
Maine governor calls Trump tariffs ‘a big tax heist'
The current tariffs straining the long-standing trade relationship between Canada and the United States are nothing more than a 'tax on American people, according to the governor of Maine.
'The president is taking trillions of dollars in so-called tariffs that are really taxes importing into the putting into the federal budget,' Gov. Janet Mills told CTV News Atlantic's Todd Battis. 'People are waking up and understanding that this is a big tax heist, as the Wall Street Journal described it.'
Mills says the tariffs are impacting Maine's 176 craft breweries, its forestry sector and the seafood industry.
'Putting tariffs on lobster and seafood when these lobsters don't know if they're a Maine lobster or Canadian lobster, they go back and forth to be processed,' Mills says. 'It's really unfair and irrational.'
Next week Mills and other New England governors will meet in Boston to discuss trade and tariffs with six Canadian premiers. Massachusetts Gov. Maura Healy extended the invitation to the premiers last month.
Mills plans to reinforce the longstanding relationship her state has with the various provinces and discuss creative ways the two sides can maintain economic stability amid the trade war.
She will also tell Canadian leaders her intentions to continue pressuring congressional delegations in the northeastern United States to 'take back their power' and stop 'harming our deep seated relationship with Canada.'
Speaking with reporters Thursday, New Brunswick Premier Susan Holt said she will be looking to encourage the New England governors to make it clear to the White House how tariffs are damaging both sides of the border.
'We can get those messages through to the people that we hope can influence the president,' says Holt. 'To move off of his 50 per cent tariff on aluminum and his tariff on autos, and land in a place where we have the kind of free and open trade that we've had before.'
'I've been talking with small businesses up and down the coast and interior Maine who've always had friends and family come from Canada to visit in the summer,' says Mills. 'Now they're canceling reservations, and I hate to see that happen.'
The Maine government has been posting signs across Maine saying 'Welcome' or 'Bienvenue Canadiens!'
It's a relationship that goes far beyond just business.
'Our families, cultures, cuisine, languages are all entwined,' Mills says, noting her family originally came from Pugwash, N.S. 'Especially in Maine with a 611-mile border between [us], New Brunswick, Quebec, and the Atlantic provinces.'
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Globe and Mail
an hour ago
- Globe and Mail
TransAlta Reports Strong Q2 2025 Results and Strategic Progress
TransAlta Corp ( (TAC)) has released its Q2 earnings. Here is a breakdown of the information TransAlta Corp presented to its investors. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. TransAlta Corporation is a leading energy company based in Calgary, Alberta, with operations in Canada, the United States, and Australia. The company specializes in the generation and sale of electricity, with a diverse portfolio that includes wind, hydro, and thermal power assets. TransAlta is recognized for its commitment to sustainability and innovation in the energy sector. In its second quarter of 2025, TransAlta Corporation reported robust financial results, showcasing the strength of its diversified energy portfolio and strategic initiatives. The company highlighted its effective hedging strategy and asset optimization in Alberta, which contributed to achieving prices above spot market levels. Additionally, TransAlta made significant progress in its Alberta data center strategy and is advancing negotiations for conversion opportunities at Centralia. Key financial metrics for the quarter included an adjusted EBITDA of $349 million, up from $316 million in the same period last year, and a consistent free cash flow of $177 million. The company also reported a net loss attributable to common shareholders of $112 million, contrasting with net earnings of $56 million in the previous year. Operational availability improved to 91.6%, and cash flow from operating activities increased to $157 million. Strategically, TransAlta extended its credit facilities, recontracted Ontario wind facilities, and announced a normal course issuer bid to repurchase common shares. The company also signed an agreement for the divestiture of its Poplar Hill asset, aligning with regulatory requirements and its acquisition strategy. Looking ahead, TransAlta remains focused on achieving its 2025 outlook and advancing its strategic priorities. The company is optimistic about securing data center agreements and finalizing conversion opportunities at Centralia, while continuing to navigate the challenging Alberta price environment with confidence in its asset performance.


