Ottawa makes good on promise to cut Confederation Bridge tolls, ferry fares in Eastern Canada
"It's always a good day when you wake up on Prince Edward Island, and today is an especially good day. It's a big day," Carney said at the announcement on Prince Edward Island's South Shore, with the Confederation Bridge visible behind him.
Effective Aug. 1, the cost of crossing the bridge, which connects P.E.I. with New Brunswick, will fall to $20 from $50.25. Transport trucks will also pay a flat rate of $20. There's no change in the cost for cyclists, pedestrians, shuttles or motorcycles.
Fares for passengers, cars and commercial traffic on ferry services in Eastern Canada that are federally supported will go down by 50 per cent.
Those ferries provide service between:
Magdalen Islands, Que., and Souris, P.E.I.
Wood Islands, P.E.I., and Caribou, N.S.
Saint John, N.B., and Digby, N.S.
"Today's announcement will mean more Canadians can see more of Atlantic Canada," Carney said.
WATCH | Prime Minister Mark Carney on cuts to Confederation Bridge toll, key ferry fares in Eastern Canada:
Fares for passengers and vehicles on the ferry that operates between Nova Scotia and Newfoundland and Labrador are also going down. Ottawa has pledged to increase funding to the operator, Marine Atlantic, to lower the price by 50 per cent. Ottawa is also freezing commercial freight rates on that route.
"The costs of the bridge and ferry don't just fall on tourists," Carney said. "If we are going to build a stronger, more united economy, and we are doing that, we are going to need to make it more affordable to travel around this country, for people and for businesses."
WATCH | Islanders and tourists excited about reduced price to leave P.E.I.:
For Rob Lantz, premier of P.E.I., Monday's announcement validated his months-long lobbying effort to reduce the fees.
"I've been a real pest, a thorn in the side of everyone in Ottawa," he said.
"We've been pushing for this forever. It's been 28 years that we've paid outrageous tolls on that bridge behind us and this is going to save Prince Edward Islanders tens of millions of dollars."
The move will make life more affordable on P.E.I., he said
"That bridge effectively acted as a tariff on everything we exported. And that is greatly, greatly reduced today."
Rates will be frozen for several years
According to Straight Crossing Bridge Ltd., the company that operates the Confederation Bridge, the $20 toll will apply to all passenger vehicles and transport trucks. Truckers will now be charged the flat rate instead of by the number of axles on their vehicle.
The cost for cyclists, people walking or talking the shuttle, and riding a motorcycle will stay the same.
There are seven years left in Straight Crossing's contract with Ottawa. Over that time, the federal government will cover the cost of keeping the toll at $20, said Heath MacDonald, MP for Malpeque and federal agriculture minister.
Lowering the toll will cost taxpayers, he said, but the knock-on economic effects will outweigh that.
WATCH | 'It's a good day': P.E.I. MP breaks down the deal to reduce bridge, ferry fees:
"Ninety-five per cent of our products leave by transport. We have about a million cars and trucks coming across that bridge, for example, and ferry," MacDonald said.
"That's extremely important... to small to medium-sized enterprises."
Four years remain in Ottawa's contract with Northumberland Ferries Limited, the operator of the ferry service between P.E.I. and Nova Scotia. During that time, fares will be capped at 50 per cent of current rates, MacDonald said.
The federal government estimates the entire deal will return about $100 million into Canadians' pockets each year — money they can then reinvest into the economy.
When the contracts expire, prices will be back up for negotiation.
'An important decision for us'
The importance of affordable travel is not lost on Joanne Thompson, the MP for the Newfoundland and Labrador riding of St. John's East and the federal fisheries minister.
"We are reliant on Marine Atlantic as part of our connection with the Atlantic Canadian provinces and also the rest of Canada," Thompson said.
More than 60 per cent of all goods transported to and from Newfoundland are handled by Marine Atlantic, the federal government said. It also transports about 90 per cent of all perishable items like fresh produce and propane for home heating.
"This is an important decision for us on connectivity," Thompson said. "It's an important decision for our economy and it is important for our families."
Minister of Transport and Internal Trade Chrystia Freeland echoed that statement and said the announcement brings measurable economic benefits during a "really challenging time for Canada."
"If we work together, if we build one Canadian economy, if we build Canada strong we can give more to ourselves, we can do more for ourselves and each other than anyone can take away from us," Freeland said.
This is Carney's first official visit to P.E.I. as prime minister since the federal election. The announcement makes good on his campaign pledge to reduce the Confederation Bridge tolls and cut ferry rates.
