Ontario hits U.S. with power surcharge, deal with Canada to avoid oil tariffs 'possible'
Ontario's Electricity Export Surcharge: Ontario has implemented a 25% surcharge on electricity exports to the U.S. in retaliation for U.S. tariffs, potentially impacting 1.5 million homes and businesses in states like Michigan, Minnesota, and New York.
Government Response and Negotiations: The Ontario government is committed to using all available measures against U.S. tariffs, while U.S. officials indicate ongoing discussions with Canada may lead to a resolution regarding energy tariffs.
Trade with 70% Backtested Accuracy
Analyst Views on BBCA
No data
About the author
Carney of Canada States He Has Apologized to Trump Amid Reagan Ad Controversy
Carney's Apology: Canada's Prime Minister Mark Carney apologized to Donald Trump for a controversial advertisement aired in Ontario that featured Ronald Reagan warning against tariffs, which Trump found offensive.
Impact on Trade Talks: Following the ad's airing, Trump halted trade negotiations with Canada and increased tariffs by 10%, claiming the ad was misleading and possibly AI-generated.
Ad's Content and Defense: The advertisement included clips of Reagan stating that high tariffs lead to trade wars, while Ontario Premier Doug Ford defended the ad as a call for free trade between the U.S. and Canada.
Current Trade Relations: Despite Carney's apology, Trump indicated that trade talks with Canada would not resume in the near future amid the controversy surrounding the advertisement.
Canada's Composite PMI Declines in September Due to Private Sector Output Pressure
Canada's Service PMI: Canada's September final service PMI dropped to 46.3, significantly below the forecast of 49.0 and lower than August's figure of 48.6, indicating a contraction in the service sector.
Global Composite PMI: The global composite PMI also fell to 46.3 from 48.4 in August, suggesting a marked contraction in private sector output, with readings below 50.0 indicating deterioration in business activity.
Trump Cuts G7 Visit Short, Calls Canada Deal 'Achievable'
Meeting Overview: President Trump and Canadian Prime Minister Carney met at the G7 summit to discuss U.S.-Canada relations, focusing on trade tariffs and potential negotiations for a deal within weeks despite differing views on trade policies.
Key Issues Discussed: Trump criticized past leaders regarding Russia's exclusion from the G8 and hinted at upcoming actions concerning Iran, while both leaders agreed to continue negotiations over the next 30 days.
Canada to hold off response on higher U.S. metals tariffs
Impact of U.S. Tariffs on Canada: President Trump's decision to double tariffs on imported steel and aluminum to 50% significantly affects Canada, the largest supplier of these metals to the U.S., prompting Prime Minister Mark Carney to label the tariffs as "illegal" and "unjustified." However, Canada is currently holding off on retaliation while negotiating a new economic agreement with the U.S.
Concerns from Canadian Industry: Major Canadian labor unions and industry groups are urging the government to impose matching tariffs in response to the U.S. hikes, citing severe impacts on Canadian steel production and market access, with warnings that the U.S. market may be effectively closed to Canadian steel at the new tariff rate.
Carney insists Canada won't ever be for sale, Trump replies 'never say never'
Canada's Stance on U.S. Statehood: Prime Minister Mark Carney firmly stated that Canada is not for sale during his first meeting with President Trump, who suggested the benefits of Canada becoming the 51st U.S. state, including tax cuts and military support.
Meeting Dynamics: Despite differing views on tariffs and trade, the meeting was cordial, with Carney acknowledging Trump's impact as a "transformational president" and Trump complimenting Carney's recent electoral victory.
Canadian ETFs Energized by Carney's Stand Against Trump
Canadian ETFs Performance: Canadian Prime Minister Mark Carney's election coincides with strong performance from Canadian-focused ETFs, particularly the JPMorgan BetaBuilders Canada ETF (BBCA), which has seen over 16% returns and significant inflows despite deteriorating Canada-U.S. relations due to trade pressures.
