Latest news with #TorontoRegionBoardofTrade
Calgary Herald
5 days ago
- Business
- Calgary Herald
'This is an opportunity': Federal energy minister says world is eying Canada's critical minerals
Article content Energy and Natural Resources Minister Tim Hodgson says he constantly hears from other countries that want to buy critical minerals from Canada, and that is presenting the country with an opportunity for economic growth. Article content 'At the G7 (meeting this month in Alberta), all the countries said they wanted to buy Canadian critical minerals,' he said at a Toronto Region Board of Trade event on Wednesday. 'Right now, at the NATO summit, what the prime minister is hearing is that all those countries want to buy our critical minerals. This is an opportunity for us.' Article content Article content Article content Hodgson said Canada needs to ensure it mines critical minerals, but also builds processing facilities so that it can share in some of the wealth created by products made from what it mines. The federal government is focused on ensuring Canada builds major projects quickly and responsibly, he added. Article content Article content Hodgson said Canada is standing at a unique moment in its history that is defined by 'instability.' Supply chains are 'being ripped apart,' climate change is advancing and Canada is in the midst of a 'devastating trade war ' with the United States, its closest trading partner. Article content Last week, the House of Commons passed Bill C-5, which he referred to as the One Canadian Economy Act because he said it would break down interprovincial trade barriers while also ensuring that major nation-building projects, such as mines, pipelines and other infrastructure, are built quickly and with the consent of affected communities. Article content Article content As part of that process, he said Prime Minister Mark Carney plans to hold a summit on July 17 with leaders from First Nations, Inuit and Métis communities to discuss some of the projects that will be fast-tracked. Article content Article content 'The goal here is to create certainty that catalyzes investment,' Hodgson said. Article content He said Canada also has an opportunity because it is unified in its resolve to grow its economy by working together despite the impending crisis brought on by the trade war. Article content 'This is a trade war we did not ask for, but it is a trade war we must win,' he said. Article content It was similar to the message that Ontario's Minister of Energy and Mines Stephen Lecce delivered when he introduced Hodgson at the event.
Yahoo
5 days ago
- Business
- Yahoo
'This is an opportunity:' Federal energy minister says world is eying Canada's critical minerals
Energy and Natural Resources Minister Tim Hodgson says he constantly hears from other countries that want to buy critical minerals from Canada, and that is presenting the country with an opportunity for economic growth. 'At the G7 (meeting this month in Alberta), all the countries said they wanted to buy Canadian critical minerals,' he said at a Toronto Region Board of Trade event on Wednesday. 'Right now, at the NATO summit, what the prime minister is hearing is that all those countries want to buy our critical minerals. This is an opportunity for us.' Hodgson said Canada needs to ensure it mines critical minerals, but also builds processing facilities so that it can share in some of the wealth created by products made from what it mines. The federal government is focused on ensuring Canada builds major projects quickly and responsibly, he added. Hodgson said Canada is standing at a unique moment in its history that is defined by 'instability.' Supply chains are 'being ripped apart,' climate change is advancing and Canada is in the midst of a 'devastating trade war' with the United States, its closest trading partner. Last week, the House of Commons passed Bill C-5, which he referred to as the One Canadian Economy Act because he said it would break down interprovincial trade barriers while also ensuring that major nation-building projects, such as mines, pipelines and other infrastructure, are built quickly and with the consent of affected communities. As part of that process, he said Prime Minister Mark Carney plans to hold a summit on July 17 with leaders from First Nations, Inuit and Métis communities to discuss some of the projects that will be fast-tracked. 'The goal here is to create certainty that catalyzes investment,' Hodgson said. He said Canada also has an opportunity because it is unified in its resolve to grow its economy by working together despite the impending crisis brought on by the trade war. 'This is a trade war we did not ask for, but it is a trade war we must win,' he said. Western Canada holds potential to become a 'critical minerals processing behemoth,' expert says Canada could play leading role as G7 strikes alliance to stockpile critical minerals It was similar to the message that Ontario's Minister of Energy and Mines Stephen Lecce delivered when he introduced Hodgson at the event. 'I think we can all agree that the stakes have never been higher,' said Lecce, who said he was there as part of Team Canada to champion good ideas. • Email: gfriedman@ Sign in to access your portfolio
CTV News
10-06-2025
- Business
- CTV News
More than half of GTHA residents not confident they can live comfortably in the region long term: survey
Sun sets on the Toronto skyline seen from the Gardiner Expressway on Wednesday, July 5, 2017. THE CANADIAN PRESS/Frank Gunn More than half of residents of the GTHA say they are not confident they will be able to live a comfortable life in the region in the long term, according to new polling commissioned by the Toronto Region Board of Trade. The online survey, released Tuesday, was conducted by Ipsos and polled 1,000 GTHA residents between May 9 and May 22. It found that only about 40 per cent of respondents are optimistic about their ability to live comfortably in the region long term. Even fewer, 24 per cent, said they felt confident that future generations will be able to afford to live and work in the Toronto region. 'While residents still believe in Toronto's economic promise, that optimism is fleeting. Half of those surveyed say they're not confident about the region's economic outlook over the next year,' the Toronto Region Board of Trade (TRBOT) said in a news release issued Tuesday. While most respondents rated their current financial status as excellent, good, or fair, about 72 per cent said they are concerned about their finances over the next two years. The survey found that only 34 per cent of respondents are confident that they will have good employment opportunities to earn more in the long run. The cost of housing was identified as the biggest barrier to job growth in the region, with 67 per cent of respondents identifying it as an issue, according to the survey. About 57 per cent identified traffic congestion as a barrier, while trade uncertainty and high taxes were each listed by 55 per cent of those surveyed. 'Respondents indicated they are looking to governments at all levels to create the conditions for economic growth through streamlined regulation and permitting, infrastructure investments, tax competitiveness, and workforce development,' TRBOT's news release continued. 'The Toronto Region Board of Trade is calling on governments and businesses alike to meet this moment with real action through its Stronger Starts Here campaign. The Board's Business Council of Toronto is engaging leaders across the region through this campaign to identify the most pressing barriers to productivity for businesses and chart a path forward.'
