Canada hikes tariffs on foreign steel, pledges $70M for workers
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Winnipeg Free Press
4 minutes ago
- Winnipeg Free Press
Finance and foreign ministers in Mexico to talk trade ahead of Carney's visit
OTTAWA – Foreign Affairs Minister Anita Anand and Finance Minister François-Philippe Champagne are in Mexico to meet with President Claudia Sheinbaum to talk economic growth, trade and security. Their trip is happening ahead of Prime Minister Mark Carney's planned visit to Mexico to meet with Sheinbaum. The U.S. hit Canada on Friday with a 35 per cent tariff on goods not compliant with the Canada-United States-Mexico agreement on trade, known as CUSMA, while Mexico received a 90-day reprieve from threatened higher levies. CUSMA is scheduled for a mandatory review next year. Ontario Premier Doug Ford called last year for a bilateral trade deal between Canada and the United States because he said Mexico was serving as a back door for Chinese auto parts and vehicles entering the North American market. Monday Mornings The latest local business news and a lookahead to the coming week. Anand and Champagne will also meet with Canadian and Mexican business leaders during the two-day trip. This report by The Canadian Press was first published Aug. 5, 2025.
CTV News
4 minutes ago
- CTV News
U.S. trade deficit narrows to US$60.2 billion in June
The President Bush, a container vessel operating under the American President Lines (APL) fleet, is moored at the APL Terminal, also known as Global Gateway South, at the port of Los Angeles, Calif., Friday, Aug. 1, 2025. (AP Photo/Damian Dovarganes) The U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, the latest evidence of the imprint on global commerce President Donald Trump is making with sweeping tariffs on imported goods. The overall trade gap narrowed 16.0 per cent in June to US$60.2 billion, the Commerce Department's Bureau of Economic Analysis said on Tuesday. Days after reporting that the goods trade deficit tumbled 10.8 per cent to its lowest since September 2023, the government said the full deficit including services also was its narrowest since September 2023. Exports of goods and services totaled $277.3 billion, down from more than $278 billion in May, while total imports were $337.5 billion, down from $350.3 billion. The diminished trade deficit contributed heavily to the rebound in U.S. gross domestic product during the second quarter, reported last week, reversing a drag in the first quarter when imports had surged as consumers and businesses front-loaded purchases to beat the imposition of Trump's tariffs. The economy in the second quarter expanded at a 3.0 per cent annualized rate after contracting at a 0.5 per cent rate in the first three months of the year, but the headline figure masked underlying indications that activity was weakening. Last week Trump, ahead of a self-imposed deadline of Aug. 1, issued a barrage of notices informing scores of trading partners of higher import taxes set to be imposed on their goods exports to the U.S. With tariff rates ranging from 10 to 41 per cent on imports to the U.S. set to kick in on Aug. 7, the Budget Lab at Yale now estimates the average overall U.S. tariff rate has shot up to 18.3 per cent, the highest since 1934, from between two and three per cent before Trump returned to the White House in January. (Reporting by Dan Burns; Editing by Andrea Ricci)
National Post
4 minutes ago
- National Post
Recognition in Recession: 15-Point Yearly Drop in Recognition Fuels Increasing Workforce Disengagement
Article content Achievers Workforce Institute's annual State of Recognition Report reveals a decline in regular workplace recognition that is fueling employee disengagement, eroding trust, and hurting productivity, and offers insights on how organizations can turn the tide Article content TORONTO — Employee recognition is in sharp decline compared to last year, adversely impacting employee performance, according to Achievers' 2025 State of Recognition report from Achievers Workforce Institute (AWI). AWI is the research and insights arm of Achievers, the world's most utilized recognition and reward software. The significant decline has initiated a ripple effect across key workplace metrics, including employee engagement, trust, and productivity. Article content AWI's annual State of Recognition Report – now in its fifth iteration and the leading analysis of recognition behavior and impact – analyzes the experiences of 3,600 employees across the world. This year's study uncovered widespread erosion of recognition frequency, consistency, and perceived value. Article content The data is clear: when recognition drops, performance follows. Ninety percent (90%) of employees say recognition would boost their productivity, and 91% say they'd put in more effort if they felt their contributions were valued. Yet, AWI's latest report reveals a stark contrast between aspirations