Investor Trends: Various Canadian ETFs are attracting investor interest, with BBCA leading in performance, while others like iShares MSCI Canada ETF (EWC) and Franklin's FTSE Canada ETF (FLCA) show different methodologies and expense ratios, reflecting a diverse approach to investing in Canadian assets amidst economic challenges.
Carney of Canada States He Has Apologized to Trump Amid Reagan Ad Controversy
Carney's Apology: Canada's Prime Minister Mark Carney apologized to Donald Trump for a controversial advertisement aired in Ontario that featured Ronald Reagan warning against tariffs, which Trump found offensive.
Impact on Trade Talks: Following the ad's airing, Trump halted trade negotiations with Canada and increased tariffs by 10%, claiming the ad was misleading and possibly AI-generated.
Ad's Content and Defense: The advertisement included clips of Reagan stating that high tariffs lead to trade wars, while Ontario Premier Doug Ford defended the ad as a call for free trade between the U.S. and Canada.
Current Trade Relations: Despite Carney's apology, Trump indicated that trade talks with Canada would not resume in the near future amid the controversy surrounding the advertisement.
Canada's Composite PMI Declines in September Due to Private Sector Output Pressure
Canada's Service PMI: Canada's September final service PMI dropped to 46.3, significantly below the forecast of 49.0 and lower than August's figure of 48.6, indicating a contraction in the service sector.
Global Composite PMI: The global composite PMI also fell to 46.3 from 48.4 in August, suggesting a marked contraction in private sector output, with readings below 50.0 indicating deterioration in business activity.
Trump Cuts G7 Visit Short, Calls Canada Deal 'Achievable'
Meeting Overview: President Trump and Canadian Prime Minister Carney met at the G7 summit to discuss U.S.-Canada relations, focusing on trade tariffs and potential negotiations for a deal within weeks despite differing views on trade policies.
Key Issues Discussed: Trump criticized past leaders regarding Russia's exclusion from the G8 and hinted at upcoming actions concerning Iran, while both leaders agreed to continue negotiations over the next 30 days.
Canada to hold off response on higher U.S. metals tariffs
Impact of U.S. Tariffs on Canada: President Trump's decision to double tariffs on imported steel and aluminum to 50% significantly affects Canada, the largest supplier of these metals to the U.S., prompting Prime Minister Mark Carney to label the tariffs as "illegal" and "unjustified." However, Canada is currently holding off on retaliation while negotiating a new economic agreement with the U.S.
Concerns from Canadian Industry: Major Canadian labor unions and industry groups are urging the government to impose matching tariffs in response to the U.S. hikes, citing severe impacts on Canadian steel production and market access, with warnings that the U.S. market may be effectively closed to Canadian steel at the new tariff rate.
Carney insists Canada won't ever be for sale, Trump replies 'never say never'
Canada's Stance on U.S. Statehood: Prime Minister Mark Carney firmly stated that Canada is not for sale during his first meeting with President Trump, who suggested the benefits of Canada becoming the 51st U.S. state, including tax cuts and military support.
Meeting Dynamics: Despite differing views on tariffs and trade, the meeting was cordial, with Carney acknowledging Trump's impact as a "transformational president" and Trump complimenting Carney's recent electoral victory.
Canadian ETFs Energized by Carney's Stand Against Trump
Canadian ETFs Performance: Canadian Prime Minister Mark Carney's election coincides with strong performance from Canadian-focused ETFs, particularly the JPMorgan BetaBuilders Canada ETF (BBCA), which has seen over 16% returns and significant inflows despite deteriorating Canada-U.S. relations due to trade pressures.
Investor Trends: Various Canadian ETFs are attracting investor interest, with BBCA leading in performance, while others like iShares MSCI Canada ETF (EWC) and Franklin's FTSE Canada ETF (FLCA) show different methodologies and expense ratios, reflecting a diverse approach to investing in Canadian assets amidst economic challenges.