CTV News
10-06-2025
- Business
- CTV News
More than half of GTHA residents not confident they can live comfortably in the region long term: survey
Sun sets on the Toronto skyline seen from the Gardiner Expressway on Wednesday, July 5, 2017. THE CANADIAN PRESS/Frank Gunn More than half of residents of the GTHA say they are not confident they will be able to live a comfortable life in the region in the long term, according to new polling commissioned by the Toronto Region Board of Trade. The online survey, released Tuesday, was conducted by Ipsos and polled 1,000 GTHA residents between May 9 and May 22. It found that only about 40 per cent of respondents are optimistic about their ability to live comfortably in the region long term. Even fewer, 24 per cent, said they felt confident that future generations will be able to afford to live and work in the Toronto region. 'While residents still believe in Toronto's economic promise, that optimism is fleeting. Half of those surveyed say they're not confident about the region's economic outlook over the next year,' the Toronto Region Board of Trade (TRBOT) said in a news release issued Tuesday. While most respondents rated their current financial status as excellent, good, or fair, about 72 per cent said they are concerned about their finances over the next two years. The survey found that only 34 per cent of respondents are confident that they will have good employment opportunities to earn more in the long run. The cost of housing was identified as the biggest barrier to job growth in the region, with 67 per cent of respondents identifying it as an issue, according to the survey. About 57 per cent identified traffic congestion as a barrier, while trade uncertainty and high taxes were each listed by 55 per cent of those surveyed. 'Respondents indicated they are looking to governments at all levels to create the conditions for economic growth through streamlined regulation and permitting, infrastructure investments, tax competitiveness, and workforce development,' TRBOT's news release continued. 'The Toronto Region Board of Trade is calling on governments and businesses alike to meet this moment with real action through its Stronger Starts Here campaign. The Board's Business Council of Toronto is engaging leaders across the region through this campaign to identify the most pressing barriers to productivity for businesses and chart a path forward.'
Yahoo
11-03-2025
- Business
- Yahoo
Nearly two-thirds of small biz impacted by trade war: Survey
In trade wars, there are no winners. Especially when it comes to a small business. A survey by the Canadian Federation of Independent Business (CFIB) reveals nearly two-thirds of small firms are being negatively impacted by the uncertainty of the U.S-Canada tariff war. Based on 1,064 responses earlier this month, the survey revealed 62% of small companies are taking some sort of financial hit, about a quarter indicate no impact yet, while 12% are unsure how it will affect them. Tariffs threatened and imposed by U.S. President Donald Trump on Canadian goods and reciprocal measures by the Liberal government in Ottawa — as well as provincial actions — will hurt the economy across the country, said Simon Gaudreault, CFIB chief economist and vice president of research. 'It will have a negative impact on the Canadian economy, whether you are in Toronto or any other part of the country,' he said. 'We are too interconnected with the U.S.' In Toronto, a large segment of businesses rely on financial services, which Gaudreault calls a barometer of the overall economy. 'You're going to have a lot of investments that are not going to be made,' he said. 'You're going to have a lot things that are going to be put on pause. Jobs that maybe will be lost or new hires won't be made. All of this is going to impact our economy.' Gaudreault said a continuing trade war will plunge the Canadian economy into tougher times. 'Overall, for most businesses, this is going to be a very negative result. Most likely, we're going to see a recession in Canada if the trade war goes on.' While it is early days, Gaudreault said a recent CFIB questionnaire found very few small businesses have decided to close up shop or relocate as a vast majority of entrepreneurs look to pivot away from the U.S. market or American products. 'For a lot of businesses right now, they've been able to mitigate (the effects of tariffs),' he said. 'Certainly (they) have put a lot of things on hold, but they are not yet at a stage where the businesses are closing tomorrow or they're firing or laying off all of their workers.' Giles Gherson, president and CEO of Toronto Region Board of Trade, said in an emailed statement that the 'economic storm is still brewing' after Trump last week signed off on 25% tariffs on Canadian goods entering the U.S. which are not protected by the Canada-United States-Mexico Agreement. 'These measures will have punishing consequences for businesses, workers, and consumers on both sides of the border. Governments at all levels must now move swiftly and vigorously with immediate temporary measures to safeguard businesses directly affected by the U.S. tariffs and to buttress the resilience and self-reliance of our economy for the future.' Gherson added that the tariff threat has shown how complacent Canada has become on the country's own productivity. 'We need to go full-bore on economic growth, retool in a way we haven't since the post-war era.' Poilievre wants to impose 50% metal tariffs on U.S. after latest Trump threat Canada's dairy industry says tariffs less scary than threats to supply management Ontario eyes more trade with countries overseas in wake of U.S. tariffs
