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Trump's tariff threats against Canada face legal hurdles ahead of August deadline

Trump's tariff threats against Canada face legal hurdles ahead of August deadline

National Post4 hours ago
Donald Trump's plan to realign global trade faces its latest legal barrier this week in a federal appeals court — and Canada is bracing for the U.S. president to follow through on his threat to impose higher tariffs.
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While Trump set an Aug. 1 deadline for countries to make trade deals with the United States, the president's ultimatum has so far resulted in only a handful of frameworks for trade agreements.
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Deals have been announced for Japan, Vietnam, Indonesia, the Philippines and the United Kingdom — but Trump indicated last week that an agreement with Canada is far from complete.
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Trump sent a letter to Prime Minister Mark Carney threatening to impose 35 per cent tariffs if Canada doesn't make a trade deal by the deadline. The White House has said those duties would not apply to goods compliant with the Canada-U.S.-Mexico Agreement on trade.
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Countries around the world will also be watching as Trump's use of a national security statute to hit nations with tariffs faces scrutiny in the United States Court of Appeals for the Federal Circuit.
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The U.S. Court of International Trade ruled in May that Trump does not have the authority to wield tariffs on nearly every country through the use of the International Economic Emergency Powers Act of 1977.
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The act, usually referred to by the acronym IEEPA, gives the U.S. president authority to control economic transactions after declaring an emergency. No previous president had ever used it for tariffs and the U.S. Constitution gives power over taxes and tariffs to Congress.
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The Trump administration quickly appealed the lower court's ruling on the so-called 'Liberation Day' and fentanyl-related tariffs and arguments are set to be heard in the appeal court on Thursday.
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George Mason University law professor Ilya Somin called Trump's tariff actions a 'massive power grab.' Somin, along with the Liberty Justice Center, is representing the American small businesses.
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EDITORIAL: Carney's guide for civil service cuts
EDITORIAL: Carney's guide for civil service cuts

Toronto Sun

time11 minutes ago

  • Toronto Sun

EDITORIAL: Carney's guide for civil service cuts

Prime Minister Mark Carney waits to speak during a tour of a steel manufacturing facility, in Hamilton, Ont., Wednesday, July 16, 2025. Photo by Chris Young / The Canadian Press The federal government has moved to block civil servants from streaming services such as Netflix, Crave and Amazon Prime on its networks. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account According to documents obtained by University of Ottawa Assistant Professor Matt Malone and published by CBC, this was not done so much because the streaming put a strain on government networks, but that it was perceived to be a 'people management' issue. Scott Jones, president of Shared Services Canada (SSC), the agency responsible for IT, wrote to the Treasury Board about a meeting of deputy ministers, during which they discussed the use of streaming services in federal buildings. He supported blocking them. 'While streaming may ultimately impact the bandwidth available to the (Government of Canada), it is also more importantly a people management issue,' he wrote. 'In the current context and with public perception of the public service as it is … there is value in engaging (deputy ministers) on these issues and in committing SSC to take some action.' This advertisement has not loaded yet, but your article continues below. The departments with the highest streaming included the Department of National Defence (DND), Public Services and Procurement Canada and the Privy Council Office. This coincides with a Canadian Press story from February, which reported that large numbers of civil servants aren't following the rules when it comes to the government's hybrid work-from-home model that requires government employees to be in the office three days a week. The DND, which employs about 28,700 people, had the lowest compliance rate. In January, it was 60%, but just 31% in December. The Public Service Alliance of Canada (PSAC), the union representing about 240,000 federal employees, said it had no record of any employee being dismissed or disciplined for not adhering to the hybrid rules. Prime Minister Mark Carney has told government agencies and departments they must slash 15% from their budgets over the next five years. These two reports provide a road map for where to cut. Those ministries and agencies where employees (a) can't be bothered to show up for work on the days they're required, or (b) are streaming Netflix, should be the first on the chopping block. As a show of good faith, Carney should end the hybrid model for MPs and require them to show up to work when the House resumes sitting. Sports Columnists Sunshine Girls Toronto & GTA Toronto & GTA

Sydney Mines Heritage Festival brings hundreds to Main Street
Sydney Mines Heritage Festival brings hundreds to Main Street

CTV News

time11 minutes ago

  • CTV News

Sydney Mines Heritage Festival brings hundreds to Main Street

Hundreds of people gathered in Sydney Mines, N.S., for the community's annual heritage festival. (Ryan MacDonald/CTV News) Hundreds of people filled the main street of Sydney Mines, N.S., over the weekend for the community's annual heritage festival. This year marked the fourth year for the Sydney Mines Heritage Festival, previously know as the Johnny Miles Festival until 2022. In recent years, the festival has been organized by New Deal Holdings of Sydney Mines. A section of Main Street was closed to traffic for the weekend, where vendors sold their goods and musicians performed on stage. Organizers said this year's attendance was the best with many people coming from others parts of the region. 'There's also a sense of pride when the folks come from away', said Dave Julian, a festival organizer and president & CEO of New Deal Holdings. 'They're home for the summer and they see this on the main street, and they say 'You know what? This is the way it was when I was growing up.' That's kind of what we're trying to do again.' Julian added that next year's festival will be a special one, as it will mark the 100th anniversary of Sydney Mines native Johnny Miles' first victory at the Boston Marathon in 1926 (he also won in 1929). He said plans are already in the works to make next year's heritage festival bigger and better, and to further incorporate Miles' memory and his accomplishments as an athlete and a citizen. The three-day event wrapped up on Sunday evening. For more Nova Scotia news, visit our dedicated provincial page