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The White House took a step forward with President Trump's plan to remake the trade landscape by releasing new details Thursday evening that included a raft of new tariff rates now formally authorized by executive order, which set new levels from 15% to 40% on over 70 countries. The move represents a giant shakeup in the US's trade order, with outlined rates that range from a 35% tariff on Canada (up from 25%) to rates above 30% on nations from Algeria to Switzerland. But there's a last minute catch, as these new rates will not go into effect for seven days, instead of a midnight Friday deadline as originally planned — according to the text of the order. India, after initial high hopes for a deal that have bogged down in recent weeks, is set to face a 25% rate but now appears to have another week to negotiate. Taiwan is another top US trading partner and is set to see a 20% rate. The White House documentation released Thursday also confirmed some of the parameters of recent deals including 19%-20% rates on a range of Southeast Asian nations and an unchanged 10% rate on the United Kingdom. Dozens of other nations also saw their tariff rates upped to 15% from 10% — in line with deals sketched out in recent days that included that headline 15% tariff rate on Europe, South Korea, and Japan. But some nations were not included in Tuesday's release — those omitted included many nations with which the US currently has a trade surplus — who therefore are set to see their rates remain at 10%, in a surprise relief for some after comments from Trump in recent days suggested 15% would be his new minimum. Read more here. Trump extends Mexico's current tariff rates President Trump said he would extend Mexico's current tariff rates for another 90 days to allow for more time for negotiations. Mexico was facing tariffs of up to 35% on certain goods beginning on Friday. The reprieve came after Trump talked with Mexican President Claudia Sheinbaum. Imports from Mexico will still be subject to other tariffs, namely duties on metals and cars. President Trump said he would extend Mexico's current tariff rates for another 90 days to allow for more time for negotiations. Mexico was facing tariffs of up to 35% on certain goods beginning on Friday. The reprieve came after Trump talked with Mexican President Claudia Sheinbaum. Imports from Mexico will still be subject to other tariffs, namely duties on metals and cars. Brazil sees 35.9% of exports to US facing steeper tariff: Sources Reuters reports: Read more here. Reuters reports: Read more here. Trump: Tariffs are making 'America great and rich again' President Trump hit Truth Social again on Thursday posting that tariffs are making America "great and rich again." "ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE 'HOTTEST'COUNTRY ANYWHERE IN THE WORLD. CONGRATULATIONS TO ALL!," Trump posted. The US president also had a message for Washington's federal appeal court judges, who Trump will be meeting today in order to defend his tariffs. "To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" On the eve of Trump's tariff deadline the US president unleashed a flurry of surprises. With news of deals with Thailand, Cambodia and rumours of deals with Taiwan. Unless trading partners reach an agreement by tomorrow, many will face higher tariffs. President Trump hit Truth Social again on Thursday posting that tariffs are making America "great and rich again." "ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE 'HOTTEST'COUNTRY ANYWHERE IN THE WORLD. CONGRATULATIONS TO ALL!," Trump posted. The US president also had a message for Washington's federal appeal court judges, who Trump will be meeting today in order to defend his tariffs. "To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" On the eve of Trump's tariff deadline the US president unleashed a flurry of surprises. With news of deals with Thailand, Cambodia and rumours of deals with Taiwan. Unless trading partners reach an agreement by tomorrow, many will face higher tariffs. What's in the US-EU trade deal depends on who is doing the talking Yahoo Finance's Washington correspondent Ben Werschkul looks into the detail of the US-EU trade deal: Read more here. Yahoo Finance's Washington correspondent Ben Werschkul looks into the detail of the US-EU trade deal: Read more here. Trump back in court Thursday to defend the tariffs he plans to impose Friday US president Trump has already started to defend tariffs via his social media app Truth Social. Trump who will be meeting with US federal appeal court judges today posted that tariffs are making "America great and rich again." "To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" Trump added. Yahoo Finance's senior legal reporter Alexis Keenan breaks down President Trump's face-off with the federal appeals court judges over his tariffs: Read more here. US president Trump has already started to defend tariffs via his social media app Truth Social. Trump who will be meeting with US federal appeal court judges today posted that tariffs are making "America great and rich again." "To all of my great lawyers who have fought so hard to save our Country, good luck in America's big case today. If our Country was not able to protect itself by using TARIFFS AGAINST TARIFFS, WE WOULD BE 'DEAD,' WITH NO CHANCE OF SURVIVAL OR SUCCESS. Thank you for your attention to this matter!" Trump added. Yahoo Finance's senior legal reporter Alexis Keenan breaks down President Trump's face-off with the federal appeals court judges over his tariffs: Read more here. Pakistan and US reach a trade agreement to develop oil reserves and reduce tariffs The US and Pakistan have