Ford confident about eventual deals with Quebec, Newfoundland and Labrador
Donald Trump's trade war
. Canadian officials estimate an additional $200 billion a year could be generated for the economy if internal barriers to trade are removed.
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2 hours ago
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Islanders from east to west 'thrilled' about Confederation Bridge toll, ferry rate reductions
Friday marked the first day that Confederation Bridge tolls and ferry fares were reduced on Prince Edward Island, and local businesses are already feeling the excitement. Prime Minister Mark Carney visited the Island on Monday to announce that the bridge toll would go down to $20 from $50.25, and that rates to use the ferry would be cut by 50 per cent starting Aug. 1. Jared Murphy, CEO and co-owner of Lone Oak Brewing Company, said the change will help small businesses in the province. "$30 is $30.... If it's in somebody's pocket and they're looking to spend it, I really do think they'll spend more money in P.E.I. and it will help small business because of that," he said. "I think this will entice people to visit P.E.I. more often. Certainly coming from the mainland over here and making a day trip out of it, it's going to be more affordable for people to do that." Lone Oak operates multiple locations on the Island, including at the foot of the Confederation Bridge in Borden-Carleton. Murphy said the toll reduction will also allow him to sell more of his products off-Island. "We're getting our product over onto the mainland more and more now, and this is going to certainly make it more affordable." Cora Lee Dunbar, chief administrative officer for Borden-Carleton, said she noticed more traffic headed to the bridge on her way into work Friday. WATCH | Travellers and Islanders take advantage of reduced Confederation Bridge fee: Dunbar said having the bridge toll at $20 will help P.E.I. compete with other provinces as a tourism destination. "It's great news for the economy. It's great news for our town," she said. "I'm thrilled that they've decided to reduce the fee. It's something that's been we've been waiting for for a long time and we're going to see definitely an increase in traffic flow." There are seven years left in Ottawa's contract with the bridge's operator, Strait Crossing Bridge Limited. The federal government said it would revisit the toll cost when that deal expires. Excitement in the east In Wood Islands, on P.E.I.'s southeast coast, there were long lines of vehciles waiting to take the ferry across the Northumberland Strait to Nova Scotia on Friday. Treena MacLeod, owner of Treena's Takeout near the ferry terminal, said the fare reductions will be good for eastern P.E.I. WATCH | Spirits high in P.E.I. as ferry rates drop by half: "I think it will make a big difference" she said. "People who probably would have never have taken [the ferry might] make a day trip or a little weekend." The ferry service between Wood Islands and Caribou, N.S., has faced its share of struggles ever since the MV Holiday Island caught fire in 2022 and had to be scrapped. Reliability issues and frequent cancellations have plagued the service ever since. While MacLeod said the reduced fees may not make up for those past service issues, the lower cost should drive more people into the area. "We could use some good news," she said. "It will definitely increase traffic, and it's something positive that we all could use." Much like with the Confederation Bridge tolls, the fares for the Northumberland ferry route won't change for at least the next four years when the contract with the vessels' operator, Northumberland Ferries Limited, is up.
