Ex-Foreign Affairs minister calls Trump's tariffs ‘uncharted waters' for trade deal talks
Peter MacKay on shifting Canada-U.S. trade talks, what's needed for a deal by Aug. 1, and how tensions affect ties with the U.S. and Mexico.
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CTV News
28 minutes ago
- CTV News
U.S. senators aim to arm Trump with ‘sledgehammer' sanctions against Russia
U.S. senators on Sunday touted a bipartisan bill that would arm President Donald Trump with 'sledgehammer' sanctions to use against Russia, ahead of a visit by the U.S. special envoy to Ukraine. Trump has indicated he would be open to the sanctions bill as relations with Russian counterpart Vladimir Putin grow increasingly frosty. U.S. special envoy Keith Kellogg is due to begin his latest visit to Ukraine while Trump said he would make a 'major statement... on Russia' on Monday. Republican Senator Lindsey Graham said he had majority backing in the Senate for his bill, which was gaining momentum as Washington-led peace efforts in Ukraine have struggled to make headway. The bill would allow Trump 'to go after Putin's economy, and all those countries who prop up the Putin war machine,' Graham told broadcaster CBS news. Trump, who has repeatedly said he is 'disappointed' with Putin as Moscow unleashed deadly barrages of missiles against Kyiv, has hinted he might finally be ready to toughen sanctions. Trump held off for the past six months while he tried to persuade Putin to end the war. But the Republican president's patience appears to be wearing thin, telling reporters during a cabinet meeting at the White House Tuesday that Putin was talking 'a lot of bullshit' on Ukraine. Last week, Trump also agreed to send Zelensky more weapons, including through a deal with NATO which would involve the alliance purchasing U.S. weapons to send to Ukraine. On Thursday, Trump appeared to back the bill without detailing whether he would use it to slap sanctions on Moscow. 'They're going to pass a very major and very biting sanctions bill, but it's up to the president as to whether or not he wants to exercise it,' Trump told broadcaster NBC. Asked during a cabinet meeting about his interest in the bill, Trump said: 'I'm looking at it very strongly.' 'This congressional package that we're looking at would give President Trump the ability to impose 500% tariffs on any country that helps Russia,' said Graham, adding that those could include economies that purchase Russian goods like China, India or Brazil. 'This is truly a sledgehammer available to President Trump to end this war,' said Graham. 'Without a doubt, this is exactly the kind of leverage that can bring peace closer and make sure diplomacy is not empty,' the Ukrainian leader said about the proposed bill in an X post. Graham and Democratic Senator Richard Blumenthal were to meet NATO Secretary General Mark Rutte on Monday night. Blumenthal told CBS news they would also discuss the legally thorny issue of unlocking frozen Russian assets in Europe and the United States for access by Ukraine. 'The $5 billion that the United States has also could be accessed, and I think it's time to do it,' said Blumenthal.
Globe and Mail
an hour ago
- Globe and Mail
Walsh Pure Supply & Demand
The July WASDE report was released this morning from the USDA. December corn made a high at 418 after the numbers came out, but faded the rest of the day, closing at 412 1/4. December corn has support at 409, 400, and 393; resistance is at 416 and 420. New Crop New crop ending stocks were 1.66 billion bushels (bb), less than the trade expectation at 1.722 bb. The stocks/use ratio is now 10.8%, a reduction of half a percent from last month's report. Old Crop Old crop ending stocks were reduced to 1.34 bb, compared to the trade estimate at 1.352 bb and the June estimate at 1.365 bb. As mentioned in my article on Wednesday, exports were raised by 100 million bushels (mb). Feed and residual use was cut 75 mb based on indicated disappearance in the June 30 th Grain Stocks report. Old crop stocks/use is 8.75%. Global Global new crop ending stocks were also reported less than expected at 272.1 million metric tons (mmt), which is 3.1 mmt less than June. The trade estimate for global ending stocks prior to the report was 276.8 mmt. Old crop ending stocks saw a slight reduction from June at 285 mmt to 284.2 mmt. The dollar is starting to inch higher again, but it is still nowhere close to where it was at the start of the year. The weaker dollar gives the U.S. a price advantage versus Brazil, which should continue to help exports. With the large number of shorts, trade deals could get corn moving higher again quickly as seen with the rumors of a Chinese purchase announcement ahead of the Independence Day weekend. If you like this article and would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now Please consider the following trade idea: Sell 2 puts for a 10 1/2 cent credit or collect $525/Trade Package and pay 12 1/2 cents or $625 for the $4.25 call. This trade costs you nothing to put on, you actually get a $525 credit/Trade Package to put on the trade. If Dec corn hits $3.84 or lower buy back the entire spread, capping downside at $1,075 per spread. The low for the year on the continuous contract is $3.85. Profit = 45 1/2 cents or $2,275/Trade Package with corn at $4.60 at expiration, Profit = 85 1/2 cents or $4,275/Trade Package with corn at $5.00 at expiration, Profit = 135 1/2 cents or $6,775/Trade Package with corn at $5.50 at expiration ALL PRICES ARE FRIDAY'S SETTLEMENT – DEC '25 CORN CLOSED @ 412 1/4 If you like this article and would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now If you're ready to start trading, click the link below to open an account with Walsh Trading, Inc. Open An Account Hans Schmit, Walsh Trading Direct 312-765-7311 Toll Free 800-993-5449 hschmit@ Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member. Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. ('WTI') shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.
