'He needs to focus on his number one customer': Doug Ford on trade talks with Trump
Ontario Premier Doug Ford comments on the Canada-U.S. trade talks, saying that 'a tariff on Canadians is a tax on Americans.' CP24's Beatrice Vaisman reports.
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CBC
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Hilary Weston, former fashion business leader and Ontario lieutenant-governor, dead at 83
Hilary Weston, an Irish Canadian former fashion model, 26th lieutenant-governor of Ontario and businesswoman, has died, her family said in a statement on Sunday. She was 83. She was married to the late Canadian billionaire Galen Weston, with whom she had two children, and held various executive roles in the fashion industry on both sides of the Atlantic, including at Holt Renfrew in Canada and Brown Thomas & Co. in Ireland. The Irish-born Weston was invested into the Order of Canada in 2005 for her public service and philanthropic work. She served as Ontario's lieutenant-governor from 1997 to 2002. "Our mother lived with unwavering devotion to her family and a belief in the power and importance of community and service," her son Galen Jr. said in the statement.
The Province
20 minutes ago
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U.S. trade frameworks create 'shifting landscape' as B.C. looks to cultivate LNG markets
The U.S. is also willing to 'simply use their influence to bully trade partners into beneficial trade deals on energy,' says one observer. At the same time Premier David Eby was touting B.C.'s potential to export liquefied natural gas to Asia, U.S. President Donald Trump was unveiling his county's trade framework agreement with South Korea. Here, Eby tours the control room for the LNG Canada plant in Kitimat. Photo by Government of B.C. At the same time Premier David Eby was touting B.C.'s potential to export liquefied natural gas to Asia, U.S. President Donald Trump was unveiling his county's trade framework agreement with South Korea, which included a commitment to purchase US$100 billion of American LNG. 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. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by top sports columnists Patrick Johnston, Ben Kuzma, J.J. Abrams and others. Plus, Canucks Report, Sports and Headline News newsletters and events. Unlimited online access to The Province and 15 news sites with one account. The Province ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles and comics, including the New York Times Crossword. Support local journalism. 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 Tying energy to easing up on tariff threats has become a common theme in Trump's attempt to reorder the U.S. trading landscape, either with purchase commitments or contributions to American energy infrastructure, an element in a framework reached with Japan. Such agreements create a 'shifting landscape' for the LNG market that Canada will have to navigate with partners apparently willing to pay premiums for American energy in exchange for their 'strategic partnership' with the U.S., said University of B.C. trade economist Werner Antweiler. Eby's Asia trade mission, mere weeks before the U.S. deals were announced, sought to cultivate B.C.'s trade relationship with both countries, and he left sounding assured about the province's potential. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. Eby spoke about meetings B.C. representatives had with LNG Canada's key partners: the Korean gas utility KOGAS, Mitsubishi in Japan and Malaysia's Petronas, where executives 'underlined how important it was to them that this project was able to be reliable.' However, Antweiler, chair in international trade policy at UBC's Sauder School of Business, noted that the U.S. is also willing to 'simply use their influence to bully trade partners into beneficial trade deals on energy. David Eby has spoken about meetings B.C. representatives had with LNG Canada's key partners: the Korean gas utility KOGAS, pictured here, Mitsubishi in Japan and Malaysia's Petronas. However, the U.S. is also willing to 'simply use their influence to bully trade partners into beneficial trade deals on energy,' says one observer. Photo by SeongJoon Cho / Bloomberg 'Some have called it a protection racket,' Antweiler said. 'Korea buys U.S. energy at a premium or preferentially, and in turn U.S. provides military protection, rather than for the U.S.'s own geostrategic benefit.' LNG's buyers — major utility firms — purchase fuel on long-term contracts and Antweiler said it is likely the South Korea deal will result in a 'reshuffling market share,' with new U.S. imports replacing its expiring contracts with Qatari LNG suppliers. This advertisement has not loaded yet, but your article continues below. 