Prediction: This Unstoppable Artificial Intelligence (AI) Stock Will Join Nvidia, Microsoft, Apple, Amazon, and Alphabet in the $2 Trillion Club by Year's End
Prediction: This Unstoppable Artificial Intelligence (AI) Stock Will Join Nvidia, Microsoft, Apple, Amazon, and Alphabet in the $2 Trillion Club by Year's End

Globe and Mail

time11 minutes ago

  • Globe and Mail

Prediction: This Unstoppable Artificial Intelligence (AI) Stock Will Join Nvidia, Microsoft, Apple, Amazon, and Alphabet in the $2 Trillion Club by Year's End

Key Points The $2 trillion club is full of businesses benefitting from the growing demand for artificial intelligence. The company I'm eyeing is developing its own AI capabilities that serve multiple cases across its business with huge revenue opportunities. The stock trades for a fair value, and even slight outperformance could push it into $2 trillion territory. 10 stocks we like better than Meta Platforms › Nvidia recently became the first ever $4 trillion company in the world. Its rapid ascension in value stems from growing demand for artificial intelligence. But Nvidia isn't the only company that's seen its market value soar to multitrillion-dollar levels on the back of AI-fueled growth. The three biggest cloud computing providers -- Amazon, Microsoft, and Alphabet -- all boast market caps above $2 trillion. Meanwhile, Apple remains one of the most valuable companies in the world as it works to catch up on its AI capabilities. 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 » But the $2 trillion club may be about to get a little bigger. One company is showing strong financial results stemming from the rapid advancements of artificial intelligence over the last few years. In fact, I predict it will surpass the $2 trillion market cap milestone before the end of the year. Here's the AI giant that could join the $2 trillion club. One of the biggest beneficiaries of generative AI capabilities I predict that the next member of the $2 trillion club will be Meta Platforms (NASDAQ: META). Not only does it already have a market cap of roughly $1.8 trillion as of this writing on July 24 -- which puts it about 11% from $2 trillion -- but the stock currently looks undervalued relative to the potential opportunities. AI could boost its revenue in the near term while opening up even bigger opportunities in the long run. During Meta's first-quarter earnings call on April 30, CEO Mark Zuckerberg laid out five major opportunities for the company with AI. Improved advertising: Meta has long used machine learning algorithms to help surface advertisements amid organic content to drive maximum engagement. That's led to steady improvements in ad pricing for the company. It's also rolled out generative AI tools that help marketers come up with creatives (ads). In the pipeline, Meta's developing an AI agent that can take a marketer's objective and budget and create and run the entire campaign for them. That has the potential to save marketers money and increase the total number of companies running ads on Meta's properties, further pushing ad prices higher. More engaging experiences: Zuckerberg details two benefits of AI: better recommendations and new types of content. Meta has expanded its AI model to include more data points across all different types of content to improve recommendations across every surface of its apps, including Facebook, Instagram, and WhatsApp. As it grows the model bigger and bigger, it's getting better and better at engaging users. That's only possible because it now has the compute power to support its large language model development. Zuckerberg also expects generative AI tools to provide new ways for creators to produce better content for users. Everything from existing content like photos and videos can be manipulated with AI, and generative AI could enable creators to produce more interactive content as well. Business messaging: Meta's WhatsApp for Business is a relatively small source of income right now. But as Meta improves its AI agent capabilities, it reduces the cost for businesses to provide customer service and sales through WhatsApp and Messenger. That could lead to a surge in WhatsApp for Business users. One analyst thinks AI agents alone are a $100 billion opportunity for Meta. A stand-alone AI chatbot: Meta has integrated the Meta AI assistant into all of its main apps and released a stand-alone version of the app as well. As the user base grows, it could provide another source of valuable advertising inventory. Importantly, since Meta is developing its own large language model for the above applications already, the additional cost of building and running a stand-alone AI chatbot is far lower than for dedicated AI companies like OpenAI or Anthropic. Devices: Zuckerberg points out the growing popularity of Meta's AI glasses. Unit sales tripled in the first quarter. Longer term, generative AI may be essential for creating an augmented reality user interface that fits into the unique setting of each user. Indeed, AI has the potential to dramatically impact Meta's financials in a positive direction in the near term while supporting its long-term objectives in virtual and augmented reality. The stock looks like a bargain right now The above factors should be able to generate strong double-digit revenue growth for Meta for years to come. The company saw 16% revenue growth last quarter, while exhibiting nice operating leverage. As a result, operating income climbed 27% year over year. The big step up in capital expenditures could weigh on earnings growth for the next couple of years as depreciation expense climbs as a result. But as the company grows into those expenses, it should continue to show operating leverage. Meta's also using excess cash flow to repurchase shares. It bought back $13.4 billion worth of its stock in the first quarter, and it still has $70 billion in cash on the balance sheet. As a result, the company should be able to generate strong earnings-per-share growth. As of this writing, the stock trades for 28 times earnings. Considering the growth potential ahead for the stock, that's an enticing price for investors. To push the stock to $2 trillion, it would have to trade for closer to 31 times earnings, which isn't an unreasonable multiple for the stock. But if Meta ends up outperforming expectations, it could trade for the same multiple and still achieve a $2 trillion valuation. I expect a combination of multiple expansion and outperformance to drive the stock to $2 trillion before the end of the year. Should you invest $1,000 in Meta Platforms right now? Before you buy stock in Meta Platforms, 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 Meta Platforms 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 $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% 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 21, 2025

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