Trade News

7 October 2008 Ontario could slide into deficit, Duncan says The following article is excerpted from the 7 October 2008 edition of the “Toronto Star”. Ontarians should brace themselves for a provincial budget deficit because of the global finance crisis, warns Finance Minister Dwight Duncan. In his…

7 October 2008 Economic experts at ATA deliver dire warnings and some glimmers of hope The following article is excerpted from the 6 October 2008 edition of “Canadian Transportation & Logistics”. US trucking executives attending the American Trucking Associations' popular All Eyes on the Economy…

7 October 2008 Statement by the Minister of Finance on the Unfolding Global Market Turmoil The following is excerpted from a news release issued by the Honourable Jim Flaherty, Minister of Finance, on 6 October 2008. "Tumultuous shocks to the global credit system, beginning in the United States and…

7 October 2008 Financial Crises Spread in Europe This article is excerpted from the 7 October 2008 edition of “The New York Times”. European nations scrambled on Sunday night to prevent a growing credit crisis from bringing down major banks and alarming savers as troubles in financial markets spread…

7 October 2008 Ocean lines likely to trim capacity after slack season This article is excerpted from the 6 October 2008 edition of “The Journal of Commerce”. Shipping lines are reducing their capacity in the trans-Pacific trade by about 15 percent during the slack season, but don’t expect the…

7 October 2008 Delayed Enforcement of Mandatory AES Filing Requirement The following article is excerpted from the 6 October 2008 edition of “WorldTrade Interactive”. According to sources, enforcement of the requirement for export data to be filed through the Automated Export System is being delayed…

7 October 2008 'A lengthy recession' This article is excerpted from the 6 October 2008 edition of “globeandmail.com”. Global leaders faced stark divisions over how to tackle the spiralling financial crisis yesterday as their governments tried to come to grips with another worldwide stock market…

7 October 2008 [US] Fed to buy up commercial paper This article is excerpted from the 7 October 2008 edition of “globeandmail.com”. The [US] Federal Reserve announced Tuesday a radical plan to buy massive amounts of short-term debt in a dramatic effort to break through a credit clog that is…

7 October 2008 New Mandatory CPSC Import Documentation Requirements [for US Importers] Effective November 12 The following note is from a client advisory issued by Sandler, Travis & Rosenberg, PA. New [US] import requirements for consumer goods will take effect Nov. 12 as a result of the Consumer…

6 October 2008 Outbreak of E. Coli in the United States and related cases in Ontario The following is excerpted from the 4 October 2008 news release by CFIA. The Canadian Food Inspection Agency (CFIA) is informing the public of its investigation into a possible food link between an E. coli O157:H7…

6 October 2008 Update to CFIA AIRS website Chapter 12 was published to add the end use of "Livestock feed" for the following HS codes. NO VERSION CHANGES. 12.08.10 - Flours and meals of oil seeds or oleaginous fruits, other than those of mustard - Of soya beans 12.08.90 - Flours and meals of oil…

6 October 2008 The Great Wall of the United States The following article is excerpted from the 4 October 2008 edition of “globeandmail.com”. It was written by Edward Alden, currently a senior fellow at the Council on Foreign Relations in Washington and author of The Closing of the American Border…

6 October 2008 Europe to Canada: Get your act together This article is excerpted from the 4 October 2008 edition of “globeandmail.com”. The two presidents of the European Union will arrive in Montreal on the Friday after Canada's Oct. 14 federal election for a meeting that Prime Minister Stephen…

6 October 2008 The gloom spreads north The following article is excerpted from the 4 October 2008 edition of “globeandmail.com”. …. Across the country, even in the seemingly unsinkable resource towns of the Prairies, the grim prospect of a U.S.-led global recession and credit crunch has exited the…

6 October 2008 Stocks sell off as financial crisis spreads The following article is excerpted from the 6 October 2008 edition of “globeandmail.com”. Stocks in Toronto fell hard Monday, as the price of oil dropped and the financial crisis rocking the United States showed signs of moving deeper into…

6 October 2008 Banks warn of ‘worse than recession’ The following article is excerpted from the 6 October 2008 edition of the “Toronto Star”. Economists from Canada’s Big Five banks say they expect little or no growth in the near future and they warned today that the domestic economy’s current gloom…

6 October 2008 Customs Update: [US] Ports truck battle This article is excerpted from the 3 October 2008 edition of “The Journal of Commerce”. It is by Susan Kohn Ross, International Trade Counsel at Mitchell Silberberg and Knupp LLP in Los Angeles. She is also the co-founder of http://www…

6 October 2008 Perilous time for Far East/Europe trade This article is excerpted from the 3 October 2008 edition of “American Shipper”. The Far East/Europe trade is flailing as the European Union ban on liner conferences approaches. Various media reports in recent days have base rates from major…

3 October 2008 McGuinty, Charest slam federal leaders for ignoring economy The following is excerpted from the 3 October 2008 edition of “globeandmail.com”. The premiers of Canada's two largest provinces accused leaders campaigning for the Oct. 14 federal election of not taking the economy seriously…