed…

10 December 2008 New Year’s Border Tie-Ups Possible Unless US Adopts Contingency Plan for Electronic Collection of Border Crossing Fees: CTA This is an excerpt from a news release issued by the Canadian Trucking Association on 8 December 2008. The Canadian Trucking Alliance says the implementation…

10 December 2008 Port of Montreal not content to contain itself The following article is excerpted from the 9 December 2008 edition of “globeandmail.com”. The global economy might be slowing down and with it international trade, but so far it is having little effect on the Port of Montreal…