Alberta to launch panel tour to 'chart a path forward' amid new pipeline talk
Alberta Premier Danielle Smith says a new panel will hit the road this summer with an eye on devising new measures for Alberta to assert autonomy and shield its economy from what she calls federal overreach.
The "Alberta Next" panel, which was announced in May, will hold a series of in-person town halls over the summer, with exact locations to be announced in the coming weeks. It will also collect feedback through online surveys.
Proposals that come out of those discussions could be put to a vote in a referendum next year.
"The Alberta Next panel will put Albertans in the drivers' seat," Smith told reporters at a news conference in Heritage Park in Calgary on Tuesday. "It will give them the rightful opportunity to decide how Alberta can become stronger and more sovereign within a united Canada."
Smith previously said she would chair the panel. In addition to Smith, the panel will include Environment Minister Rebecca Schulz, economist Trevor Tombe, and Adam Legge of the Business Council of Alberta, among others, with some still to be announced.
Long-running face-off with Ottawa
A government news release issued Tuesday stated that the panel would engage directly with Albertans to "chart a path forward for the province."
Wherever that path leads will be the latest development in a years-long face-off over energy and economic policy between Alberta and Ottawa.
"You know what Ottawa can't help but be fixated on? ... Punishing our energy sector and layering on policies to keep it in the ground," Smith said.
WATCH | How will Alberta Next panel affect province's relationship with Ottawa?:
The government said the panel would consult Albertans on subjects like the possibility of establishing an Alberta pension plan, switching to an Alberta provincial police service from the RCMP and considering potential immigration reform, among other issues.
Some of the subjects echo the UCP's former Fair Deal Panel, which produced 25 recommendations, including developing a plan to withdraw from the Canada Pension Plan and creating a provincial police force.
Asked by reporters Tuesday about how this effort would be different, Smith said that sometimes conversations that emerge out of the panel discussions lead to a "national dialogue."
"We identified six issues that we know have come up in the previous round of the Fair Deal Panel that we think Albertans now may want to put to a referendum so that we can take some action on them," Smith said. "But there may be others, and that's what we want to be able to explore."
Smith has said that her government doesn't plan on including a question on Alberta separation as a part of the 2026 referendum ballot. However, she reiterated Tuesday that citizen-initiated petitions could result in questions being added if the petitioners gather 177,000 signatures.
Lori Williams, an associate professor of policy studies at Mount Royal University in Calgary, said the addition of individuals like economist Tombe and Tara Sawyer, MLA-elect for Olds-Didsbury-Three Hills, suggested a balance of voices rather than a panel predisposed to a particular outcome.
However, she questioned the focus on issues such as an Alberta pension plan, which has already been studied at length.
"It raises questions, from a government that says it wants to listen to Albertans, that it keeps asking questions that it has already gotten ... clear 'no' answers to," she said.
Talk of new pipeline
On Tuesday, Bloomberg News reported that Smith told the news agency in an interview that she expected a private company would bring forward a proposal to build a new oil pipeline to the British Columbia coast within weeks. Smith has not named the company and no firm has yet publicly committed to the idea.
Asked by reporters at Tuesday's news conference about that report, Smith said she had been talking with all of the pipeline companies since she was elected.
"I feel like we're pretty close to having, either one or a consortium come forward," she said. "I would hope that that would happen very soon, because we need to send a signal to Albertans very soon and test the new process the prime minister is putting forward."
Last week, the Liberal government's major projects legislation passed in the House of Commons. It aims to reduce interprovincial trade barriers and speed up approvals for major projects in the national interest.
Specific projects haven't yet been identified, however Prime Minister Mark Carney has said decarbonized oil pipelines are "absolutely" in the national interest and would support both trade diversification and new industry development.
WATCH | MPs push through Carney's major projects bill before summer break:
Currently, the federally-owned Trans Mountain pipeline carries crude oil from Alberta to the West Coast. But Smith has been vocal about potentially revisiting a plan to ship oilsands crude to the northern B.C. coast, telling reporters at the Global Energy Show earlier this month that the province was working to entice a private-sector pipeline builder.
Smith has suggested that Prince Rupert, B.C., could work as a potential end point for the pipeline. Plans for the proposed Northern Gateway pipeline to export crude oil near Kitimat, B.C., were scrapped in 2016 following a court ruling that determined Ottawa failed to properly consult First Nations affected by the pipeline.
With talk of a revival of such plans on the radar, B.C. Premier David Eby said earlier this week that he opposed public funding for an oil pipeline to the north coast, but added he wasn't against a privately-backed option.
