Canada sees U.S. trade deal minus Mexico as fall-back option

(Corrects title of Royce Mendes, paragraph 9)By David Ljunggren and Andrea Hopkins Nov 10 Canada could fall back on a free
trade agreement that excludes Mexico if U.S. President-elect
Donald Trump follows through on radical protectionist policies,
officials said, predicting fears of a massive economic hit are
overblown.During a raucous election campaign, Trump vowed to either
renegotiate or scrap the 1994 three-nation North American Free
Trade Agreement, under which Canada sends 75 percent of all its
exports to the United States.Canadian Prime Minister Justin Trudeau said on Thursday that
“if Americans want to talk about NAFTA, I’m more than happy to
talk about it”, a day after Canada’s ambassador to the U.S. said
Ottawa would be “happy” to renegotiate NAFTA.The envoy, David MacNaughton, said that even if NAFTA were
torn up, the two nations would be bound by the terms of the 1987
Canada-U.S. Free Trade Agreement, the …
Go to Source

Canada pension boss sees opportunities after Trump win

* Sees ‘interesting opportunities’ in U.S. after vote* Keen on more infrastructure investment in U.S., Canada* Assets rise to over C$300 billion in second quarter

(Recasts; adds comments from CEO interview)By Matt ScuffhamTORONTO, Nov 10 The Canada Pension Plan
Investment Board, one of the world’s biggest dealmakers, sees
potential opportunities arising from Republican Donald Trump’s
election victory, its chief executive said in an interview.Mark Machin, who became CPPIB’s chief executive in June,
said equity markets were reacting positively to the Republican
party having control of the house and senate, potentially making
it easier to pass legislation, and to the possibility of lighter
regulation, particularly in the financial sector.He also identified Trump’s commitment to spend big on
infrastructure as a potential opportunity for investors.

“There’s a lot of expectation of increased fiscal stimulus,
less regulation, more economic activity, that’s getting priced
in here and that’s obviously helping the …
Go to Source

Canada's Trudeau should swallow pride — extend hand to Trump

It is time for Prime Minister Justin Trudeau to show some diplomatic acumen and some mettle. ADVERTISEMENTDonald TrumpDonald TrumpTrump talks with Canadian PM Preliminary list shows potential Trump Cabinet picks Report: Pence to meet with Biden, Ryan MORE’s victory in the United States presidential election has the potential to seriously disrupt relations between Canada and the United States. From Trump’s stances on free trade, to military alliances, to immigration and who should be allowed to visit the United States, there are a litany of directions that the president-elect could take American policy that would hurt Canadian interests.It does not need to be that way though.Since the War of 1812, relations between Canada and the U.S. have ebbed and flowed, but for the most part been constructive. This is particularly true since the end of the Second World War. Over these last 70 years, Canada and the U. …
Go to Source

Canada dairy farmers say Europe trade deal payout falls short

By Rod Nickel

WINNIPEG, Manitoba (Reuters) – The Canadian government said on Thursday that it would spend C$350 million ($259.88 million) to help its dairy sector compete against increased European imports allowed under a free trade deal, but the amount falls short of farmers’ expectations.

The money includes C$250 million over five years to help farmers update equipment, and C$100 million over four years to help dairy processors modernize operations, Agriculture Minister Lawrence MacAulay said in a statement.

Dairy Farmers of Canada, an influential lobby group, said the money only partially addresses “damage” that Canada’s free trade deal with the European Union will inflict.

Under the deal, European dairies would receive tariff-free access for an additional 17,700 tonnes of cheese, representing 2 percent of Canadian milk production, according to Dairy Farmers of Canada.

The previous Conservative government had promised C$4.3 billion over 15 years to compensate dairy, poultry and egg farmers, but that pledge …
Go to Source

Canada dairy farmers unhappy with Europe trade deal payout

(Corrects currency exchange to $259.88 million from $473
million in first paragraph)By Rod Nickel Nov 10 The Canadian
government said on Thursday that it would spend C$350 million
($259.88 million) to help its dairy sector compete against
increased European imports allowed under a free trade deal, but
the amount falls short of farmers’ expectations.The money includes C$250 million over five years to help
farmers update equipment, and C$100 million over four years to
help dairy processors modernize operations, Agriculture Minister
Lawrence MacAulay said in a statement.

Dairy Farmers of Canada, an influential lobby group, said
the money only partially addresses “damage” that Canada’s free
trade deal with European Union will inflict.Under Canada’s free trade deal with the European Union,
European dairies would receive tariff-free access for an
additional 17,700 tonnes of cheese, representing 2 percent of
Canadian milk production, according to Dairy Farmers of Canada.

The previous Conservative government, defeated last year by

Go to Source

Canadians ready for US influx

At almost 9,000 km long, the Canadian-American border has become the fault line for Trump anxiety. While Donald Trump has spoken about building a wall between the US and Mexico to keep immigrants out, it is Americans who may be trying to flee.During this election’s vicious campaign cycle, the idea of Americans heading to Canada became a political statement. Celebrities like Snoop Dogg, Bryan Cranston, and Lena Dunham have threatened to move north of the border to escape a Trump presidency. When that possibility edged closer to a reality late Tuesday night, the Canadian government’s Citizenship and Immigration website crashed …
Go to Source

Canada PM says to stick to carbon price plan despite Trump win

By David Ljunggren

OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau on Thursday indicated he would stick to plans for a national price on carbon despite the U.S. election win of Donald Trump, who opposes measures to fight climate change.

If Trump walks away from international agreements to cut greenhouse gases, the carbon price could add to Canadian firms’ costs and make them less competitive, according to critics.

Trudeau, who took power a year ago promising to do more to protect the environment, said last month that carbon pollution would cost C$10 a tonne in 2018, rising by C$10 a …
Go to Source

Canadian singer Leonard Cohen dies aged 82

Canadian singer Leonard Cohen has died aged 82, according to a statement on his official Facebook page.”It is with profound sorrow we report that legendary poet, songwriter and artist, Leonard Cohen has passed away,” the announcement said.”We have lost one of music’s most revered and prolific visionaries.”There were no details about the cause of Cohen’s death. A memorial will take place in Los Angeles at a later date, the announcement said.The Montreal-born singer’s hits included Suzanne and I’m Your Man and he released his 14th album, You Want It Darker, just last month.He was inducted into …
Go to Source

Trump foes vow to secede or flee to Canada

Americans unable or unwilling to reconcile themselves to a Trump presidency are getting creative as they search for an escape.Gaining steam on the left coast is the California secession movement, known as CalExit, which began trending nationally on Twitter as election momentum shifted Tuesday to Republican Donald Trump.Other Trump foes are weighing that old Democratic standby — moving to Canada. And then there’s the Change.org petition launched Thursday urging Electoral College voters to defy their state outcomes and cast their ballots for Democrat Hillary Clinton.For the truly desperate, the White House “We the People” website already …
Go to Source

CanadaAverage Canadian $21,686 in debt … not including mortgage

Nov 10, 2016, Last Updated: 1:19 PM ET

The average Canadian now owes $21,686 – and that doesn’t include mortgage.
That’s up from $21,195 in the same quarter last year, according to credit monitoring agency TransUnion.
We’re also getting worse at paying back our dues. “Serious delinquency” rates stood at 2.70%, up from 2.62% a year ago. The rising trends was led by Alberta and Saskatchewan, where the job market has been hit hard by the low price of oil in recent months.
The authors of the report released Thursday are especially concerned that if interest rates go up, even by 1%, as many as …
Go to Source