TSX futures muted with trade updates, corporate news in focus
Futures on the S&P/TSX index .SXFcv1 were unchanged at 1,615.80 points by 06:15 a.m. ET (1015 GMT).
Prime Minister Mark Carney said on Wednesday that steel tariff quotas will be introduced for countries with which Canada has free trade agreements, excluding the U.S., in a bid to protect the domestic steel industry.
The move follows U.S. President Donald Trump increasing import duties on steel and aluminum to 50% from 25% earlier this month. But existing arrangements with the United States-Mexico-Canada Agreement will be upheld.
Investors are monitoring tariff updates with the August 1 deadline quickly approaching. Japan held talks with U.S. Commerce Secretary Howard Lutnick on Thursday and Europe Union's trade chief headed to Washington on Wednesday.
In corporate news, Circle K-operator Alimentation Couche-Tard (ATD.TO), opens new tab pulled its $46 billion bid to buy 7-Eleven's parent company Seven & i Holdings (3382.T), opens new tab, saying the Japanese retailer did not engage constructively on the deal that would have created a global convenience store giant.
Gold prices edged down on a firmer U.S. dollar while copper prices slid with tariffs in focus. Oil prices , inched up.
TSX ended higher on Wednesday, boosted by technology and financial shares with investors shrugging off increased uncertainty about the Federal Reserve's leadership.
U.S. economic data expected later in the day, including weekly jobless figures and June retail sales, will be scrutinized for insight on how the economy is holding up under a shifting tariff and trade policy.
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Donald Trump is set to travel to his Aberdeenshire golf course today, accompanied by Keir Starmer. The US President, who spent the weekend at his Turnberry resort in Ayrshire, is believed to be flying to RAF Lossiemouth at around 4.20pm. He is then expected to travel to Trump International Scotland, his golf resort on Menie Estate in Balmedie. Trump will be accompanied by the Prime Minister, who will meet him to discuss a ceasefire in Gaza and an end to the war in Ukraine at Turnberry today. The pair will then travel together to the Aberdeenshire resort for a 'private engagement'. Trump's arrival in Aberdeenshire is set to be met with protests, including a 'festival of resistance' near the Menie course this afternoon. Tomorrow, Trump will open Menie's second course, which is set to be named after his mother Mary Anne MacLeod, who was from Lewis. A huge police and security operation is underway, with hundreds of officers drafted in from across the country and airspace restrictions in place. There are also road closures around Balmedie and RAF Lossiemouth. Follow The Press and Journal as we bring you updates on President Donald Trump's visit to Aberdeenshire. The whisky industry, with a high concentration of jobs close to Trump's Aberdeenshire course, hopes to have its concerns heard today. Mr Trump drew global outrage when he slapped big trade tariffs including 10% on the UK. Mark Kent, Scotch Whisky Association chief executive, tells the P&J the industry is volatile. 'President Trump's visit to Scotland is a critical moment to start to turn that around,' he says. 'The President's ties to our country are well-publicised: his mother was Scottish, his businesses invest across Scotland, he cares deeply about Scotland. So, the next couple of days are a great opportunity to strike a deal which works for Scotland.' 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The prime minister has been under pressure to change course on policies for the crucial energy industry, including cutting a windfall tax on profits. And industry figures have been quick to seize on Mr Trump's vocal support for oil. Writing in the P&J today, Russell Borthwick, chief executive of Aberdeen and Grampian Chamber of Commerce, made a direct plea. 'When the pair get together to talk trade this afternoon, I am among those who hope the leader of the free world can talk some sense into his British counterpart.' You can read the full opinion piece here. The President started his day with a round of golf with his son Eric at his Turnberry course in Ayrshire. Wearing a white baseball cap branded 'USA', Mr Trump waved at journalists who shouted questions at him as he teed off. There were onlookers with placards with messages such as 'Don't trust Starmer', making their support for the President known. Later, he met with the President of the European Commission Ursula von der Leyen to discuss a trade deal between the US and the EU. Reporters were under the impression that Trump was in a good mood heading into the meeting, and thus asked him as such. He replied: 'I'm actually not in a good mood, but I will tell you I think the chances are, yeah, I think Ursula would say, probably 50-50, of making a deal. 'I'd like to make a deal, I think it's good for both, but yeah, I'd say 50-50.' Asked why he was in a bad mood and whether it was related to his day playing golf, Mr Trump said: 'No, the golf was beautiful. Golf can never be bad… But no, I think I look forward to this meeting. 'You know, we've had a hard time with trade with Europe, very hard time, and I'd like to see it resolved. 