"What I don't support is tens of billions of dollars in federal subsidy going to build this new pipeline when we already own a pipeline [Trans Mountain] that empties into British Columbia and has significant additional capacity — 200,000 barrels," Eby said on Sunday.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
4 hours ago
- Yahoo
As Trump ends all trade talks with Canada, here's a complete guide to buying Canadian brands at the grocery store — food, drinks and more
Donald Trump has planned to end all trade discussions with Canada, hitting back at Ottawa for its digital services tax on web giants. The U.S. president indicated on Friday he wants the tax removed before he resumes negotiations, amidst the two countries being locked in talks as Canada tries to get him to lift his tariffs on Canadian goods. "It's not going to work out well for Canada. They were foolish to do it," Trump said from the Oval Office on June 27 about the digital services tax, adding the U.S. has "such power over Canada." During the G7 earlier this month, Trump and Canadian Prime Minister Mark Carney agreed they'd reach some agreement on the trade dispute within 30 days, according to CBC News. "We're going to stop all negotiations with Canada right now until they straighten out their act," Trump added, explaining if Ottawa removes the tax, which went into law last year, he'll be satisfied. "They will," he said. "They do most of their business with us. When you have that circumstance, you treat people better." After months of navigating tariffs and subsequent price increases, many Canadians are still choosing to put their money behind homegrown and manufactured goods. In a recent Yahoo Canada poll, a whopping 95 per cent of 10,000 readers indicated they want to buy Canadian products whenever possible, while only four per cent said the issue didn't concern them. "I fully intend to buy Canadian and leave American products on the shelves. Most people I know, as well as my family members, are all insisting that they will continue to restrict their purchases to Canadian products even if Trump does not impose tariffs," a Yahoo Canada reader said earlier this year via e-mail. "The threat of the punitive tariffs is enough. I will never buy American." "One option to push back on our American bullies is when we can't find a Canadian alternative, to buy Mexican in solidarity with our true allies — especially when it comes to our groceries," said another. "Failing that, [we can] buy anything other than American, we have lots of choices." "I was always conscientious about Canadian products but now I'm going to be laser-focused on it especially at the grocery store," a Yahoo Canada reader said. Click here to jump right to our list of Canadian grocery brands Trump's tariffs require companies importing products from Canada to pay a 25 per cent fee to U.S. Customs and Border Protection, which then goes to the General Fund of the United States. Once importing companies pay tariffs, they will likely adjust their retail prices to recoup the funds, making Canadian products more expensive for Americans. In order to maintain sales, Canadian manufacturers could potentially lower their sale prices to entice American importers and offset the impact of the tariff that the American company will have to pay. Similarly, products imported from the U.S. into Canada will require Canadian importers to pay retaliatory tariffs, which could push companies to raise their prices on imported goods. Essentially, tariffs mean that both Canadians and Americans would be paying more on imported products, which could influence consumers' buying decisions or impact importing and exporting. By shopping Canadian products and brands, consumers in Canada are exempt from tariffs, which means potentially saving money. Plus, there's the added benefit of supporting Canadian manufacturers who may be impacted by the U.S. import tariffs. Some grocery stores have opted to label Canadian made products with a Canadian flag next to its price tag to help conscious shoppers. Here are some other ways to tell if a product is made in Canada: Look for a 'Product of Canada' label This label means that approximately 98 per cent of ingredients, processing and labour used to produce the product areCanadian. According to the Government of Canada, products that claim to be "Canadian" are considered the same as "Product of Canada."Check for 'Made in Canada' labels When products are labelled as "Made in Canada," it means that a majority of the product's last substantial transformation occurred in Canada. A substantial transformation of a product would include combining ingredients to create a new product. For example, ingredients like eggs, sugar and butter undergo a substantial transformation to produce cookies. A product can also have a "Made in Canada" label if a majority (at least 51 per cent) of the costs incurred in manufacturing or producing the goods