CPKC Profit, Revenue Rise on More Shipments
The Calgary, Alberta-based railroad operator on Wednesday posted a profit of 1.23 billion Canadian dollars, or the equivalent of $893.1 million, compared with C$903 million in the same quarter a year earlier. On a per-share, CPKC's profit came in at C$1.33, compared with C$0.97 a year earlier.
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The 35% tariff kicked in today on Canadian goods. How big of an impact will it have?
With the signing of an executive order, U.S. President Donald Trump upped Canada's tariff rate to 35 per cent, effective at 12:01 a.m. today. That's a 10 per cent increase on the 25 per cent rate that has been in effect on Canadian goods headed south of the border since March, and is a blanket tariff that will apply to Canadian products across the board. However, that doesn't paint the whole picture. A very small number of Canadian products will be subjected to the 35 per cent tariff. That's because the tariffs don't apply to all goods that are subject to the Canada-U.S.-Mexico Agreement (CUSMA), the existing free trade deal governing trade between the three countries. Those products can keep going across the border free of tariffs. Most of the goods Canada exports to the U.S. are covered by CUSMA. The Bank of Canada said in its monetary policy report released Wednesday that an estimated 95 per cent of stuff sent south of the border qualifies under that agreement. That means the new, higher 35 per cent rate will be felt by a small fraction of exports that are not CUSMA-compliant, which likely includes a broad array of products across all sectors, according to experts. "[CUSMA] is the one thing that is ensuring normalcy in trade flows in much of the economy," said Eric Miller, president and CEO of Rideau Potomac Strategy Group. "And so the maintenance of that exemption was absolutely crucial." WATCH | Trump increases tariff on Canada to 35%, White House says: There's no simple list of items that are CUSMA-compliant, because products are certified on a case-by-case basis, based on a number of complicated factors. In order to get the exemption, a certain amount of the product needs to be made in Canada, with Canadian inputs. Take the example of a steak versus that of a screwdriver. If a cow is born, raised, slaughtered and prepared in Alberta, then the steak — the end product — is clearly Canadian and would be shielded under CUSMA, says Miller. But a typical screwdriver is made of metal, along with plastic or rubber for the handle. The manufacturer would have to make sure that enough of the materials come from Canada, Mexico or the U.S. That amount is usually about 60 per cent, according to lawyer Daniel Kiselbach, a managing partner at Miller Thompson LLP. WATCH | What we know — and what's still unclear — after tariffs hiked on Canadian goods: Then, you have to make sure you're adding value to those parts and converting them to a finished product before shipping it out. In the case of the screwdriver, you're taking the raw materials and making them into a new, finished item, so that would meet the bar. Overall, anything harvested or mined is usually CUSMA-compliant, Kiselbach said. Anything manufactured or produced in Canada gets more complicated. Electronics and machinery, in particular, are product types that tend to have a harder time getting CUSMA certification. On top of that, the certification process can be challenging, requiring records showing where all a product's components come from, and it is costly. "[Businesses] don't necessarily understand what the rules are telling them," Miller said. "It's almost like cryptography or something." For that reason, Miller says some businesses have simply not acquired CUSMA certification in the past — something that's changing now that the rates are so much higher. WATCH | Is Canada-U.S. free trade dead?: While the fraction of companies that don't qualify for the free trade exemption might be small, Miller says the impact of the new rate should not be overlooked. Many of those who will be hit by the Saturday tariff increase will be small- to medium-sized businesses that rely on components that are made in countries outside of Canada — and can't easily replace them with materials sourced elsewhere. "If you are used to sourcing a particular input from China for the last 10 years, it's not so easy to go and say, 'Now I'm going to buy that good somewhere else,'" Miller said. "They can't easily change and they can't meet the rules, so they have to pay 35 per cent. And for them, going from 25 per cent to 35 per cent is pretty devastating," Miller. Kiselbach says 35 per cent tariffs might be higher than some companies' profit margins, meaning they'd be losing money on each item they sell at the current rate. Sectoral tariffs still in play The 35 per cent rate also has no bearing on the rates Trump has set for specific sectors. Those include a 50 per cent tariff on steel and aluminum, as well as 25 per cent on cars and auto parts, both of which had already been in effect. A new, 50 per cent tariff on some copper products, including copper pipes and wiring, also went into effect today. 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Silicon Metals Corp. Announces Receipt of 5-Year Exploration Permits for the Ptarmigan Silica Project in British Columbia
Vancouver, British Columbia--(Newsfile Corp. - August 1, 2025) - SILICON METALS CORP. (CSE:SI) (FSE: X6U) ("Silicon Metals" or the "Company") is pleased to announce that it has received a five-year Mines Act Permit and Free Use Permit from the B.C. Ministry of Mining and Critical Minerals, authorizing the Company to conduct its proposed exploration activities at its 100%-owned Ptarmigan Silica Project, located approximately 130 kilometres northeast of Prince George, British Columbia. The permits, which are effective from July 31, 2025, to December 30, 2030, provide Silicon Metals with the necessary approvals to carry out a wide range of exploration activities, including surface drilling, trenching, bulk sampling of up to 2,000 tonnes, and construction of exploration access trails and infrastructure. These permits mark a major milestone for the Company as it aims to unlock the high-purity silica potential of the Ptarmigan Silica Project. Morgan Good, CEO of Silicon