CNN: Trudeau: Canada’s steel industry can breathe ‘sigh of relief’ after exemption. Canadian Prime Minister Justin Trudeau on Monday said he expects Canadians in the center of the steel industry can “breathe a sigh of relief” as trade talks continue between NAFTA members. Trudeau, speaking on CNN’s “Anderson Cooper 360” Monday, said he believed that relief was justified both by the exemption US President Donald Trump granted Canada and Mexico from his steel and aluminum tariffs and by the understanding he sensed in the US of “the level of complex integration between our two countries on steel and aluminum.” Trump has railed against major global trading partners, most recently by imposing a tariff on steel and aluminum exports, but granted an exemption to Canada and Mexico as the three countries approach a reorganization of NAFTA, the trade agreement Trump has threatened to tear up.
Forbes: How An Australia-Canada-Japan led TPP-11 trade deal compares to China’s alternative. Eleven countries just signed the revived Trans-Pacific Partnership, a huge free trade deal that once stood to cut import tariffs in 40% of the world economy. The United States backed out last year, ceding the leadership informally to Australia, Canada and Japan. The remaining 11 states went on to tweak the agreement. The slimming-down and remaining signatures make this trade deal more attractive to businesses than a similar concept advanced by economic superpower China, analysts say. It’s known as the Regional Comprehensive Economic Partnership, or RCEP. The TPP-11 deal as seen by trade experts would offer more than the China-backed RCEP for these three reasons:1. TPP-11 covers labor and the environment; RCEP misses them; 2. TPP-11 cuts tariffs further; RCEP more restrictive; 3. TPP-11 is a done deal, sort of. RCEP is stuck for now. By Ralph Jennings.
Bloomberg: Canada working to secure quick Nafta deal, Morneau Says. Nafta negotiations are weighing on companies’ investment plans and both Canada and the U.S. are hoping to make rapid progress in talks, according to Canadian Finance Minister Bill Morneau. “There are some businesses that are being cautious in investments because there is an expectation that Nafta could be slightly different tomorrow than it was yesterday,” Morneau said Monday in London. “What’s been clear from the American standpoint is they are anxious to have a conclusion to Nafta as near term as possible — we’re trying to work constructively towards that goal.” U.S. President Donald Trump has, for the time being, exempted Canada and Mexico from steel and aluminum tariffs. He has nonetheless threatened to impose the tariffs after all if the countries ultimately fail to secure an update to the trade deal.
VICE News: Canada is at risk of a banking crisis. Canada is among one of three economies in the world that is most at risk of a banking crisis, according to a new report by the Switzerland-based Bank for International Settlements (BIS). The report points towards excessive consumer debt levels amongst Canadians — particularly credit card spending — as a red flag on the state of the wider economy. In 2017, Canada’s economy grew at its fastest pace in six years, driven by high consumer spending particularly in the property sector. In the first three months of 2017 in fact, property prices in Toronto rose at unprecedented rates — an average of 25 percent each month between January and March.
Aljazeera.com: Nothing new or shocking about Trump’s threats to Canada. Myths can be reassuring and misleading. They are often, as well, easy substitutes for critical thinking among lazy writers whose gaze is permanently fixed on the present, without so much as an occasional glance at the not-so-distant past. These truths have been on abundant, telling display over the past few weeks as Donald Trump continues to ricochet wildly like a frenetic pinball, bouncing from one petulant tirade to another. Trump’s latest spasm of idiocy wrapped in the imprimatur of the presidential seal was his primary-school-yard-like taunts over trade and tariffs lobbed like diplomatic grenades at Canada – that loveable, cuddly country led by a loveable, cuddly prime minister. By Andrew Mitrovica
New York Times: A Black Woman Who Defied Segregation in Canada Will Appear on Its Currency. Nine years before Rosa Parks refused to give up her seat on a Jim Crow-era bus in Montgomery, Ala., Viola Desmond tried to sit in a whites-only section of a movie theater in New Glasgow, Nova Scotia. Ms. Desmond, a businesswoman who had her own line of cosmetics and who died in 1965, was prosecuted for trying to defraud the provincial government of 1 cent — the difference in sales tax for a seat in the balcony, where blacks were expected to sit and the whites-only ground floor ticket price. While she offered to pay the tax, she was convicted and fined 26 Canadian dollars, including court costs, at a trial at which the theater owner acted as the prosecutor and she was without a lawyer. Now she is about to become the first black person — and the first woman other than a British royal — to appear alone on Canadian currency.
Trinidad Guardian: Canadian High Commission celebrates solidarity. Celebrating Solidarity was the theme when Canadian High Commissioner Carla Hogan Rufelds hosted a Coffee and Conversation event on the occasion of International Women’s Day at the official residence of the Canadian High Commissioner, Club Room, Renaissance at Shorelands on May 8. Among speakers at the event was Dr Hedy Fry, Member of Parliament for Vancouver Central in the Parliament of Canada. Dr Fry was born in T&T and immigrated to Canada in 1970. She was first elected to Parliament for Vancouver Central in 1993, becoming the first rookie to defeat a sitting Prime Minister. She has been re-elected for seven terms between 1997-2015.