were incurred in Canada even if some ingredients are from other countries. Some packages may include qualifiers to ensure that the consumer knows some ingredients were imported from other countries. Examples of qualifiers can include: Distilled in Canada Refined in Canada Packaged in Canada Processed in Canada Look for 100% claims All ingredients, processing and labour for the product (and all of its components) are from Canada. If you're someone choosing to shop consciously given the tariffs, we've gathered a helpful list of Canadian brands and those manufactured in Canada to help you on your next grocery shop. ADL Agropur Arla's Foods Black Diamond Blakwell Dairy Bothwell Cheese Chapman's Cheez Whiz (manufactured in Canada) Daiya Eagle Brand Earth's Own D. Dutchmen Farms Danone (brands Activia, Oikos and Danone all prepared in Canada) La Fromagerie Kapuskoise Gay Lea Grass Root Dairies Halo Top Hewitt's Island Farms Laiterie de Caoticook Lactancia Kawartha Dairy Keenan Farms Kraft Singles (manufactured in Canada) Miller's Dairy Natrel Philadelphia Cream Cheese (manufactured in Canada) Saputo Shaw Ice Cream Sheldon Creek Dairy Silani Cheese Slate River Dairy Skotidakis St. Albert Cheese Factory Tre Stelle Triple "A" Cheese Thunder Oak Cheese Farm Upper Canada Creamery Gunn's Hill Artisan Cheese Dainty Natura Billy Bee Honey Club House Doyon Honey Crave (desserts and dry ingredients) E.D. Smith Jam Ferrero Five Roses Flour No Name Redpath Sugar Robin Hood Flour Shiriff Dr. Oetker You may want to support these Canadian brands and products brewed in Canada: 13th Street Arizona Hard Tea Brasseur de Montreal Blue Moon Black Horse Bohemian Canadian Club Carling Collective Arts Coors Edge Coors Seltzer Coors Light Coors Original Copper Rose Vodka Creemore Springs Crown Royal Dillons Dominion Ale Fine Company Beer Forty Creek Granville Island Brewing Georgian Bay Hop Valley Brewing India Beer Keystone Labatt Blue Laurentide Le Trou du Diable Mad Jack Madrí Excepcional Miller Genuine Draft Miller Lite Miller High Life Molson Canadian Molson Canadian Cold Shot Molson Dry Molson Exel Molson Export Molson Ultra Molson XXX Moosehead Vienna O'Keefe Old Style Pilsner Redstone Rickard's Simply Spiked Sol Tawse Vizzy Hard Seltzer You may want to support these Canadian brands and products manufactured in Canada: Arva Flour Mills Casa Mendoza Country Harvest D'Italiano Dempster's (manufactured in Canada) Dimpflmeier Bakery Gadoua Goh Goh Cereal Grandma Emily Holy Crap Cereal K2 Milling La Milanaise Little Northern Bakehouse NorQuin Nature's Path O'Doughs One Degree Organics Rogers Rudolph's Bakeries Sunny Boy Foods Sunny Crunch Foods Stone Mill Bakehouse Yumi Organics Wonder (manufactured in Canada) Brandt Meats Direct Plus Food Group: Grimm's Fine Foods McSweeney's Country Prime Meats Saporé Foods Freybye Greenfield Nautural Meat Co. Harvest Meats Lou's Kitchen Maple Leaf Foods Salumeria il Tagliere Sofina Foods: Janes, Lilydale, Mastro, San Daniele, Riserva, Cuddy, Vienna, Fletcher's, Zamzam Tony's Meats Audrey's Patisserie Camino Chocolate Celebration Cookies Covered Bridge Krack-O-Pop Dare Foods Ganong Chocolates Georgian Bay Granola Company Hardbite Hawkins Cheezies Hippie Snacks Hummingbird Chocolate Humpty Dumpty Inno Foods Johnvince Foods Kerr's Candy La Cocina Tortilla Chips La Montagne Chocolates Lady Sarah Cookies Laura Secord Chocolates Leclerc Made Good Foods Maple Leaf Cookies MDR Nomz Old Dutch OMG! Peace by Chocolate Purdy's Chocolate Ronnie's Original Jumbo Seeds Ross Chocolates Skippy's Kettlecorn Sun-Rype Uncle Bob's Popcorn Voortman Zak Organics Food Alymer Accents Buster Rhino BBQ Sauce French's Mustard (prepared in Canada) Fire in the Kitchen Greetalia Foods GoBio! Organics Heartbeat Hot Sauce Kozlik's Canadian Mustard Kraft Heinz Canada (manufactured in Canada) Little Creek (Salad Dressings) Lord's Hot Sauce PEI Sea Salt Co. Peppermaster Hot Sauces Renées Ro*Tel Silk Road Spices Spice of Life Selections The Ketchup Project Vancouver Sea Salt Windsor Salt Balzac's Coffee Roasters Bean North Roasting Beaver Rock Roastery Coastal Coffee Company Fratello Coffee Roasters Grounded Coffee Company Jumping Bean Coffee Just Us Coffee Laughing Whale Midnight Sun Coffee Roasters Muskoka Roastery Coffee Co. Nabob Salt Spring Coffee Salt Spring Coffee Kintore Coffee Co. Van Houtte 3 Teas Amoda Tea Auras Teas Blue Teapot Capital Tea ChaNoir Citizen Tea David's Tea Distincly Tea Escarpment Gardens Four O'Clock Teas Just Tea Premium Tea Red Rose Tea Shanti Tea Tea Desire Tea Santa Tealchemy Tealish The Naked Leaf The Tea Haus Four O'Clock Teas AlJuice Allen's Alphonso Apple & Eve Clearly Canadian Fairly Fruit Graves Great Value Happy Parent Hydra+ Kiju bilogique Naya Bottled Water Northland Oasis Old Orchard Old South PC Cola Rougemont Ruby Kist SunRype Switch The Pop Shoppe Walter Caesar Whistler Water Note: Coca-Cola and PepsiCo have manufacturing facilities in Canada, but are not Canadian brands. Arctic Gardens (manufactured in Canada) Compliments Cavendish Farms Green Giant (manufactured in Canada) Conscious High Liner Goods M&M Foods McCain Foods Nature's Path President's Choice Support Canadian pet food brands like: Arcana Canadian Naturals Nutram Pet Food Open Farm Orijen Cat Fo Oven Baked Tradition Bonterra Cascades Cashmere Purex Royale Scotties Sponge Towels Tru Earth Nature Clean