Globe and Mail
an hour ago
- Globe and Mail
3 Energy Stocks to Buy With $500 and Hold Forever
Key Points ExxonMobil combines low-cost oil production with growing investments in carbon capture, lithium, and clean tech. Enbridge offers a 6% dividend yield, a 30-year dividend streak, and new projects like a solar deal with Meta Platforms. NextEra has a high valuation, but its cash flow and growth make it a durable energy stock. 10 stocks we like better than ExxonMobil › Old-school energy sources aren't going anywhere. Even as the world transitions to cleaner power, oil and gas (and the infrastructure behind them) remain integral to the global economy. Add in rising electricity demand from AI and data centers, and you have a sector where both old-school titans and new-age renewables can thrive. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » If you have $500 and want to build a long-term, diversified position in energy, the goal is pretty simple: Find companies with strong balance sheets, steady dividends, and exposure to both sides of the energy transition. The following three energy stocks fit that bill precisely. 1. ExxonMobil: old-school energy with new ambitions ExxonMobil(NYSE: XOM) is a titan of traditional energy. With operations spanning oil fields, gas stations, and refineries, the oil stock is built to weather just about any price cycle. It's a fossil fuel giant, but Exxon isn't acting like a dinosaur. In December 2024, the company unveiled a bold 2030 plan to generate $20 billion in new earnings and $30 billion in added cash flow, all while deploying $140 billion to major projects and boosting shareholder returns. About $30 billion of that is earmarked for carbon capture, hydrogen, and lithium developments. That's not a plan to pivot away from oil per se, but it is one to stay relevant no matter where energy goes next. More to the present, Exxon has a fortress of a balance sheet, with $18.5 billion in cash at the end of the first quarter and an industry-leading debt-to-capital ratio of about 12%. As the chart below shows, both of these put Exxon in a favorable position in respect to its biggest competitor, Chevron. And perhaps most important of all, Exxon pays investors to wait. The company has raised its dividend for 42 consecutive years, with a current yield near 3.5% and plenty of free cash flow to support future increases. Add in that strong balance sheet, ongoing share buybacks, and one of the lowest break-even oil prices in the industry, and you have a cash machine with staying power. 2. Enbridge: a dividend pipeline that's going solar Enbridge(NYSE: ENB) is Canada's energy highway. It transports about 30% of North America's crude oil and 20% of the U.S. natural gas supply. Fun fact: Its oil pipeline network stretches more than 18,000 miles, long enough to wrap around three-quarters of the Equator. With a dividend north of 6% and three decades of consecutive hikes, Enbridge has become a go-to for income investors. What really sets it apart, however, is how it is building a dual engine for growth. The company is investing billions annually not just into pipeline expansions, but also offshore, wind, solar, and renewable natural gas. The strategy is already in motion. Enbridge recently broke ground on Clear Fork, a 600-megawatt solar project near San Antonio, Texas, backed by a long-term power purchase agreement with Meta Platforms. The $900 million facility is expected to come on line in 2027 and start adding cash flow and earnings right away. It's a clear sign that the company isn't just moving energy anymore but helping to build infrastructure that will power tech giants and data centers. 3. NextEra Energy: the clean energy leader NextEra Energy(NYSE: NEE), the lone renewables stock on this list, brings something the other two can't: long-term growth without the fossil fuel baggage. It's the world's largest producer of wind and solar power, and it runs Florida Power & Light, the biggest regulated utility in the country. In the second quarter, NextEra added 3.2 gigawatts of new clean-energy projects, lifting its total backlog to 30 gigawatts, roughly the size of 30 nuclear reactors. That pipeline gives the company visibility into future earnings, which it expects to grow 6% to 8% annually through 2027. It's also targeting 10% dividend growth through at least 2026, building on 29 straight years of increases . Today's 3% yield may not scream high income, but it's backed by strong free cash flow and one of the safest payout ratios in the industry. One caveat is that the company trades at a premium: about 20 times forward earnings. But with projected earnings per share (EPS) of $3.45 to $3.70 this year and unmatched leadership in the renewables race, that premium isn't empty air. For investors looking to own a piece of the clean energy sector, NextEra Energy seems about as "forever" as it gets. Powering your portfolio for the long haul With Exxon's oil empire, Enbridge's pipelines, and NextEra's clean energy runway, investors have options that span the full energy spectrum. Each company brings something different to the table, but all three are built to endure. Whether you're looking for dividends or stability, these three offer a balanced way to invest in the future of energy. Should you invest $1,000 in ExxonMobil right now? Before you buy stock in ExxonMobil, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and ExxonMobil wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $624,823!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,064,820!* Now, it's worth noting Stock Advisor's total average return is 1,019% — a market-crushing outperformance compared to 178% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Steven Porrello has positions in Meta Platforms. The Motley Fool has positions in and recommends Chevron, Enbridge, Meta Platforms, and NextEra Energy. The Motley Fool has a disclosure policy.


Globe and Mail
an hour ago
- Globe and Mail
Riot Platforms, Inc. Faces Critical Risk in AI/HPC Sector Due to Dependency on External Partners
Riot Platforms, Inc. (RIOT) has disclosed a new risk, in the Sales & Marketing category. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Riot Platforms, Inc. faces a significant risk in its AI/HPC sector endeavors due to its reliance on third-party consultants, vendors, and potential customers. The company's success hinges on its ability to attract and retain long-term, creditworthy partners and customers to support the development and commercialization of its infrastructure. Failure to secure these relationships or if these external parties do not perform as expected, could result in the investment not delivering the anticipated returns. This dependency on external entities presents a critical risk factor that could impact Riot Platforms, Inc.'s financial outcomes. The average RIOT stock price target is $18.36, implying 66.46% upside potential. To learn more about Riot Platforms, Inc.'s risk factors, click here.