Key moments from Carney's meeting with Trump
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Calgary Herald
27 minutes ago
- Calgary Herald
Trump announces Vietnam trade deal with 20% import tariff
Article content The S&P 500 rose after Trump's post, with shares in furniture stocks and apparel makers recording gains. ON Holding, Nike and Lululemon all jumped to hit session highs. Article content Some U.S. officials wanted to calibrate tariffs for Vietnam and others in Southeast Asia to ensure they're sufficiently lower than what's imposed on China, to encourage production to leave that country. Article content The higher 40 per cent rate announced Wednesday would be imposed on goods deemed to be 'transshipping' — where components from China and possibly other nations are routed through Vietnam or subject to only minimal final assembly before being exported to the U.S. Article content That's been a major concern for Trump's top trade advisers, including Peter Navarro, who described Vietnam as 'essentially a colony of communist China' during an April interview with Fox News. Article content Full details of what goods would be subject to that higher rate were not immediately available. Article content Article content U.S. exports to Vietnam were worth just US$15 billion last year. Trump touted the prospect of a boost in auto sales as a result of the deal. Article content 'It is my opinion that the SUV or, as it is sometimes referred to, Large Engine Vehicle, which does so well in the United States, will be a wonderful addition to the various product lines within Vietnam,' he wrote on Truth Social. Article content Although Trump shared the broad contours of the agreement, the White House has not yet released a term sheet or published any kind of proclamation codifying the arrangement. And some of the details could still be in development. The U.S. and U.K. first announced their own trade deal in early May, but it wasn't until mid-June that Trump signed an executive order implementing the accord. And even then, key details have been set aside to be addressed later. Article content While Trump and his team initially envisioned holding concurrent negotiations with dozens of trading partners, the president and his advisers have suggested in recent weeks that they will just focus talks with major economies and unilaterally issue levies on smaller countries or those that don't reach agreements. Article content Article content The deal with Vietnam was struck after weeks of discussions during which the U.S. pressured the country to get tougher on trade fraud, ensure stricter enforcement against the transshipment of Chinese products, and also pushed for the removal of non-tariff barriers. Article content Vietnam offered to remove all tariffs and repeatedly promised to purchase more American goods. Senior Vietnamese officials flew to the U.S. to rally support and sign deals, including for US$3 billion of agricultural goods. The trade minister also wooed executives from Nike, Gap and others to encourage them to get behind negotiation efforts. Article content Officials in the country also touted the Trump Organization's plans to develop a $1.5 billion luxury resort complex, a project that will feature five-star hotels, golf courses and residential estates spanning more than 990 hectares.
Globe and Mail
41 minutes ago
- Globe and Mail
Kilmar Abrego Garcia says he was beaten and tortured after deportation to El Salvador jail
Kilmar Abrego Garcia said he suffered severe beatings, severe sleep deprivation and psychological torture in the notorious El Salvador prison the Trump administration had deported him to in March, according to court documents filed Wednesday. Abrego Garcia was living in Maryland when he was mistakenly deported and became a flashpoint in President Donald Trump's immigration crackdown. The new details of Abrego Garcia's incarceration in El Salvador were added to a lawsuit against the Trump administration that Abrego Garcia's wife filed in Maryland federal court after he was deported. The Trump administration has asked a federal judge in Maryland to dismiss the lawsuit, arguing that it is now moot because the government returned him to the United States as ordered by the court.
CTV News
41 minutes ago
- CTV News
Ontario looks at boosting rules around data centre electricity usage
The provincial government is prioritizing electricity access for some data centres. CTV's Karis Mapp finds out why. Ontario could soon become more selective about which data centres are allowed to connect to the province's energy grid. A data centre is a facility that includes the computing and storage infrastructure required to run a business. That can include servers, storage systems and networking equipment. Some data centres have high electricity needs to run not just the computing systems, but also the cooling mechanisms required to keep those systems running. In an announcement on Wednesday, the province said it is planning to introduce stricter rules and prioritize some data centres within the province. 'That means prioritizing data centres that drive real value to the province: job creation, innovation, economic growth, domestic data security,' said Stephen Lecce, the Minister of Energy and Mines, while visiting Kitchener's Communitech. Data centres that are given priority will see their applications to connect to the power grid accelerated. Meanwhile, the province is also trying to pass a new act, known as the Protect Ontario by Securing Affordable Energy for Generations Act, that would require some centres to gain approval before connecting to the grid. Currently, utilities must connect all data centres, regardless of their economic impact or energy consumption needs. 'That's not really responsible planning,' Lecce said. 'That's not about protecting the province, especially at a time when others want to see us fail.' One of the largest drivers of the increasing energy demand in the province can be attributed to artificial intelligence (AI) and the large data centres required to operate the technology. 'I think the Waterloo region has lots of reasons to be optimistic about the next era of tech success,' Sheldon McCormick, CEO of Communitech, said. 'Largely, it will be built on artificial intelligence. The government is taking it seriously to protect our digital infrastructure, which is going to be critical to power that next era of AI.' Provincial officials also said today's announcement will help protect Canadians' personal data by ensuring it is hosted in Canada, instead of in other places with weaker privacy legislation.
