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‘Associate’ EU membership for Canada not a ‘short-term’ project: expert
Source: Global News Politics
Date: 2026-10-31 14:54:14.0
Tags: [National, Trade, Economy, Industry, Defence]Prime Minister Mark Carney and European Commission President Ursula von der Leyen concluded a summit in Montreal outlining a timeline to negotiate a new "Canada-EU Alliance for the Future" by the 2027 EU-Canada Summit. Ottawa and Brussels are working toward establishing Canada as the European Union's first "associate member," pursuing deeper economic, industrial, supply chain, and defense integration. The joint statement includes plans to create a new Canada-EU business council, study how to increase liquefied natural gas (LNG) exports to Europe, and develop a transatlantic data cable. While top EU officials aim to conclude negotiations during European Council meetings in June 2027 following upcoming European elections, the initiative faces political friction from member states such as Germany and requires ultimate approval from all 27 EU member states as well as the House of Commons.
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Canada finding 'solutions' on EU carbon tariff threat: Carney
Source: CBC Politics
Date: 2026-10-30 21:41:25.0
Tags: [National, Trade, Economy, Environment, Climate, Industry]Prime Minister Mark Carney announced progress at the Canada-EU summit in Montreal regarding the European Union's pending carbon border adjustment mechanism (CBAM), which threatens an estimated $2.8 billion in annual Canadian energy-intensive exports like iron ore, steel, aluminum, and cement. Canada's ambassador-designate to the EU, Jonathan Wilkinson, confirmed that diplomatic negotiations are advancing toward having the European Union officially recognize Canada's national and industrial carbon pricing systems. Full implementation of the EU tariff is scheduled for 2034, with compliance reporting requirements slated to take effect by September or October 2027.
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Staring down a $40M tariff bill, this American importer is suing Trump to end some tariffs on Canada
Source: CBC Politics
Date: 2026-10-30 08:00:00.0
Tags: [National, Trade, Economy, Agriculture, Industry]The U.S. food distributor Gellert Global Group is suing the Trump administration in the U.S. Court of International Trade to overturn a 50 per cent tariff bill estimated at $40 million US on Canadian dairy and food imports. Filed by the Liberty Justice Center, the lawsuit challenges the administration's reliance on Section 338 of the U.S. Tariff Act (Smoot-Hawley Act), arguing the executive branch lacks the statutory authority to impose sweeping punitive tariffs under the guise of foreign trade discrimination. The disputed trade actions affect approximately $80 million US in annual Canadian cheese imports, including products from Mariposa Dairy in Lindsay, Ontario, while domestic dairy processors face supply shortages and potential permanent loss of commercial shelf space.
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A Plan to Protect Ontario
Source: Ontario - Ministry of Finance
Date: 2026-10-29 18:10:00.0
Tags: [Ontario, Economy, Taxation, Finance, Trade, Industry]Ontario Minister of Finance Peter Bethlenfalvy released the 2026 Ontario Economic and Fiscal Review: A Plan to Protect Ontario, projecting a deficit of $16.9 billion in 2026-27 and a return to a balanced budget in 2029-30. The fiscal plan features an $8 billion Ontario Competitiveness Tax Cut tied to the federal Productivity Mega Deduction, an $8.7 billion Canada-Ontario action plan targeting the steel, automotive, and critical minerals sectors, and nearly $30 billion in cumulative tariff relief and business supports implemented since April 2025. Additionally, the government committed to streamlining 35 to 50 percent of the province's 375 business-facing permits by the end of 2028 and restoring capital expenditures as eligible under the Ontario Research and Development Tax Credit and Ontario Innovation Tax Credit to provide over $50 million in tax support over three years.
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Stelco must recall laid off workers ‘immediately,’ Joly says in new letter
Source: Global News Politics
Date: 2026-10-29 14:04:23.0
Tags: [National, Ontario, Industry, Labour, Trade]Federal Industry Minister Mélanie Joly issued a letter on October 29, 2026, demanding that parent company Cleveland-Cliffs and Stelco immediately recall approximately 500 workers laid off at the Hamilton steel plant, or face potential legal action under Section 39 of the Investment Canada Act that could lead to forced divestiture. Joly rejected an interim compliance report submitted by Stelco on October 26 as unsatisfactory. Stelco initiated the layoffs in early October due to reduced operations, offering alternative positions at its Lake Erie facility, which the United Steelworkers union notes has only accommodated about 40 of the affected employees.