'But if it isn't we'll, you know, have tariffs.' A deal was brokered during the meeting between the two. The US president shook hands on the deal with von der Leyen, saying: 'It's going to bring us closer together… it's a partnership in a sense.' Von der Leyen described the deal as 'huge', but it only came about after 'tough negotiations'. Trump is expected to meet with UK Prime Minister Keir Starmer at Turnberry tomorrow, before the pair head to Trump International tomorrow. Follow along with our live blog to get the latest updates. Debra Storr was arrested at a chalk protest at Trump International Golf Links on Friday. The former councillor for Ellon and District Ward, Ms Storr, has long opposed Trump, voting against initial plans for the course in 2007. Messages criticising the President could be seen on the road near the Menie Estate. Ms Storry described the act of as 'peaceful and non-destructive'. Read the full story here. A 'festival of resistance' is set to be held near Donald Trump's Aberdeenshire golf course ahead of meetings with political leaders on Monday. The protest at The White Horse Inn, Balmedie, Aberdeen, is close to the Trump International Scotland golf resort and organisers said they object to it receiving £180,000 of public funding for the Nexo Championship next month. Organiser of Stop Trump Scotland, Alena Ivanova, said: 'As Donald Trump is expected to arrive at his Aberdeenshire golf course, residents and protesters are gathering in Balmedie from 3pm to continue the festival of resistance. 'This message is to Donald Trump but also our elected leaders preparing to meet him: there is no place for Trumpism in Scotland. 'They need to stand up to him instead of kowtowing to this bully – including by handing over hundreds of thousands of pounds of taxpayer money for a golf tournament hosted at Trump International even while he attempts to bully us with tariffs. 'In the vicinity of the golf course people will be making noise and using creative props to bring the message as close to home as possible – Donald Trump is not welcome here.' The Scottish Government allocated £180,000 to help bring a tour to Trump's Aberdeenshire golf course, and it hasn't pleased everyone. The government says the public money will 'further raise the profile' of the area when the 2025 Nexo Championship is held at the US President's resort in August. It's understood the Scottish Government hopes the cash, through VisitScotland, will help bring the tournament back in future years. Officials say golf tourism is worth about £300 million a year and supports 5,000 jobs in Scotland. First Minister John Swinney said: 'As the home of golf, we have a long-standing track record of support and I am proud this funding will further enhance Aberdeenshire's reputation as a leading golfing destination and I am hopeful of securing further golfing events in future years.' Green party leader Patrick Harvie doesn't agree. He said: 'This shames Scotland. It's an embarrassing attempt to please a bully and shows the same craven attitude as Keir Starmer.' Hundreds gathered yesterday in Aberdeen to protest against Trump's visit. The demonstration at Union Terrace was one of two protests held in Scotland yesterday, with a similar event taking place in Edinburgh. Both events were organised by the Stop Trump Coalition and Police Scotland have confirmed that both protests were peaceful and without any incidents. While two arrests were made at 'other events' in Aberdeen on Saturday, Police Scotland have confirmed that no arrests were made at either of the protests. Balmedie residents are experiencing heavy police presence and road closures ahead of Donald Trump's planned visit to open a new golf course at Menie tomorrow. Parts of the North Beach Road have been closed off, as well as most of the B977 leading to Mr Trump's Menie golf course. Locals have reported confusion over signage, altered and delayed bus services and disruption to their daily walking and driving routes as a result of the road closures. Some residents have claimed they received no notice of the closures, while local businesses have voiced their concerns over the impact of the disruption. A Police Scotland spokesperson said they are working to keep the disruption to a minimum and are 'thankful to communities for their patience and understanding.' There has been a lots of activity in the skies above Trump's Menie Estate over the last few days. Helicopters, which appear to be military aircraft, have been spotted flying over Aberdeenshire ahead of the US President's visit on Monday. One witness reported that there were six aircraft above the estate on Friday afternoon. The helicopters appeared to be circling and performing manoeuvres throughout the afternoon, before later landing at Aberdeen Airport. It is believed that the group of aircraft included four US Army Chinooks and two US Marine Sikorsky VH-3D Sea Kings. Hundreds of protestors gathered at Aberdeen's Union Terrace today to voice their disapproval over President Trump's UK visit and subsequent Aberdeen stop. The protestors gathered near the statue of William Wallace, where they held up signs and voiced their message clearly: that they will not welcome the President to the UK. When asked why they decided to come out today, one protestor, Mary Nicoll said: 'I think this visit is a total waste of money. 'He conducts himself as a bully, not as a diplomat.' Her daughter Sarah Nicoll said: 'He's a man who is doing immeasurable harm around the world, and I don't think he should be welcomed to Aberdeen. 'I certainly am not giving him a welcome, and clearly no one else here is.' A previously banned protest banner has reappeared at a Stornoway shop in response to Donald Trump's visit to Scotland. The sign, which reads 'Shame on you Donald John,' in reference to the President's two first names, had become a familiar sight to those in Stornoway. It was originally placed outside Lewis Revival in March before being ordered down by the council. The banner was returned to the shop last night and will now be toured around the island by local residents and volunteers in protest of the US President's visit. Shop owner Sarah Venus said: 'Our banner with its many signatures and comments has become a community artifact of protest against Trump. 