and reality: only 23% of employees feel meaningfully recognized at work, and over half are recognized just a few times a year or less. With only 26% of employees reporting that they feel engaged at work and just 23% describing themselves as enthusiastic about their jobs, under-recognition is a key driver of the $438 billion global disengagement crisis. Article content While the workplace struggles to find solid ground as it navigates never-ending uncertainty, recognition remains one of the most effective but underutilized levers for engagement and performance. The good news? Recognition hasn't become entirely obsolete, but it's coming later, less often, and with less impact. Article content Weekly recognition may have dropped significantly, but quarterly recognition has more than doubled in the last year. This indicates that employees want to recognize others but may simply lack the tools or time to do so with consistency. Article content However, there's a direct link between recognition frequency and employee effectiveness. Employees who receive meaningful weekly recognition are 9 times more likely to feel a strong sense of belonging, 6 times more likely to see a long-term career at their company, and 2.6 times more likely to be their most productive selves. These numbers tell us that the more recognition the global workforce receives, the more global businesses stand to save on costly turnover and disengagement, which together amount to trillions in lost productivity each year. Article content Manager Recognition Rewrites the 'Toxiboss' Playbook Article content Manager recognition is the most effective way to ensure employees feel valued, and thereby more apt to put in extra effort. The most effective managers make recognition a daily priority, and they do it because their organizations foster a recognition-centric culture on a daily basis. Article content When employees feel recognized by their managers, they're up to 19 times more likely to trust them, 16.5 times more likely to recommend their company as a great place to work, and 2–3 times more likely to feel engaged, productive, and connected. Yet only 15% of employees say their manager regularly recognizes them – a drop from 20% last year – and a disheartening figure that has led to a decrease in the percentage of people who are engaged, productive, committed, and feel warmly welcomed at their company. This finding means that most managers fall under the 'toxiboss' archetype; those who expect great work from their employees but aren't taking the meaningful steps themselves to show their workers that their work is appreciated and critical to their company's mission. Article content 'The data reaffirms a truth many of us have known for years, you can't be a great manager if you don't express gratitude,' said David Bator, Managing Director of AWI. 'When managers give frequent, meaningful recognition to their teams, their workers are more likely to bring their whole selves to work. Unfortunately, most managers don't do this and would be shocked to be called 'toxic' as a result. It's not that these leaders don't cherish their people; they simply may not understand the science-backed power of recognition. Therefore, they prioritize other items on their endless to-do lists, when in fact, recognition is the single most effective tool for building high-performing teams.' Article content Recognition is a Lifeline in Today's Crisis of Connection Article content The workplace is not an easy place to be right now, as layoffs, fluctuating economic conditions, and the ushering in of AI have combined to result in a widespread case of the workplace blues defined by disconnection, loneliness, and disengagement. In many cases, people work more closely with AI rather than their coworkers, leaving a widening connection gap in dire need of being filled by something as simple as friendship. However, when employees are regularly and meaningfully recognized by their peers, they are 33% more likely to feel a strong sense of belonging at their workplace, and 37% more likely to see a long career at their company. These numbers underscore the notion that peer recognition is critical to fostering a widespread sense of belonging. Article content 'In today's workplace, we're technologizing humans and humanizing technology, but we're missing the opportunity to humanize humans,' said Hannah Yardley, Chief People and Culture Officer at Achievers. 'With the right strategy, tools, and culture in place, companies can use recognition to close today's connection gap, unlocking the full potential of their business and their people.' Article content As organizations fight to retain top talent and build a resilient company culture in today's volatile workplace, the message is clear: connection is the cure to disconnection, and recognition isn't an optional feel-good gesture, but an essential cultural anchor. Article content . Article content Article content Article content Article content
