November 15, 20240 Comments

Canada’s record economic gap with U.S. about to get wider

Breadcrumb Trail Links News Two economies headed in opposite directions Published Nov 14, 2024  •  Last updated 13 hours ago  •  4 minute read You can save this article by registering for free here. Or sign-in if you have an account. The election of Donald Trump threatens to widen that record economic gap between Canada and the United States, say economists. Photo by Getty Images Article content Canada’s economy has been

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November 14, 20240 Comments

Canada shares U.S. concern over Mexico’s trade practices

Article content Deputy Prime Minister Chrystia Freeland said she shares concerns voiced by counterparts in the United States about Mexico’s trade practices when it comes to Chinese imports. “I think those are legitimate concerns for our American partners and neighbours to have,” she said at a press conference in Ottawa on Wednesday. “Those are concerns that I share.” Mexico has been criticized for being a backdoor for cheap Chinese imports

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November 13, 20240 Comments

Canadian dollar hits four-year low as 71 cent U.S. threshold nears

Article content The Canadian dollar fell to a four-year low Wednesday with analysts keeping a sharp eye on the currency as it approached the critical barrier of 71 cents U.S. “If you look at the (Canadian dollar) chart over the past five years, we haven’t breached that level since the pandemic,” Sarah Ying, head of foreign exchange strategy at CIBC Capital Markets, said.The loonie is down 1.1 per cent since

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November 13, 20240 Comments

Gold nears seven-week low as U.S. dollar surges on Trump win

Article content Gold slipped to its lowest level in more than seven weeks as the U.S. dollar continued to strengthen following Donald Trump’s election victory. Bullion fell as much as 1.1 per cent — after sliding 2.5 per cent in the previous session — as a gauge of the dollar rose to its highest level in a year. The gains, which make commodities priced in the greenback more expensive for

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November 11, 20240 Comments

Trump said to name N.Y. Rep. Elise Stefanik as U.S. ambassador to U.N.

President-elect Donald Trump has offered N.Y. Rep. Elise Stefanik the job of U.S. ambassador to the United Nations and she has accepted the offer, they told the New York Post Sunday night. “I am honored to nominate Chairwoman Elise Stefanik to serve in my Cabinet as U.S. Ambassador to the United Nations. Elise is an incredibly strong, tough, and smart America First fighter,” Trump said in a statement to the

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November 11, 20240 Comments

Trump tariffs likely to lead to higher U.S. interest rates: IIF chief

Extreme tariffs proposed by U.S. presidential candidate Donald Trump would interrupt the path of disinflation and could lead to higher interest rates, according to the head of the Institute of International Finance. “The assumption is you’ll have higher inflation, higher interest rates than you would have in the absence of those tariffs,” Tim Adams, president and CEO of the IIF financial services industry trade group, told CNBC’s Karen Tso on

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