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Joly says she will meet with Stelco owner if company gives 'concrete' plan to bring workers back
Source: CBC Politics
Date: 2026-10-29 13:55:47.0
Tags: [National, Ontario, Economy, Trade, Labour, Industry]Federal Industry Minister Mélanie Joly issued a letter to Paul Simon, president of Stelco, stating she will only meet with the company and its American parent firm, Cleveland-Cliffs, if they provide a concrete plan to immediately recall 300 to 350 laid-off workers at the Hamilton steel plant. The dispute follows recent layoffs and public remarks by Cleveland-Cliffs CEO Lourenco Goncalves regarding the rationale behind the 2024 acquisition. Minister Joly is evaluating potential legal action for non-compliance with undertakings under the Investment Canada Act, which require maintaining unionized employee levels at 2024 figures through 2029.
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U.S. steel CEO's 'confessions' for buying Stelco prompted government to call its lawyers: industry minister
Source: CBC Politics
Date: 2026-10-28 16:11:32.0
Tags: [National, Ontario, Industry, Labour, Trade, Economy]Federal Industry Minister Mélanie Joly stated that department lawyers were consulted following public comments by Cleveland-Cliffs CEO Lourenco Goncalves regarding the acquisition of Hamilton-based steelmaker Stelco. Goncalves admitted in a media interview that Cleveland-Cliffs purchased Stelco in 2024 specifically to prevent it from undercutting U.S. production facilities, prompting Ottawa to review potential legal consequences under the Investment Canada Act. The federal government previously issued a 15-day ultimatum to Cleveland-Cliffs demanding the reversal of announced layoffs at Stelco to maintain unionized employment levels agreed upon through 2029, threatening court action that could include financial penalties or forced divestment.
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Canada not near trade deal with U.S. before midterms, Carney says
Source: Global News Politics
Date: 2026-10-28 15:11:10.0
Tags: [National, Trade, Economy, Industry]Prime Minister Mark Carney stated that the federal government is not close to reaching a trade agreement with the United States ahead of the November 3 midterm elections. Talks recently resumed at the political level led by Canada-U.S. Trade Minister Dominic LeBlanc, following an August breakdown when negotiations collapsed after the U.S. pushed for restrictions on Canada's trade independence, French language requirements, and its auto sector. In response to stalled talks, U.S. President Donald Trump implemented 50 per cent tariffs on Canadian products, prompting dollar-for-dollar retaliatory tariffs from Ottawa, though discussions are now focusing on easing duties on steel and autos.
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Province Announces $8 Billion Ontario Competitiveness Tax Cut to Support Investment and Create 30,000 Jobs
Source: Ontario - Ministry of Finance
Date: 2026-10-28 14:08:00.0
Tags: [Ontario, Taxation, Economy, Finance, Trade, Industry]The Ontario Ministry of Finance announced the $8 billion Ontario Competitiveness Tax Cut as part of its multi-year Tax Action Plan to counter U.S. tariffs and lower business investment costs. Administered as the provincial counterpart to the federal Productivity Mega Deduction, the policy allows eligible businesses to immediately write off 100 per cent of capital investments in assets such as fibre-optic cables, software, aircraft, machinery, and patents. The measure is projected to drive at least $11 billion in new capital investment, add $6 billion to the provincial GDP, and support the creation of 30,000 new jobs over five years. Combined with prior initiatives from Budget 2026, total business tax relief will exceed $12 billion over five years, reducing Ontario's Marginal Effective Tax Rate to 3.6 per cent.
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The owner of Ace Liquor and Spiritleaf raises its bet on U.S. cannabis, as its manufacturing arm faces a strategic review
Source: Alberta - Edmonton Journal (Legislature & Capital)
Date: 2026-10-28 11:00:16.0
Tags: [Alberta, British Columbia, Economy, Industry, Labour, Trade]Edmonton-based retailer SNDL Inc., owner of Ace Liquor, Value Buds, and Spiritleaf, is conducting a strategic review and weighing the potential sale of its unprofitable Canadian cannabis production assets while exiting the dried flower business. The company reported a $52-million write-down and a 28 per cent year-over-year sales drop in its weed production segment, alongside cutting its workforce at its Kelowna, British Columbia manufacturing facility by more than 30 per cent. Simultaneously, SNDL invested $60.8 million into the United States market, acquiring approximately a 92 per cent stake in a partnership controlling Parallel, an American cannabis grower and retailer operating over 50 locations across Florida, Texas, and Massachusetts.
