Will a softwood lumber deal be part of Canada-U.S. trade negotiations?
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CBC
28 minutes ago
- CBC
Detroit Three lobbying group criticizes deal favouring Japanese imports
Social Sharing Shares of General Motors, Ford Motor, and Stellantis some of the biggest automakers in the U.S., rallied on Wednesday after news of a trade deal that will reduce tariffs on imported Japanese cars, as investors saw it as a sign of more deals to come. But the companies are not celebrating. Automakers importing vehicles into the U.S. from Japan now face a 15 per cent levy, according to terms of the deal outlined on Tuesday by U.S. President Donald Trump, down from 27.5 per cent. GM shares rallied 9 per cent and Stellantis rose 12 per cent, as market watchers said they anticipated further agreements could reduce other trade barriers that have hurt the companies' profits. Ford shares rose about 2 per cent. The automaker is less exposed to tariffs because it produces more of its U.S.-sold vehicles domestically. On Wednesday, the European Union and United States were nearing a trade deal that would also set a 15 per cent tariff on European imports. GM, Ford and Stellantis have been paying up to 25 per cent on vehicles imported from Mexico or Canada, depending on how much U.S. content is in the vehicles. The companies are concerned they could soon be paying higher tariffs on vehicles assembled in Mexico or Canada than on vehicles with significantly less U.S. content made in Japan or the United Kingdom. WATCH | U.S., Japan reach trade deal with 15% tariffs on imported Japanese goods: U.S., Japan reach trade deal with 15% tariffs on imported Japanese goods 22 hours ago Some lobbyists also expressed alarm that if South Korea strikes a similar deal with the U.S., it could become a low-cost market to assemble cars and trucks. "They could be the new Mexico," one lobbyist told Reuters. The American Automotive Policy Council, which represents the Detroit Three, criticized the deal, saying it creates an easier path for Japanese imports than for some cars built in North America. Even before Tuesday's deal, Detroit automotive executives raised concerns that Trump's trade policy could end up giving an edge to foreign automakers who do not invest as heavily in U.S. manufacturing. "This is a bonanza for our import competitors," Ford CEO Jim Farley said in February, when Trump initially proposed levies on Mexico and Canada, but not on major automotive centers such as South Korea. The United Auto Workers union, which represents workers at the Detroit Three automakers, said it was "deeply angered" by the deal. "What we've seen so far makes one thing clear: American workers are once again being left behind," the union said in a statement on Wednesday evening. Th Japan trade announcement came the same day General Motors said tariff costs knocked $1.1 billion USD from its bottom line, hurt by a battery of levies including 25 per cent taxes on imports from Canada and Mexico, and 50 per cent on steel and aluminum imports. Industry consultant and former GM executive Warren Browne said the Japan deal "put all vehicles produced in Mexico and Canada by the Detroit Three at a disadvantage," because they face higher levies than Toyota vehicles shipped in from Japan, for example. That could allow the foreign brands to undercut U.S. car companies on price. The Windsor Assembly Plant could be in trouble if tariffs don't disappear, as company posts losses: Auto expert 3 days ago Toyota, Subaru and Mazda are among the most reliant companies on Japan-produced vehicles for their U.S. sales, and stand to benefit most from the lower tariffs, according to business-analytics firm GlobalData. Toyota imported roughly 500,000 vehicles from Japan last year. Japanese automotive stocks soared after the trade deal announcement. Autos Drive America, which represents those Japanese automakers along with other foreign car companies operating in the United States, on Wednesday praised the trade deal, saying it would lead to further factory investment in the U.S. Treasury Secretary Scott Bessent warned, however, that non-compliance by Japan on the trade agreement would result in a return to the higher tariff rate. "We'll evaluate (compliance) every quarter and if the president's unhappy then we'll boomerang it back to the 25 per cent tariff rate, both on cars and the rest of their products," he said in an interview on Fox News.
CTV News
29 minutes ago
- CTV News
Loblaw's Q2 profit up from a year ago amid higher customer traffic
A customer looks for produce at a grocery store in Ottawa, on Wednesday, April 2, 2025. THE CANADIAN PRESS/Justin Tang BRAMPTON — Loblaw Companies Ltd. reported its second-quarter profit rose compared with a year ago as the company says customer traffic, basket size and item count all increased year-over-year. The parent company of Loblaws and Shoppers Drug Mart says its net earnings available to common shareholders amounted to $714 million or $2.37 per diluted share for the quarter ended June 14. The result was up from a profit of $457 million or $1.48 per diluted share in the second quarter of 2024. On an adjusted basis, Loblaw says it earned $2.40 per diluted share in its latest quarter, up from an adjusted profit of $2.15 per diluted share a year earlier. Revenue for the quarter totalled $14.7 billion, up from $13.9 billion, as food retail same-store sales rose by 3.5 per cent. Drug retail same-store sales rose 4.1 per cent, with pharmacy and health care services same-store sales up 6.2 per cent, and front store same-store sales increasing 1.7 per cent. This report by The Canadian Press was first published July 24, 2025.