'We hung it again yesterday in front of the shop in an act of civil disobedience but at 5pm we removed it and it has begun its tour of the island.' Hundreds gathered at Union Terrace in Aberdeen today to protest US President Donald Trump's visit to Scotland. The demonstration, organised by the Stop Trump Coalition drew local residents and activist groups alike. Campaigners described the protest as the beginning of a 'festival of resistance', with the group planning further demonstrations throughout President Trump's visit. Green MSP and Rector of Dundee University Maggie Chapman spoke at the protest. Ms Chapman said: 'I think it's so important that so many people have turned out from Aberdeen and Aberdeenshire to show Trump that he is not welcome here. 'The way he has ran roughshod over our communities, over our natural environment, over our politics of human rights and dignity, those are the things we are standing up against in Aberdeen.' Anti-Trump protestors are set to meet at the William Wallace statue on Union Terrace at 12 noon today. Organised by Stop Trump Coalition, the group have called for First Minister John Swinney not to meet with the President. Speakers are set to include Maggie Chapman Green MSP, Scottish Palestine Solidarity Campaign (SPSC), Disabled People Against Cuts (DPAC) and Granite Gays. Ahead of the protest, Alena Ivanova, a campaigner with the coalition said: 'Donald Trump may shake hands with our leaders, but he's no friend of Scotland. 'Trump is not welcome because he represents all that Scottish people reject. 'We call on everyone to join us and protest Trump, his politics and his ushering of a global far right.' 9am – 26/07/25 Following the President's arrival in Scotland last night, he was escorted to his course at Turnberry, ahead of what is sure to be an interesting weekend. Trump is set to meet with both Prime Minister Keir Starmer, and First Minister John Swinney during his visit. He will then make the journey to his Golf Resort in Balmedie to open up a brand new course, named after his Scottish mother. Today, there will be a protest from the Stop Trump Coalition at Union Terrace Gardens in the Granite City. Stay with our live blog as we bring you all of today's updates. President Trump has officially landed in Scotland ahead of his trip to open his brand new Aberdeenshire golf course. Riding aboard Air Force One, he touched down at Prestwick Airport at 8.30pm on Friday evening. The 79-year-old made the journey on one of his two custom Boeing 747-200B jets. He is now expected to be taken away in his motorcade to his Turnberry golf resort on the Ayrshire coast. President Trump is visiting his Aberdeenshire golf resort – Trump International Scotland – to open a brand-new golf course. The 18-hole links MacLeod Course is named after his mother Mary Anne MacLeod who was born on the Isle of Lewis in 1912. She emigrated to the United States in the 1930s where she married businessman Fred Trump in 1936. Mary Anne MacLeod died in 2000 at the age of 88. A deer had to be euthanised after it has hit by a police vehicle close to Trump International Scotland on Friday morning. New Arc Wildlife Rescue confirmed the news as the animal was 'beyond saving'. Ahead of his flight to Scotland, President Trump told reporters he was going to have 'a good time' with Keir Starmer and John Swinney during his trip. He confirmed he will have dinner with the prime minister at Turnberry before they travel to the 'oil capital of Europe, which is Aberdeen'. He added: 'We're going to have a good time. I think the prime minister and I get along very well.' The US president also told the media he has a 'lot of love' for Scotland. He said: 'The Scottish leader is a good man, so I look forward to meeting him.' The P&J has seen a letter from Offshore Energies UK to the prime minister. It is essentially a direct plea to focus on domestic oil and gas while Sir Keir Starmer prepares to talk business with Donald Trump. The US president told media last week he will meet the prime minister in Aberdeen – a claim which has not been disputed by Downing Street. But the prime minister's office has also not confirmed any details of a north-east visit. Industry figures and political leaders are now working on the assumption he will be there, so failing to come along will risk a serious backlash. Several roads in Lossiemouth will be closed to traffic during the President Trump's visit to the north-east beginning on Monday. According to air traffic documents, Trump will land at RAF Lossiemouth on Monday evening before travelling to his Aberdeenshire golf resort in Balmedie. Moray Council has confirmed several roads will be closed during this time. Roads surrounding the RAF base will be shut to traffic for four hours on Monday – between 1.30pm and 5.30pm. While not confirmed, road closures and air traffic restrictions suggest the US president will land at RAF Lossiemouth on Monday. He is then expected to travel to his Menie Estate, north of Aberdeen. Trump was last in the north-east in 2023 to break ground on his newest golf course. Further restrictions suggest he will leave his Menie Estate on Tuesday, July 29, head back to RAF Lossiemouth before leaving Scotland that afternoon. US President Donald Trump will arrive at Prestwick Airport on Friday night ahead of a four-day 'private' visit to Scotland. Over the coming days, he will visit Trump Turnberry in Ayrshire as well as open a new golf course at Trump International Scotland near Balmedie. Trump has also confirmed he plans to meet with Prime Minister Keir Starmer in Aberdeen during his trip. Good morning and welcome to our live blog, where our reporters will be posting regular updates about US President Donald Trump's visit to Aberdeenshire. Make sure to hit the refresh button on your browser to see new posts.