announced that they have reached a trade agreement that would allow Washington to develop Pakistan's untapped oil reserves and lower tariffs for the South Asian country, officials from both nation's said on Thursday. AP reports: Read more here. The US and Pakistan have announced that they have reached a trade agreement that would allow Washington to develop Pakistan's untapped oil reserves and lower tariffs for the South Asian country, officials from both nation's said on Thursday. AP reports: Read more here. EU wine, spirits to face 15% US tariff from August 1: EU official Reuters reports: Read more here. Reuters reports: Read more here. Trump tariff surprise triggers implosion of massive copper trade Bloomberg reports: The global copper market is reeling from its biggest shock yet in a year of policy surprises, violent price swings and unprecedented trade dislocation. President Donald Trump went ahead with 50% tariffs on copper imports, but exempted refined metals that are the mainstay of international trading. The move triggered a record plunge for US prices, after an unprecedented period of fat profits for traders who hurried metal to America before the levies kicked in. A large premium for New York futures over London evaporated. 'This has badly deviated from market expectations,' said Li Xuezhi, head of research at Chaos Ternary Futures Co., a unit of a commodities hedge fund in Shanghai. Those betting on higher US prices have 'wasted all their efforts' and global copper flows will return to normal, he said. Read more here. Bloomberg reports: The global copper market is reeling from its biggest shock yet in a year of policy surprises, violent price swings and unprecedented trade dislocation. President Donald Trump went ahead with 50% tariffs on copper imports, but exempted refined metals that are the mainstay of international trading. The move triggered a record plunge for US prices, after an unprecedented period of fat profits for traders who hurried metal to America before the levies kicked in. A large premium for New York futures over London evaporated. 'This has badly deviated from market expectations,' said Li Xuezhi, head of research at Chaos Ternary Futures Co., a unit of a commodities hedge fund in Shanghai. Those betting on higher US prices have 'wasted all their efforts' and global copper flows will return to normal, he said. Read more here. Lutnick: US made trade deals with Thailand and Cambodia Bloomberg News reports: Read more here. Bloomberg News reports: Read more here. Sign in to access your portfolio
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Returns Are Gaining Momentum At Doman Building Materials Group (TSE:DBM)
What trends should we look for it we want to identify stocks that can multiply in value over the long term? In a perfect world, we'd like to see a company investing more capital into its business and ideally the returns earned from that capital are also increasing. If you see this, it typically means it's a company with a great business model and plenty of profitable reinvestment opportunities. So when we looked at Doman Building Materials Group (TSE:DBM) and its trend of ROCE, we really liked what we saw. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. What Is Return On Capital Employed (ROCE)? If you haven't worked with ROCE before, it measures the 'return' (pre-tax profit) a company generates from capital employed in its business. The formula for this calculation on Doman Building Materials Group is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) 0.069 = CA$136m ÷ (CA$2.2b - CA$233m) (Based on the trailing twelve months to March 2025). Therefore, Doman Building Materials Group has an ROCE of 6.9%. Ultimately, that's a low return and it under-performs the Trade Distributors industry average of 10%. Check out our latest analysis for Doman Building Materials Group In the above chart we have measured Doman Building Materials Group's prior ROCE against its prior performance, but the future is arguably more important. If you'd like, you can check out the forecasts from the analysts covering Doman Building Materials Group for free. What Can We Tell From Doman Building Materials Group's ROCE Trend? Even though ROCE is still low in absolute terms, it's good to see it's heading in the right direction. The numbers show that in the last five years, the returns generated on capital employed have grown considerably to 6.9%. Basically the business is earning more per dollar of capital invested and in addition to that, 130% more capital is being employed now too. So we're very much inspired by what we're seeing at Doman Building Materials Group thanks to its ability to profitably reinvest capital. Our Take On Doman Building Materials Group's ROCE In summary, it's great to see that Doman Building Materials Group can compound returns by consistently reinvesting capital at increasing rates of return, because these are some of the key ingredients of those highly sought after multi-baggers. And investors seem to expect more of this going forward, since the stock has rewarded shareholders with a 87% return over the last five years. In light of that, we think it's worth looking further into this stock because if Doman Building Materials Group can keep these trends up, it could have a bright future ahead. Doman Building Materials Group does come with some risks though, we found 2 warning signs in our investment analysis, and 1 of those shouldn't be ignored... While Doman Building Materials Group may not currently earn the highest returns, we've compiled a list of companies that currently earn more than 25% return on equity. Check out this free list here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