National Post
29 minutes ago
- National Post
Harvest High Income Shares ETFs Announces July 2025 Distributions
Article content OAKVILLE, Ontario — Harvest Portfolios Group Inc. ('Harvest') announces the following distributions for Harvest High Income Shares ETFs for the month ending July 31, 2025. The distribution will be paid on or about August 8, 2025 to unitholders of record on July 31, 2025 with an ex-dividend date of July 31, 2025. Article content Harvest High Income Shares ETF Ticker Distribution Harvest Eli Lilly High Income Shares ETF LLYH $0.1600 per unit Harvest Eli Lilly High Income Shares ETF (US) LLYH.U $0.1600 per unit Harvest Amazon High Income Shares ETF AMZH $0.1400 per unit Harvest Amazon High Income Shares ETF (US) AMZH.U $0.1400 per unit Harvest Microsoft High Income Shares ETF MSFH $0.1400 per unit Harvest Microsoft High Income Shares ETF (US) MSFH.U $0.1400 per unit Harvest NVIDIA High Income Shares ETF NVDH $0.1800 per unit Harvest NVIDIA High Income Shares ETF (US) NVDH.U $0.1800 per unit Harvest Eli Lilly Enhanced High Income Shares ETF LLHE $0.1800 per unit Harvest Eli Lilly Enhanced High Income Shares ETF (US) LLHE.U $0.1800 per unit Harvest Amazon Enhanced High Income Shares ETF AMHE $0.1600 per unit Harvest Amazon Enhanced High Income Shares ETF (US) AMHE.U $0.1600 per unit Harvest Microsoft Enhanced High Income Shares ETF MSHE $0.1600 per unit Harvest Microsoft Enhanced High Income Shares ETF (US) MSHE.U $0.1600 per unit Harvest NVIDIA Enhanced High Income Shares ETF NVHE $0.2200 per unit Harvest NVIDIA Enhanced High Income Shares ETF (US) NVHE.U $0.2200 per unit Harvest MicroStrategy High Income Shares ETF MSTY $0.3300 per unit Harvest Coinbase High Income Shares ETF CONY $0.2800 per unit Harvest Palantir Enhanced High Income Shares ETF PLTE $0.5500 per unit Harvest Tesla Enhanced High Income Shares ETF TSLY $0.2500 per unit Harvest Meta Enhanced High Income Shares ETF METE $0.2000 per unit Harvest Diversified High Income Shares ETF HHIS $0.2500 per unit Harvest AMD Enhanced High Income Shares ETF AMDY $0.2400 per unit Harvest Broadcom Enhanced High Income Shares ETF AVGY $0.2200 per unit Harvest Coinbase Enhanced High Income Shares ETF CNYE $0.4000 per unit Harvest Costco Enhanced High Income Shares ETF COSY $0.1000 per unit Harvest Alphabet Enhanced High Income Shares ETF GOGY $0.1200 per unit Harvest MicroStrategy Enhanced High Income Shares ETF MSTE $0.6000 per unit Harvest Netflix Enhanced High Income Shares ETF NFLY $0.2000 per unit Harvest Apple Enhanced High Income Shares ETF APLE $0.1200 per unit Article content Article content Note: Harvest High Income Shares ETFs that trade in US dollars with Ticker ending in '.U' pay the distribution in US dollars. Article content For additional information: Please visit e-mail info@ or call toll free 1-866-998-8298. Article content Website: Article content Article content Article content E-mail: Article content info@ Article content Article content Toll free: 1-866-998-8298 Article content Article content LinkedIn: Article content Article content Twitter: Article content Article content Facebook: Article content Article content You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund. If the shares are purchased or sold, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning shares of an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Distributions are paid to you in cash unless you request, pursuant to your participation in a distribution reinvestment plan, that they be reinvested into Class A and Class U units of the Fund. If the Fund earns less than the amounts distributed, the difference is a return of capital. An investment fund must prepare disclosure documents that contain key information about the investment fund. You can find more detailed information about the investment fund in these documents. Article content Article content Article content Article content Article content Contacts Article content For Additional Information: Article content Website: Article content Article content Article content