Yahoo
9 hours ago
- Yahoo
'I'm not a troublemaker': Condo board orders resident to remove Canadian flags from balcony
A senior in Calgary's southeast is left wondering why his condo board is no longer allowing him to display Canadian flags on his property. Jim McLeman, 78, is the retired owner of a 14th-floor suite in The Lookout, located at 801 2nd Avenue S.W. Despite displaying Canadian flags outside of his property for around two decades, he was surprised to recently learn his condo board has a bylaw with a zero-tolerance policy for flags. 'Basically, I'm breaking the bylaws and they're giving me until June 26 to remove it,' McLeman said. As of June 27, McLeman remains in his home and the flag still stands on his balcony. The flag flap comes as Canada Day, the celebration embracing the country's colours and flag, approaches. McLeman bought the property back in 1998 and moved in after the building was constructed in 2000. Every summer, he would proudly display a few of his Canadian flags. Originally, he had three on display. Now, he only has a single flag situated on the corner of his patio. The three-by-five-foot Canadian flag is attached to a broom handle, which is secured to a post. After receiving an email notifying him of the bylaw violation, he searched for answers as to why this was suddenly an issue. 'They haven't said what the penalty would be,' he said. 'They just said I was violating the board of condos' bylaws.' It indicated an anonymous individual brought the issue to the board's attention, and that their bylaws prohibit the display of flags since it can face challenges if it allows one but not another. When contacted by Postmedia, the property manager responsible for The Lookout stated they would not discuss the company's policy with a third party, or provide a reason why the flag was not permitted. An annual general meeting for condo owners and tenants was held June 19, but McLeman couldn't attend as his wife suffers from end-stage Parkinson's. Additionally, he would have been unable to address the issue there as unit-specific issues or disputes are addressed outside of the meeting. 'I thought that this could've been brought up with owners at the meeting, but I guess they feel it's not the time or place,' he said. As an immigrant from the extreme northern end of Scotland, McLeman said he's proud to display the Canadian flag outside of his property. 'I came here back in '67, I was just a 20-year-old kid,' he said. 'I'm proud to be a Canadian. I'm told I cannot fly my country's flag, and I cannot believe it.' As a symbol that some have died for, McLeman is shocked he's being told to remove it. 'I'm not a troublemaker, nobody's said anything about it or told me I can't do that,' he said. 'But if there was a good reason, nobody has given me anything.' Erin Berney, a partner with Field Law in Edmonton, said condo boards have the authority to pass bylaws pursuant to the Condominium Property Act in Alberta. 'So, when you think bylaws, think almost like regulations,' Berney said. 'That's how they're treated, interpreted, and that's how they're enforced by the courts. The Condominium Property Act actually gives the (condo) board the authority and the mandate to enforce their bylaws for their particular condo corporation.' Since each condo corporation is unique, bylaws vary from one property to the next. Regardless, Berney said prohibitions on flying flags or hanging flags and signs in windows are fairly common bylaw prohibitions. In the end, it all goes back to the condominium's bylaws. 'Does the board give any discretion at all to allow the owner to fly a flag or post a flag somewhere, anywhere?' Berney said. 'If it doesn't give the board any discretion, then there's not much he can do. 'That said, if there is discretion under the bylaws, then we want to look at whether the board has been exercising that reasonably and consistently with its past decisions on similar issues.' Although the National Flag Act of Canada exists, it's not very mandating. 'All it says really is that individuals who are in control of apartment buildings or condominium buildings should be encouraged to allow the national flag of Canada to be displayed,' she said. 'I could conceivably see somebody, an owner or a resident in a condo trying to invoke this legislation to challenge a condo bylaw, prohibiting flags from being displayed. 'I'm just not sure if it would succeed, given that this legislation just encourages. It doesn't mandate anybody to do anything.'