CBC
2 hours ago
- CBC
Transportation minister says Alberta is 'actively reviewing' bike lanes
Alberta's provincial government is "actively reviewing" bike lanes that draw the ire of local residents. Devin Dreeshen, provincial minister of transportation and economic corridors, said the province is reviewing bike lanes that draw concern from residents. He said the reasoning behind the move is to continue Alberta's work to build a "safe, efficient road network." "Alberta's government supports active transportation, but we're concerned when municipalities use taxpayer dollars to reduce road capacity at a time when our province is investing billions to expand it," said Dreeshen via an emailed statement. "While we fund major infrastructure projects, like the Deerfoot, to improve traffic flow and reduce congestion, some local decisions are moving in the opposite direction removing driving lanes." When asked, earlier this week, whether the province is planning to review both active and future bike lane projects, and if any current bike lanes are already under review, Dreeshen's office did not reply. The minister's statement follows a June 27 letter he addressed to Calgary Mayor Jyoti Gondek where Dreeshen said he was concerned about bike lanes being built at the expense of road capacity, and with how this work affects provincial road capacity. Gondek's response in a July 3 letter invited Dreeshen to a meeting on how to best support Calgary's transportation needs. Bike lanes at the expense of vehicle capacity? Alberta minister pens letter with concerns 9 days ago Duration 1:47 Alberta's transportation minister sent a letter late in June to ask for a meeting with Calgary Mayor Jyoti Gondek to talk about cycling infrastructure. Bike Calgary, a local cycling advocacy group, hopes Alberta won't follow suit with Ontario, where the Doug Ford government has given itself powers to remove existing bike lanes and require approvals for new projects. Calgary currently has roughly 290 kilometres of on-street bikeways and cycle tracks. City council approved $56 million for Calgary's network of pathways and bikeways in 2023, and its long-term transportation plan looks to expand the network more throughout the next 60 years, including several ongoing projects to build further bikeway connections around the city. In April, Dreeshen also voiced opposition to Edmonton's planned bike-lane expansions. He said the province supports bike lanes "when they make sense," but won't support "tax dollars being used to reduce road capacity." In the past, Calgary residents have raised concerns about some of the city's bike lane projects, arguing they add more traffic congestion. Provincial review lacks clarity, says city councillor The purpose and process behind a provincial review of bike lanes is unclear, said Ward 8 Coun. Courtney Walcott in an interview with CBC News. The infrastructure isn't under provincial jurisdiction, and within Calgary's central neighbourhoods, the lanes are far removed from the provincial road network. "The provincial networks are highways. We're not talking about the Beltline. [From] the Beltline, it takes three different roads to get to a provincial road essentially, in many cases. And none of them will have cycling tracks on them," Walcott said. When it comes to congestion, Walcott argued research has shown more lanes of traffic doesn't effectively tackle this problem. But alternative modes of transportation like bike lanes and public transit can ease congestion. Regardless, when Walcott hears complaints from his constituents about bike lanes, typically it has more to do with parking than road capacity. For example, the pathways on 11th Street and 15th Avenue S.W. have drawn complaints for removing parking spaces or interfering with loading zones. In some cases, Walcott said the city can respond to improve accessibility for all of a pathway's users. But he added that less on-street parking is sometimes a tradeoff the city makes to make space for cyclists, buses or pedestrians. "That's what it means to share the road a little bit differently," said Walcott. "These issues seem very beneath the minister." Walcott added he was frustrated to have conversations around the value of bike lanes, after the recent death of a cyclist. Calgary police said a man using an electric bike in a designated bike lane on 26th Avenue S.W. in Killarney died after colliding with a dump truck. Walcott noted the collision occurred in an unprotected, painted bike lane that's slated for construction to become a lane separated and protected from cars. "The reality is [bike lanes are] good for the city, it's good for the health of the individuals using them, it's good for reducing traffic on the road, it's good for the environment, and it's really cost-effective," Walcott said. Politicized debate Francisco Alaniz Uribe, an associate professor at the University of Calgary's school of architecture, planning and landscape, said the political nature of urban planning debates has been seen more often in Canada lately, noting a similar ongoing issue in Ontario. The Ontario government passed a bill last year that allows it to remove major bike lanes in Toronto, despite the city's objections. Under the bill, cities also must now seek provincial approval to install new bike lanes that cut into vehicle traffic. A temporary injunction in April halted Ontario's plans to remove three Toronto bike lanes until a judge rules on a Charter challenge by cycling advocates. On Wednesday, an Ontario court dismissed the province's attempt to appeal the court order. Alaniz Uribe said Calgary's approach to creating a cycling network has involved extensive consultation, but that urban planning debates are always highly political because they involve discussing how we use shared spaces in our cities. Cars have dominated streets for decades, Alaniz Uribe said, adding that urban planning now often involves carving out space for cyclists, wider sidewalks, public transit or more trees, which usually faces pushback. "We're trying to change a value set where for a long time our value set has been the private automobile. And now, we're trying to get some of that space back for something that is not the automobile," Alaniz Uribe said.