Russia Today: False flag: Canada lays out German tricolor for Belgian royals at WWI event. Canadian officials were left red-faced after accidentally using a German flag to greet the king and queen of Belgium, who were visiting the country to pay thanks to Canadian troops for their involvement in World War I. The offending flag was paired with the Canadian emblem and tied to a tree on the grounds of Rideau Hall in Ottawa, the residence of the governor general of Canada. Belgium’s King Philippe and Queen Mathilde were at the historic house to meet Governor General Julie Payette, who is Queen Elizabeth II’s representative in Canada.
Al Khaleej – United Arab Emirates: Ajman 5th International Environment Conference discusses climate change and sustainability. The Conference’s first session, chaired by Terrence Cooke, Director of Business Development, Science Target Inc., Canada, included a keynote address titled ‘Climate Change and Smart Water Management’ by Banu Ormeci, Director of Global Water Institute, Department of Civil and Environmental Engineering, Carleton University, Canada, and a keynote address titled ‘Resilience, Biodiversity, and Adaptation to Climate Change: The Ottawa Example’ by Nicholas Stow, Senior planner in the Resiliency and Natural Systems Planning Unit at the City of Ottawa, Canada. The fourth sessions of the Conference included keynote address titled ‘The City of Toronto’s Climate Change Adaptation Strategy to Mitigate Urban Flooding’ by Michael D’Andrea, Chief Engineer and Executive Director, City of Toronto, Canada, and a keynote address titled ‘Unconventional Water Resources as Climate Change Adaptation Measure’ by Vladimir Smakhtin, of the United Nations University Institute for Water, Environment and Health, Hamilton, Canada.
El Khadra – Algeria: Countries pressure Algeria to cancel imports ban. Several embassies, business associations, and European and non-European trade associations have expressed concern regarding the recent decisions affecting foreign trade and imports to Algeria, namely a ban on a list of foreign-sourced raw materials, import procedures, and a special hold on the repatriation of funds. France, Turkey, Italy, Russia, and Pakistan were among the complainers. On a different note, Algerian Trade Minister, Mohamed Benmeradi, has met and discussed the [Algeria-Canada] trade file with the Canadian Ambassador to Algeria, Patricia McCullagh, along with the President of the Council for Development Canada-Algeria (CDCA), Mustapha Ouyed, and other Algerian and Canadian business people.
Alghad Press – Iraq: Ministry of Economic Affairs seeks a MoU with Canada. The Undersecretary of the Ministry of Economic Affairs, Haitham Al-Khashali, have met with a delegation from the Canadian embassy in Baghdad and discussed the signing of a memorandum of understanding which provides for the import of Canadian spelt grain to the benefit of the Iraqi Ration Card System. The meeting also discussed strengthening economic, trade, and investment cooperation, and the exchange of Canadian expertise in cars manufacturing, silos construction and raw materials, and quality control. Al-Khashali stressed that Iraq is entering a reconstruction phase of its liberated territories, and invited Canadian corporations to attend the upcoming Baghdad International Fair to seek partnerships in the aforementioned industries. On his part, the Canadian Chargé d’Affaires in Iraq, Andrew Turner, stressed that Canada is keen on strengthening relations with Iraq, and pointed to his country’s desire to review and reactivate the Agreement on Trade, Economic and Technical Cooperation between the Government of Canada and the Government of the Republic Of Iraq, signed in 1982.
Al Anba – Kuwait: Canadian company awarded framework agreement to service oil projects in Saudi Arabia. SNC-Lavalin’s subsidiary in Saudi Arabia has been awarded a 5-year framework agreement to provide general engineering services to Al Khafji Joint Operations (KJO), a joint operating company between Aramco Gulf Operations Company Limited and Kuwait Gulf Oil Company. The signed agreement between KJO and SNC-Lavalin Kentz Engineering Consultancy will cover both on-shore and off-shore engineering projects to support KJO in maintaining the maximum sustainable production while utilizing the most up-to-date technology and implementing KJO’s continuous improvement program.
Al Arab – Qatar: The College of the North Atlantic in Qatar inaugurates new Academic Council. As a branch of a Canadian college, all academic regulations and programme reviews were previously governed by the home institution in Canada. As the College in Qatar moves toward stronger local governance and a national college framework, the academic approval process for credit programmes has been shifted to take place in Qatar, within a council of academic experts. Vice President of Academic Affairs, Samah Gamer, said that local decision-making will enable the College’s programmes to be more responsive to the needs of Qatar’s workforce.