Yahoo
10 hours ago
- Yahoo
Trump tariffs live updates: Trump does not expect to extend July 9 tariffs deadline: 'I don't think I'll need to'
President Donald Trump said Sunday he did not plan to extend the July 9 tariff deadline he set for countries to broker deals with the US. "I don't think I'll need to," he told Fox News's Maria Bartiromo. He added, however, "I could, no big deal.' During a White House press conference on Friday, Trump said the July 9 deadline to raise "reciprocal" tariffs was not set. "We can do whatever we want," said at the press conference. "We could extend it, we could make it shorter," adding that his preference was to make it shorter. Also on Friday, Trump said he was cutting off trade talks with Canada and threatened to set a new tariff rate on the country's goods within the next week. Trump said the move was in response to Canada's move to implement a digital services tax on technology companies, calling it a "direct and blatant attack on our country." "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period," Trump wrote on Truth Social. The abrupt blow-up in US-Canada relations followed a flurry of optimism on the trade front that helped send stocks to new records on Friday. Most notably, the US and China stepped closer to a full tariff and trade deal, making a pact to formally cement the informal trade understanding reached in Geneva talks in May. US tariffs on Chinese imports will start at 30%, Treasury Secretary Scott Bessent said Friday. China tariffs on US imports will be 10%. The pact marks a significant step in stabilizing trade relations between the two countries, which lapsed into feuding soon after an initial truce in May. China has confirmed it will deliver rare earths to the US as part of the trade framework, and the US will respond by taking down its countermeasures, Commerce Secretary Howard Lutnick told Bloomberg. Lutnick also claimed that trade agreements with 10 key US trading partners are imminent, as countries from Canada to Japan struggle to get over the finish line with just two weeks to go. Bessent on Friday said the US could complete the balance of its most important trade talks by Labor Day. "I think we could have trade wrapped up by Labor Day," Bessent said in a Fox Business interview. The Trump administration has signaled a willingness to roll back the self-imposed tariff deadline of July 9 as pressure builds. Stephen Miran, chairman of the White House Council of Economic Advisers, told Yahoo Finance the tariff pause to be extended for countries negotiating "in good faith." So far, Trump has firmed up a trade deal with the United Kingdom. Trade talks with the European Union have also come into focus in recent days, with US tariffs of up to 50% on EU imports looming by that same deadline. A report said officials are optimistic about reaching a deal. Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. In a wide-ranging interview during which he also said he had a buyer for TikTok (whom he did not name), President Donald Trump said Sunday he did not think he would need to extend a July 9 tariffs deadline, Bloomberg reports: Read more here As the Independence Day holiday approaches, the fireworks used in displays across the US likely won't be affected by President Trump's tariffs, at least, not yet. A 90-day pause on the levies slated for imports from China is in effect, but such tariffs would hit the fireworks industry hard. Nearly all the fireworks used in the US are imported from China, the Associated Press reports. The price tag on future fireworks displays, however, are up in the air: Read more here The market's task of planning for how tariff developments will play out this summer got more complicated Friday as President Trump and his team offered a host of options for what to expect in the months ahead. First, Treasury Secretary Scott Bessent raised eyebrows when he suggested that his focus could be on an end-of-summer deadline, saying, "I think we could have trade wrapped up by Labor Day." But any hopes for a summer lull between now and then were short-lived when, just a few hours later, Trump offered multiple other scenarios during a wide-ranging press conference. At one point, the president reiterated his plan to send letters to dictate tariff rates for at least some countries, perhaps as soon as next week, saying, "It's going to go very quickly." Minutes later, he said that a July 9 deadline to raise "reciprocal" tariffs is not set and perhaps could move, but in an unpredictable direction. "We can do whatever we want," he told reporters of that deadline. "We could extend it, we could make it shorter," adding that his preference was to make it shorter. Read more here President Trump on Friday said he is cutting off all trade talks with Canada, threatening to set a new tariff rate on goods imported from the country within the next week. The reason, according to Trump: Canada's plan to implement a digital services tax, which could affect US tech companies. Trump's about-face throws a potential wrench in weeks of trade progress. Just hours earlier, the US and China cemented the trade truce first agreed to last month in Geneva. Here's Trump's Truth Social post on Canada, in full: On Friday afternoon, President Trump touted tariff revenue and an influx of domestic manufacturing but offered few details on the state of tariff negotiations ahead of the July 9 deadline, when the tariff pause expires. The president acknowledged that the administration won't be able to reach deals with 200-plus countries over the next week and a half. But he did not definitively say whether tariff rates would jump back up to "Liberation Day" levels. "We