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Stelco owner says he could sell plant next year after becoming 'persona non grata in Canada'
Source: CBC Politics
Date: 2026-10-27 23:34:42.0
Tags: [National, Ontario, Trade, Labour, Industry]Cleveland-Cliffs CEO Lourenco Goncalves announced that he is willing to sell the Hamilton-based steel plant Stelco next year following a legal dispute with the federal government over Investment Canada Act obligations. Federal Industry Minister Mélanie Joly threatened legal action and potential monetary penalties or divestment after Stelco announced 300 to 350 layoffs in September, violating undertakings to maintain unionized staffing levels at 2024 baselines through 2029. While Cleveland-Cliffs maintains it is in full compliance and that the cuts are necessary due to U.S. steel tariffs, Minister Joly stated that potential buyers are already interested in Stelco's Canadian assets.
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United Arab Emirates, Canada to share details of strategic partnership today
Source: CBC Politics
Date: 2026-10-27 12:29:28.0
Tags: [National, Trade, Economy, Industry]Prime Minister Mark Carney hosted Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, in Ottawa to finalize details of a strategic partnership and cement trade ties between Canada and the United Arab Emirates. The countries previously concluded negotiations on a free trade agreement in a record 47 days, following an earlier visit by Prime Minister Carney where the United Arab Emirates pledged approximately $70 billion in investments in Canada.
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Cleveland-Cliffs says Stelco in 'full compliance' with commitments to Ottawa, wants to meet with Joly
Source: CBC Politics
Date: 2026-10-27 12:14:41.0
Tags: [National, Ontario, Trade, Labour, Industry, Economy]Ohio-based parent company Cleveland-Cliffs announced that Stelco is in full compliance with its 34 undertakings under the Investment Canada Act, following a demand letter from Industry Minister Mélanie Joly giving the company a 15-day deadline to reverse 300 to 350 layoffs in Hamilton and 50 layoffs at the Lake Erie Works in Nanticoke. Despite Cleveland-Cliffs citing U.S. tariffs and the need to ensure company survival for the cutbacks, Joly rejected the rationale and stated that market changes do not relieve the company of its binding commitments. Cleveland-Cliffs requested a meeting with Minister Joly and CEO Lourenco Goncalves to discuss resuming full employment for the affected workers, though the minister has not yet responded.
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Canada-U.S. trade talks ‘moving quickly’ at political level ahead of midterms: sources
Source: Global News Politics
Date: 2026-10-26 20:43:28.0
Tags: [National, Trade, Economy, Industry]Canada-U.S. trade talks led by Canada-U.S. Trade Minister Dominic LeBlanc are moving quickly at the political level ahead of the U.S. midterm elections on November 3, 2026, though sources express skepticism regarding a finalized deal. Prime Minister Mark Carney stated that Canada maintains strict red lines regarding sovereignty over independent trade agreements and auto/steel tariff structures, declining the previous August proposal. Meanwhile, U.S. President Donald Trump has adjusted specific tariffs—lifting duties on corrugated paper, plastic boxes, and certain agricultural machinery requested by U.S. Senator Susan Collins while imposing new 50 per cent tariffs on sewage sludge and municipal waste alongside duties on cocoa powder, paints, and vinyl flooring.
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N.S. government announces funding to grow boatbuilding industry
Source: Nova Scotia - Halifax & Regional News
Date: 2026-10-26 19:55:08.0
Tags: [Nova Scotia, Economy, Industry, Trade, Defence, Fisheries]The Nova Scotia government is investing over $350,000 from its Community Economic Development Fund into the Nova Scotia Boatbuilders Association to help local boatbuilders and repair businesses expand into new markets. The funding will be used to promote local companies at trade shows, in trade publications, and through online communications and strategic partnerships. Established in 1998, the Nova Scotia Boatbuilders Association aims to diversify the industry beyond the domestic fishing boat market, helping local firms compete internationally for naval contracts and meet national defence priorities.