'Their overall demand for LNG is not increasing much and is down from a peak in 2021,' Antweiler said. In rough estimate, he estimated it could increase the U.S. share of South Korea's market to about one third from five per cent now. In the case of Japan, the notice from Trump's White House dated July 23, said the sides are 'exploring a new offtake agreement for Alaskan LNG,' with a proposal that is in its early stages, but which is vying for the same market share as B.C. 'Japan's commitment to Alaskan LNG may be looked at through the perspective of energy security too,' Antweiler said. Premier David Eby (right) watches as a LNG carrier manoeuvres in Kitimat. LNG Canada, a consortium of five partners including Shell, Malaysian state-owned Petronas, PetroChina, Mitsubishi Corp. and KOGAS, is contemplating a $30-billion addition to its Kitimat plant that would nearly double its capacity to 26 million tonnes of LNG per year from 14 million tonnes per year now. Photo by Government of B.C. / Government of B.C. Energy Minister Adrian Dix argued that the LNG projects in the works 'have real advantages over other projects, say the Alaska project, and everything else.' This advertisement has not loaded yet, but your article continues below. 'Obviously we only control what we control, the provincial and the federal government,' Dix said. However, he added that the provincial and federal governments are 'working closely' with LNG Canada related to the company's yet-to-be approved Phase 2. LNG Canada, a consortium of five partners including Shell, Malaysian state-owned Petronas, PetroChina, Mitsubishi Corp. and KOGAS, is contemplating a $30-billion addition to its Kitimat plant that would nearly double its capacity to 26 million tonnes of LNG per year from 14 million tonnes per year now. A spokesperson for LNG Canada said the company itself isn't involved in sales: its joint-venture partners determine where the product is delivered and sold. This advertisement has not loaded yet, but your article continues below. Dix, however, said 'we feel that our (LNG Canada Phase 2) is a really outstanding project and we're optimistic about it. But at the same time, it's not entirely our decision. It is a reason why you want to settle all the issues so that the sooner they move forward, the better it is for B.C. and for everybody.' Dix added that before now, B.C. didn't have the option of offshore exports for natural gas, the province's biggest export commodity, worth $16 billion in trade in 2024. And the U.S. trade deals underline the importance for B.C. to diversify. 'If you ask me, do I worry? I worry every day about everything,' Dix said. 'Because there's a lot at stake for B.C. and we've got to continue to meet our economic goals, we've got to continue to create more wealth and energy sovereignty.' Antweiler said Canada might need to turn to 'countries that are not constrained by trade deals with the United States.' 'It's all a matter of reshuffling trade directions, but in the end the LNG market is global,' he added. 'World supply and world demand must be clear, no matter what the U.S. does.' depenner@ Read More News News Tennis News News
Calgary Herald
24 minutes ago
- Calgary Herald
Oil drops after OPEC+ supply hike amplifies concerns over glut
Article content (Bloomberg) — Oil fell after OPEC+ agreed to another bumper output increase, stoking concerns about global oversupply just as the US-led trade war may be exacting a toll on economic growth and energy consumption. Article content Brent was 0.5% lower at $69.32 a barrel, while West Texas Intermediate fell below $67, after OPEC+ endorsed an additional 547,000 barrels-a-day of output from September, completing the revival of a voluntarily-halted supply tranche a year ahead of an initial timetable. Another layer — of about 1.66 million barrel-a-day of curbed output — may follow, although there's no clear signaling. Article content Article content Article content Crude is coming off the back of a three-month winning run, although prices slumped last Friday as soft US jobs data raised concern the world's largest economy was slowing following the Trump administration's wave of levies. Still, traders are weighing the possibility Washington may also move later this week against Russian oil flows, including buyers, in a bid to raise the pressure against Moscow to pause the war in Ukraine. Article content Article content The September output increase announced by OPEC+ at the weekend was as expected, and stands to complete the reversal of a cutback made by an eight-member sub-group in the wider alliance, including Saudi Arabia and Russia, in 2023. The progressive restoration of supplies over recent months has been widely seen as a concerted push by the cartel to reclaim market share against rivals such as US shale drillers, as well as other non-cartel producers. Article content Article content