Metals, commented: "Silicon Metals is overly thrilled to receive these permits that allow so many different work programs at Ptarmigan, especially so expeditiously. We have now considerably de-risked this asset which, along with our recent Permitted Maple Birch Permit acquisition, truly positions Silicon Metals at an advantageous point in its timeline, setting 2026 up to be quite an exciting and hopefully fruitful year for both shareholders and the Company." About Silicon Metals Corp. Silicon Metals Corp. is currently focused on exploration and development in Canada, namely British Columbia and Ontario. The Company's Maple Birch Project, located approximately 30km south-east of Sudbury, Ontario, is a high purity quartz pegmatite project with a 3000 tonne per year production permit. The Company also holds an undivided 100% right, title, and interest in the exploration stage and now fully 5-year permitted Ptarmigan Silica Project, located approximately 130km from Prince George, British Columbia. The Company has also acquired an undivided 100% right, title, and interest in both the exploration stage Silica Ridge Silica Project located approximately 70kms southeast from the town of MacKenzie, British Columbia, as well as the exploration stage Longworth Silica Project located approximately 85km East from Prince George, British Columbia. ON BEHALF OF THE BOARD OF DIRECTORS OF SILICON METALS CORP. "Morgan Good" Morgan GoodChief Executive Officer and Director For more information regarding this news release and further details about Silicon's plans, please contact: Morgan Good, CEO and Director T: 604-715-4751E: morgan@ W: Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release). Cautionary Note Regarding Forward-Looking Statements This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements relating to: the Company's future exploration plans with respect to the Ptarmigan Silica Project and that 2026 will be an exciting and fruitful year for both shareholders and the Company. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. In making the forward-looking statements in this news release, the Company has applied certain material assumptions, including without limitation, that the Company's future exploration plans with respect to the Ptarmigan Silica Project will remain unchanged; that the Company's 5-year Mines Act permit and Free Use permit will not be cancelled early; and that the Company's operations and ability to complete its exploration plans will not be adversely impacted by global events and changes in the global economy. These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the Company may not be able to carry out its future exploration plans with respect to the Ptarmigan Silica Project, unanticipated costs, adverse changes in legislation or global events impacting the Company's exploration plans, and that the Company's 5-year Mines Act permit and Free Use permit could be cancelled early. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor. To view the source version of this press release, please visit 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
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Sask. premier calls for Canada to reduce or remove counter-tariffs
Saskatchewan Premier Scott Moe continued his stance Friday that Canada should not resort to retaliatory measures in its trade war with the U.S. On Friday, an executive order by U.S. President Donald Trump came into effect that increases tariffs on Canadian goods to 35 per cent, up from 25 per cent. "I'd say our first step as Canadians is to move towards reducing and even removing some of the counter-tariffs that we have in place," Moe said at a press conference in Saskatoon. Goods covered by the current Canada-U.S.-Mexico Agreement (CUSMA) are exempt and Moe said that accounts for 95 per cent of Saskatchewan's exports to the U.S. He credited Dominic LeBlanc, the minister responsible for Canada-U.S. trade, for his work in Washington for helping those exemptions remain in place. The premier said other global, broad-based sectorial tariffs are improving the environment for goods covered by CUSMA and that Canada should consider the type of trade environment it wants to foster. "That is a low-tariff or no-tariff trade environment," said Moe. "Our very argument and what is factually happening today is that President Trump's tariffs are causing harm to American families and causing harm to American businesses," Moe said. Any counter-tariff Prime Minister Mark Carney or anyone puts on American goods would do similar harm and "would then cost us more and do harm to the competitiveness of the Canadian economy," Moe said. Opposition says it's time to 'show a backbone' The Opposition NDP took a different stance. "Let's stop acting like we don't have leverage here," said Leader Carla Beck. "Let's show a backbone." The NDP are calling for Saskatchewan to remove American liquor from shelves — as some other provinces have — and make good on an earlier pledge from the provincial government to stop accepting contracts with U.S. companies. "It shows that we are not going to take this lying down," said Beck. Speaking Friday, Beck homed in on Saskatchewan industries not covered by CUSMA, such as the steel industry, which exports about $400 million of product to the U.S. annually. "We need to protect those jobs as well," said Beck. She said the premier is downplaying the tariffs' effects by highlighting they only affect a limited percentage of Saskatchewan's economy. "It might seem like a small number to the premier, but that potentially impacts 100 per cent" of someone's job, said Beck. In a statement, the provincial government said, "Saskatchewan continues to experience strong economic growth, the strongest rate of job creation and the lowest unemployment rate in Canada." Beck said that Saskatchewan shouldn't be a weak spot in trade negotiations and the province needs to "get on side with the rest of the country." Beck said counter-tariffs aren't the only leverage the province has, highlighting that American companies want Saskatchewan's potash and uranium. She said discussions at the recent Midwestern Legislative Conference showed the great desire for those products and that legislators in the U.S. can "continue to take those messages to Donald Trump."