can do whatever we want," Trump told reporters in a press briefing, referring to the tariff pause. "We could extend it. We could make it shorter — I'd like to make it shorter. I'd like to just send letters out to everybody: 'Congratulations, you're paying 25%'" So far, the Trump administration has confirmed preliminary trade agreements with China (as of today) and the UK. Trump noted that officials are in the process of negotiating other deals, which he said are "going to go very quickly." In particular, Trump again teased a potential deal with India, which has faced roadblocks in recent weeks over some of the country's protectionist policies for certain sectors. "Some of the bigger countries, India, I think we're going to reach a deal where we have the right to go in and trade," Trump said. "Right now, it's restricted. ... We're looking to get a full trade barrier dropping, which is unthinkable, and I'm not sure that that's going to happen, but as of this moment, we've agreed to go into Indian trade." US and EU officials are confident of clinching a trade deal before a July 9 deadline, Bloomberg reported Friday. Amid continued progress on China, the US-EU talks have come in high focus ahead of that deadline, with US tariffs of up to 50% looming on EU imports. From the report: Read more here. Treasury Secretary Scott Bessent said on Friday that the US could wrap up its most important trade deals by Labor Day. "Secretary Lutnick said yesterday that he expects 10 more deals," Bessent told Fox Business Network in an interview. "So if we can ink 10 or 12 of the important 18, there are another important 20 relationships, then I think we could have trade wrapped up by Labor Day." Bessent's comments come after the US and China signed an interim trade agreement on Friday that would reduce tariffs while the two sides work toward a formal deal. Trump administration officials have softened their stance toward the July 9 deadline they set for themselves to hammer out trade pacts. On Thursday, White House press secretary Karoline Leavitt said the early July deadline "is not critical" while Trump's top economic adviser said he expected the US to extend the pause for countries negotiating "in good faith." The other shoe has dropped: Beijing has backed up the plans for trade easing laid out by the US, signaling warmer relations between the recently feuding sides. Bloomberg reports: Read more here. Nike (NKE) slipped this one into its earnings call last night: It could see a $1 billion tariff hit to profits this year! How does it plan to overcome that, you ask? By jacking up prices even more soon. How the consumer responds to the higher prices will determine if the tariff hit is a greater-than-expected weight on the business. Keep that risk in mind as the big premarket move excites you. We'll dive more into Nike's quarter on Opening Bid live at 9:30 a.m ET. President Trump has said the US could sign a 'very big' trade deal soon that would open up the Indian market to American businesses, even as both sides meet in D.C. to break a recent deadlock over key issues. Bloomberg reports: Read more here. President Trump said Thursday that the US and China have "signed" a trade deal, cementing months-long negotiations. The deal builds on meetings in Geneva between representatives of both nations and implements measures previously agreed upon. 'We just signed with China yesterday,' Trump said during remarks at the White House, without offering specifics. A White House official later clarified that both nations had agreed to a framework to implement the Geneva truce first negotiated in May. In that truce, the US and China agreed to a 90-day reduction in tariffs while working toward a formal deal. Talks had stalled over issues such as US export controls and China's rare earth exports. Earlier this month, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer met in London with Chinese Vice Premier He Lifeng. Following two days of negotiations, the parties said they had reached an agreement 'They're going to deliver rare earths to us,' Lutnick said in an interview with Bloomberg. "We'll take down our countermeasures", he added. The announcement comes a deadline looms for the US to reimpose tariffs of up to 50% on several trading partners by July 9 unless the countries reach permanent agreements. Lutnick has hinted that deals are incoming with the largest trade partners. "We're going to do top 10 deals, put them in the right category, and then these other countries will fit behind," he said. Bloomberg reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. After pausing his steepest tariffs in April, President Trump and his administration said the goal was "90 deals in 90 days." So far, the only agreement they have to show is with the United Kingdom. Bloomberg reports that a key sticking point in negotiations with trade partners has come from uncertainty as to whether other Trump tariffs — on metals, chips, and more — would still apply. From the report: In fact, the report said the UK deal provides a "cautionary tale": Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. White House Council of Economic Advisers chairman Stephen Miran spoke with Yahoo Finance's Brian Sozzi earlier today about the state of tariff negotiations two weeks out for the Trump administration's self-imposed July 9 deadline. That deadline marks the end of a tariff pause on the higher levels of "Liberation Day" tariffs. But with only one interim deal inked with the UK and several ongoing negotiations in play, it raises the question: What happens next? "My expectation would be that for countries that are negotiating in good faith and making progress