Canadian merchandise trade deficit balloons to $2.1 billion

Exports fell almost 3% in November, mainly as a result of lower crude oil deliveries

Canadian merchandise trade deficit balloons to $2.1 billionCanada’s merchandise trade deficit with the rest of the world widened from $851 million in October to $2.1 billion in November, according to data released on Tuesday by Statistics Canada. The federal agency said that was due to exports falling by 2.9 per cent in November, mainly on lower crude oil exports, while imports decreased…

Trans-Pacific trade deal carries huge potential for Canada

The agreement gives Canada a bargaining chip in dealing with large players outside the pact, such as China and the U.S.

Trans-Pacific trade deal carries huge potential for CanadaThe reworked Comprehensive and Progressive Trans-Pacific Partnership trade agreement between Canada and 10 other nations kicks in on Dec. 20. The federal government heartily endorses the deal it rescued after the U.S. administration abandoned it. But it concedes the deal itself may only increase Canadian gross domestic product by an estimated $4.2 billion, or about…

China sets debt traps, threatens militarily and seduces

We must be on guard as China carves a disturbing global role that goes well beyond trade malfeasance

China sets debt traps, threatens militarily and seducesAs China and the United States escalate their trade talks (or trade war), China is carving a disturbing global role that goes well beyond trade malfeasance. China has emerged as an old threat revived, the authoritarian seducer. The latest Human Freedom Index, published by Canada’s Fraser Institute, the U.S. Cato Institute and Germany’s Friedrich Naumann…

U.S. imports of Canadian heavy crude oil continues to grow

U.S. is by far the world’s largest refining market for heavy oil, processing more than half of all that type of crude globally in 2018

U.S. imports of Canadian heavy crude oil continues to growA new report released on Tuesday by IHS Markit says imports of Canadian heavy crude are an increasingly important source of supply to the United States, the world’s largest refining market for such crudes. The report, Looking North: A U.S. Perspective on Canadian Heavy Oil, said U.S. imports of Canadian heavy crudes will approach 2.8…

Justin Trudeau exposes his weaknesses, again

His political acumen falls short, as does his ability to stay on narrative or even appear genuine

Justin Trudeau exposes his weaknesses, againCanadian conservatives like to argue that the mainstream media does its darnedest to protect Prime Minister Justin Trudeau’s public image at all costs. By and large, this statement is valid. Yet there are moments when even the media can’t protect his backside – or doesn’t want to. Case in point: the PM’s interview with Rosemary…

Getting your veggie fix, from home and abroad

With El Nino on the way, vegetable prices will likely rise next year. But you can always opt for local produce – for a little extra cost

Getting your veggie fix, from home and abroadThe Food Price Report 2019 suggests that vegetable prices will go up by as much as six per cent next year. That’s significant because, unlike meat or fish, fewer alternatives exist when it comes to replacing vegetables. According to the report, recently released by Dalhousie University and the University of Guelph, El Nino will be…

Lower crude oil exports lead to jump in trade deficit

Crude oil export prices were down 15.4% in October, the strongest monthly decrease since February 2016: StatsCan

Lower crude oil exports lead to jump in trade deficitCanada’s merchandise trade deficit with the world widened from $891 million in September to $1.2 billion in October, according to Statistics Canada. The federal agency said on Thursday that the country’s exports were down 1.2 per cent in October, principally on lower exports of crude oil. Imports were down 0.6 per cent, mainly due to…

Interprovincial trade barriers are a national embarrassment

Studies suggest these constraints cost the Canadian economy up to $130 billion a year. But we can change that

Interprovincial trade barriers are a national embarrassmentBy Sen. Jane Cordy and Sen. Diane Bellemare Canada’s framework for interprovincial trade is patchy at best. While Canada has signed on to free trade agreements with countries around the world, there are significant barriers to the free flow of goods and services within our own borders. Studies have suggested that these interprovincial trade constraints…

It’s USMCA, not CUSMA or T-MEC

The U.S., Canada and Mexico signed the same trade document, but each country is calling it something different

It’s USMCA, not CUSMA or T-MECIt took a couple of years, but the United States-Mexico-Canada Agreement, or USMCA, was finally signed on Nov. 30. Or was it? Let’s go back a few steps. All three leaders – U.S. President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Peña Nieto (who was on his last day on the…

Canada’s economic competitiveness has slipped dramatically

We’ve lost our tax advantage over the U.S. and our regulatory processes have become far too onerous

Canada’s economic competitiveness has slipped dramaticallyBy Jake Fuss, Milagros Palacios and Jason Clemens The Fraser Institute In the classic Aesop's Fable, a slow-moving tortoise challenges a self-assured hare to a race. Immediately, the hare jumps out in front and becomes overconfident. He naps halfway through the race and wakes up to find his competitor passing him. When it comes to…

Canada needs freer dairy trade

The economic damage of supply management to Canadian families is significant. But we failed to get rid of it in recent trade talks

Canada needs freer dairy tradeThe new United States-Mexico-Canada Agreement (USMCA) is a mixed bag for Canadians. The bright side is that it’s certainly better than having no trade agreement, and is more desirable than the massive uncertainty that comes with not knowing whether an agreement will be reached. On the down side, trade between Canada and the United States…

Raise a glass of milk to Donald Trump

The U.S. president has helped Canadian consumers by forcing Canada to concede a portion of its dairy market

Raise a glass of milk to Donald TrumpBy Patrick Luciani and Owen Lippert Atlantic Institute for Market Studies If U.S. President Donald Trump is looking for friends, he won't find them in Canada, especially after dressing down Prime Minister Justin Trudeau for being “very dishonest” at the G7 meeting in Quebec earlier this year. That insult won't be soon forgotten. But unintentionally,…

Canadian trade deficit narrows

Import volumes decreased 1.5% while prices rose 1.1%: StatsCan

Canadian trade deficit narrowsCanada's merchandise trade deficit with the world narrowed to $416 million in September from $551 million in August, as imports fell 0.4 per cent while exports edged down 0.2 per cent, according to Statistics Canada. “Total imports fell 0.4 per cent to $50.8 billion in September, despite gains in six of 11 product sections. Import…

Globalism trumped by Trump’s international vision

Many thought his staunch nationalism would kill the economy and spark international conflict. They were wrong

Globalism trumped by Trump’s international vision“In less than two years, my administration has accomplished more than almost any administration in the history of our country,” U.S. President Donald Trump recently told the United Nations. His overstatement inspired some chuckles, to which he quipped, “So true. … Didn’t expect that reaction, but that’s okay,” he smiled as the laughter grew, overtaken…

Stephen Harper returns, and he has plenty to say

The former Conservative prime minister has advice for us on Trump, economics, immigration and more

Stephen Harper returns, and he has plenty to sayStephen Harper is back. After flying under the radar for the last three years, Canada’s former prime minister has returned to the arena, albeit not as an active politician. Instead, he’s a commentator with several messages to impart, all of which are packaged in his new book Right Here Right Now. Not everyone is impressed.…
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