Yahoo
3 hours ago
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2 Stalwart Canadian Stocks to Buy During Tariff Uncertainty
Written by Puja Tayal at The Motley Fool Canada Large tariff or low tariff? That is the question. There have been months of negotiations, but rarely has there been an outcome that is welcoming to all. Such is the state of global trade. Protectionist measures by the world's largest consumer, the United States, have made it expensive for the world to access the American market. The tariff uncertainty has made investors and companies indecisive about the road ahead and, consequently, affected stock markets worldwide. Why the tariff uncertainty? Recently, U.S. president Donald Trump negotiated a 15% across-the-board tariff with Europe and Japan, a shift from the previously 30% and 25% tariffs suggested on August 1. The two countries also promised to invest in the United States. While these negotiations were considered a win by the two countries, Trump did not negotiate on steel and aluminum imports to the United States. The next in line is Canada. Europe and Japan are not as dependent on the United States as Canada. Canada's Prime Minister Mark Carney stated that the country's geographical closeness and energy exports to the U.S. put it in a different situation. Canada has a free-trade agreement on certain goods and expects to retain that. Bombardier was a beneficiary of this agreement. Moreover, Canada has a lower tariff of 10% on oil exports. The negotiations will determine if the 20% tariff on other goods increases to 35% or is reduced. When such uncertainty exists, investors, consumers, and businesses stall their decisions. Low business and investing activity stagnates growth. At times, it creates panic among investors, who then opt for safer stocks that continue doing business or benefit from the situation. Two stalwart Canadian stocks to buy during tariff uncertainty Canadian energy stocks have the biggest exposure to exports to the United States. Whereas Canada imports several grocery items from the United States. As Canada's dependence on the U.S. exports is greater, it is only imposing counter-tariff policies on products for which it has alternatives. Loblaw's (TSX:L) second-quarter earnings reflected that. Loblaw Loblaw noted that Canadians are seeking value, quality, and service. Its food retail business saw growth in same-store traffic, basket size, and item count as the grocer focused on Hard Discount and Real Canadian Superstores banners. The grocer's pharmacy brand, Shoppers Drug Mart, saw strong growth in specialty drug and prestige beauty categories. Loblaw is expanding rapidly. It is on track to open approximately 80 new stores and 100 new pharmacy clinics this year to increase its reach to more communities across Canada. More stores will lead to more revenue. Loblaw's cyclical rally can be attributed to a shift in consumer buying trends towards discounted products. In a tough economy, Loblaw outperforms but underperforms in a growing economy as buying shifts to discretionary. Loblaw stock surged 30% between February 21 and May 30, during the first round of Trump tariffs. That was the time when the entire Toronto Stock Exchange (TSX) fell. If the tariff negotiations move in Canada's favour, Loblaw stock could remain stagnant. But if the negotiations go sideways and a higher tariff is implemented, Loblaw stock could rally as consumers may stock up on goods before the new high-tariff goods hit the shelf. Loblaw is also splitting its shares 4-for-1, effective August 18, to make them accessible to retail investors. It means you won't have to shell out over $220 to buy one share. They will be available for under $60, depending on what the share price is in August. Descartes Systems While Loblaw gives you a contrarian approach, Descartes Systems (TSX:DSG) gives you a buy-the-dip approach. At present, the stock is down 16% from its February peak when tariff uncertainty began. The supply chain solutions provider is affected by a slowdown in trade activity as companies adopt a wait-and-watch approach. A favourable negotiation could pump up trading activity as companies prepare for the holiday season. The August 1st tariff deadline has stalled Descartes's seasonal rally. Now is the time to buy the stock as the seasonal rally could increase the stock price by more than 30%. The company is well prepared to take on higher trade volumes. In conclusion Every scenario presents an opportunity. Following the money trail will tell you where to look. As long as money is not locked in vaults and is exchanging hands, there will be growth somewhere. The post 2 Stalwart Canadian Stocks to Buy During Tariff Uncertainty appeared first on The Motley Fool Canada. Just Released! 5 Stocks Under $50 (FREE REPORT) Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $50 a share. Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune. Don't miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now. Claim your FREE 5-stock report now! More reading 10 Stocks Every Canadian Should Own in 2025 3 Canadian Companies Powering the AI Revolution A Commonsense Cash Back Credit Card We Love The Motley Fool recommends Descartes Systems Group. The Motley Fool has a disclosure policy. Fool contributor Puja Tayal has no position in any of the stocks mentioned. 2025 Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Trump tariffs: What are the sticking points in the Canada-US trade negotiation
Prime Minister Mark Carney has remained tight lipped following U.S. President Donald Trump's announcement he would raise the tariff on Canada from 25 per cent to 35 per cent. His policy, while Canada-U.S. trade talks are ongoing, is not to negotiate in public. Mercedes Stephenson breaks down the major sticking points that could be slowing down the negotiations.