that rolling back the deadline makes sense," Miran said on Yahoo Finance's Opening Bid. "I mean, you don't blow up a deal that's that's in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it." Sozzi adds: Read more here. Associated British Foods may become the first casualty of Britain's tariff deal with the US and have said it may have to close the UK's largest bioethanol plant by September if the government does not provide funding. Reuters reports: Read more here. Trade talks between India and the US have hit a roadblock in recent weeks, particularly over the level of tariffs in the auto, steel, and agricultural sectors. That's left an interim trade deal in jeopardy ahead of President Trump's July 9 deadline. Here are some key issues at stake, according to a Reuters analysis: Read more here. Toy prices are going up faster than ever, mainly because of new tariffs in an industry where most toys, about 75%, are made in China. It's one of the first signs of how new trade rules are quickly making things more expensive for Americans. The Washington Post reports: Read more here. The European Union leaders are expected to inform the European Commission on Thursday whether they would rather strike a quick trade deal with the US, even if that means accepting less favorable terms, or risk prolonging the standoff in pursuit of a better outcome. Bloomberg News reports: Read more here. In a wide-ranging interview during which he also said he had a buyer for TikTok (whom he did not name), President Donald Trump said Sunday he did not think he would need to extend a July 9 tariffs deadline, Bloomberg reports: Read more here As the Independence Day holiday approaches, the fireworks used in displays across the US likely won't be affected by President Trump's tariffs, at least, not yet. A 90-day pause on the levies slated for imports from China is in effect, but such tariffs would hit the fireworks industry hard. Nearly all the fireworks used in the US are imported from China, the Associated Press reports. The price tag on future fireworks displays, however, are up in the air: Read more here The market's task of planning for how tariff developments will play out this summer got more complicated Friday as President Trump and his team offered a host of options for what to expect in the months ahead. First, Treasury Secretary Scott Bessent raised eyebrows when he suggested that his focus could be on an end-of-summer deadline, saying, "I think we could have trade wrapped up by Labor Day." But any hopes for a summer lull between now and then were short-lived when, just a few hours later, Trump offered multiple other scenarios during a wide-ranging press conference. At one point, the president reiterated his plan to send letters to dictate tariff rates for at least some countries, perhaps as soon as next week, saying, "It's going to go very quickly." Minutes later, he said that a July 9 deadline to raise "reciprocal" tariffs is not set and perhaps could move, but in an unpredictable direction. "We can do whatever we want," he told reporters of that deadline. "We could extend it, we could make it shorter," adding that his preference was to make it shorter. Read more here President Trump on Friday said he is cutting off all trade talks with Canada, threatening to set a new tariff rate on goods imported from the country within the next week. The reason, according to Trump: Canada's plan to implement a digital services tax, which could affect US tech companies. Trump's about-face throws a potential wrench in weeks of trade progress. Just hours earlier, the US and China cemented the trade truce first agreed to last month in Geneva. Here's Trump's Truth Social post on Canada, in full: On Friday afternoon, President Trump touted tariff revenue and an influx of domestic manufacturing but offered few details on the state of tariff negotiations ahead of the July 9 deadline, when the tariff pause expires. The president acknowledged that the administration won't be able to reach deals with 200-plus countries over the next week and a half. But he did not definitively say whether tariff rates would jump back up to "Liberation Day" levels. "We can do whatever we want," Trump told reporters in a press briefing, referring to the tariff pause. "We could extend it. We could make it shorter — I'd like to make it shorter. I'd like to just send letters out to everybody: 'Congratulations, you're paying 25%'" So far, the Trump administration has confirmed preliminary trade agreements with China (as of today) and the UK. Trump noted that officials are in the process of negotiating other deals, which he said are "going to go very quickly." In particular, Trump again teased a potential deal with India, which has faced roadblocks in recent weeks over some of the country's protectionist policies for certain sectors. "Some of the bigger countries, India, I think we're going to reach a deal where we have the right to go in and trade," Trump said. "Right now, it's restricted. ... We're looking to get a full trade barrier dropping, which is unthinkable, and I'm not sure that that's going to happen, but as of this moment, we've agreed to go into Indian trade." US and EU officials are confident of clinching a trade deal before a July 9 deadline, Bloomberg reported Friday. Amid continued progress on China, the US-EU talks have come in high focus ahead of that deadline, with US tariffs of up to 50% looming on EU imports. From the report: Read more here. Treasury Secretary Scott Bessent said on Friday that the US could wrap up its most important trade deals by Labor Day. "Secretary Lutnick said yesterday that he expects 10 more deals," Bessent told Fox