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Canada-U.S. trade talks intensifying but wide gap remains, sources say
Source: CBC Politics
Date: 2026-10-26 17:30:50.0
Tags: [National, Ontario, Trade, Economy, Industry]Trade discussions between Canada and the United States have intensified amid the U.S. midterm elections, though Canadian government sources and chief trade negotiator Janice Charette emphasize that a deal is not imminent and a wide gap remains on key elements. U.S. President Donald Trump and National Economic Council Director Kevin Hassett have suggested that progress is being made toward an agreement, while the White House recently removed certain tariffs on Canadian goods to assist U.S. Senator Susan Collins' campaign in Maine. Meanwhile, Ontario Premier Doug Ford stated that a fair deal protecting steelworkers, autoworkers, and manufacturing workers would prompt him to restore American alcoholic beverages to Liquor Control Board of Ontario (LCBO) shelves.
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High Liner Foods to be bought by Umios in deal valued at $804 million
Source: Nova Scotia - Halifax & Regional News
Date: 2026-10-26 15:40:21.0
Tags: [Nova Scotia, Economy, Industry, Trade, Fisheries]Nova Scotia seafood processor High Liner Foods Inc. has signed an agreement to be acquired by Japanese company Umios Corp. in a transaction valued at $804 million, paying $27 per share in cash. Under the deal, which requires 75 per cent shareholder approval and a court-approved plan under the Nova Scotia Companies Act, Umios will establish High Liner Foods as the core platform for its North American business while maintaining its headquarters in Nova Scotia, its workforce, and operations. Thornridge Holdings Ltd., holding a 41.4 per cent stake in High Liner, has agreed to support the transaction, which is expected to close in early 2027 following a December shareholder vote.
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Carney’s Turkish defence tango: A dance of dollars, drones and overcoming distrust
Source: CBC Politics
Date: 2026-10-25 20:01:24.0
Tags: [National, Trade, Defence, Industry, Technology]Prime Minister Mark Carney announced a new strategic trade and defence partnership between Canada and Turkey during a visit to Istanbul and Ankara, aiming to reduce Canadian procurement reliance on the United States. The agreement follows the 2024 lifting of a de facto Canadian arms embargo—which had been imposed after Wescam camera equipment meant for NATO operations in Syria was illicitly diverted to Azerbaijan—and establishes that future military exports will undergo strict case-by-case permit reviews. Turkish officials and private companies, including drone manufacturer Baykar, have also expressed interest in making direct investments in Canada's aerospace and defence manufacturing sectors.
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Trump to exempt some Canadian products from tariffs amid midterm pressure
Source: CBC Politics
Date: 2026-10-23 18:44:33.0
Tags: [National, Trade, Economy, Agriculture, Industry]U.S. President Donald Trump's administration is poised to lift 50 per cent tariffs—originally imposed in August in retaliation for Canadian countermeasures—on specific Canadian products, including paper and plastic items, refrigeration and packaging equipment, agricultural machinery, and seaweed and algae products. U.S. Republican Senator Susan Collins of Maine announced the impending exemptions following intense lobbying by border-state businesses and agricultural producers, such as Maine blueberry growers reliant on Canadian harvesting boxes and cardboard totes, who faced acute supply shortages and political pressures ahead of the November U.S. midterms. Prime Minister Mark Carney stated that Canada remains open to a mutually beneficial trade agreement with the U.S. that protects Canadian interests, noting the government is under no deadline to rush a deal.
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Ottawa gives Stelco 15 days to reverse Hamilton layoffs or face lawsuit
Source: Global News Politics
Date: 2026-10-22 14:16:39.0
Tags: [National, Ontario, Industry, Labour, Trade]Federal Industry Minister Melanie Joly issued a 15-day ultimatum to Stelco's U.S. parent company, Cleveland-Cliffs, demanding the reversal of layoffs affecting up to 500 workers at the Hamilton steel plant or face federal legal action. The government asserts that the layoffs violate a 2024 binding agreement stipulating that the average aggregate annual full-time equivalent employment of unionized employees in Canada would remain at 1,766 (100% of the baseline level ending June 30, 2024) through 2029. While court action could potentially force the company to sell its Canadian operations, senior government sources acknowledge that judicial timelines may be too slow to immediately protect current staffing levels in Hamilton.
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