Business Network in an interview. "So if we can ink 10 or 12 of the important 18, there are another important 20 relationships, then I think we could have trade wrapped up by Labor Day." Bessent's comments come after the US and China signed an interim trade agreement on Friday that would reduce tariffs while the two sides work toward a formal deal. Trump administration officials have softened their stance toward the July 9 deadline they set for themselves to hammer out trade pacts. On Thursday, White House press secretary Karoline Leavitt said the early July deadline "is not critical" while Trump's top economic adviser said he expected the US to extend the pause for countries negotiating "in good faith." The other shoe has dropped: Beijing has backed up the plans for trade easing laid out by the US, signaling warmer relations between the recently feuding sides. Bloomberg reports: Read more here. Nike (NKE) slipped this one into its earnings call last night: It could see a $1 billion tariff hit to profits this year! How does it plan to overcome that, you ask? By jacking up prices even more soon. How the consumer responds to the higher prices will determine if the tariff hit is a greater-than-expected weight on the business. Keep that risk in mind as the big premarket move excites you. We'll dive more into Nike's quarter on Opening Bid live at 9:30 a.m ET. President Trump has said the US could sign a 'very big' trade deal soon that would open up the Indian market to American businesses, even as both sides meet in D.C. to break a recent deadlock over key issues. Bloomberg reports: Read more here. President Trump said Thursday that the US and China have "signed" a trade deal, cementing months-long negotiations. The deal builds on meetings in Geneva between representatives of both nations and implements measures previously agreed upon. 'We just signed with China yesterday,' Trump said during remarks at the White House, without offering specifics. A White House official later clarified that both nations had agreed to a framework to implement the Geneva truce first negotiated in May. In that truce, the US and China agreed to a 90-day reduction in tariffs while working toward a formal deal. Talks had stalled over issues such as US export controls and China's rare earth exports. Earlier this month, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer met in London with Chinese Vice Premier He Lifeng. Following two days of negotiations, the parties said they had reached an agreement 'They're going to deliver rare earths to us,' Lutnick said in an interview with Bloomberg. "We'll take down our countermeasures", he added. The announcement comes a deadline looms for the US to reimpose tariffs of up to 50% on several trading partners by July 9 unless the countries reach permanent agreements. Lutnick has hinted that deals are incoming with the largest trade partners. "We're going to do top 10 deals, put them in the right category, and then these other countries will fit behind," he said. Bloomberg reports: Read more here. Yahoo Finance's Pras Subramanian reports: Read more here. After pausing his steepest tariffs in April, President Trump and his administration said the goal was "90 deals in 90 days." So far, the only agreement they have to show is with the United Kingdom. Bloomberg reports that a key sticking point in negotiations with trade partners has come from uncertainty as to whether other Trump tariffs — on metals, chips, and more — would still apply. From the report: In fact, the report said the UK deal provides a "cautionary tale": Read more here. Yahoo Finance's Ben Werschkul reports: Read more here. White House Council of Economic Advisers chairman Stephen Miran spoke with Yahoo Finance's Brian Sozzi earlier today about the state of tariff negotiations two weeks out for the Trump administration's self-imposed July 9 deadline. That deadline marks the end of a tariff pause on the higher levels of "Liberation Day" tariffs. But with only one interim deal inked with the UK and several ongoing negotiations in play, it raises the question: What happens next? "My expectation would be that for countries that are negotiating in good faith and making progress that rolling back the deadline makes sense," Miran said on Yahoo Finance's Opening Bid. "I mean, you don't blow up a deal that's that's in process and making really good faith, sincere, authentic progress by dropping a tariff bomb in it." Sozzi adds: Read more here. Associated British Foods may become the first casualty of Britain's tariff deal with the US and have said it may have to close the UK's largest bioethanol plant by September if the government does not provide funding. Reuters reports: Read more here. Trade talks between India and the US have hit a roadblock in recent weeks, particularly over the level of tariffs in the auto, steel, and agricultural sectors. That's left an interim trade deal in jeopardy ahead of President Trump's July 9 deadline. Here are some key issues at stake, according to a Reuters analysis: Read more here. Toy prices are going up faster than ever, mainly because of new tariffs in an industry where most toys, about 75%, are made in China. It's one of the first signs of how new trade rules are quickly making things more expensive for Americans. The Washington Post reports: Read more here. The European Union leaders are expected to inform the European Commission on Thursday whether they would rather strike a quick trade deal with the US, even if that means accepting less favorable terms, or risk prolonging the standoff in pursuit of a better outcome. Bloomberg News reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
