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Global Markets: A war of words brewing between Canada, China

By Commodity News Services Canada

WINNIPEG, Jan. 15 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– A war of words continues to brew between Canada and China following a Chinese court handing a Canadian the death sentence after being retried for drug smuggling on Monday. Later, Canadian Prime Minister Justin Trudeau accused China of arbitrarily sentencing Robert Schellenberg after he was initially sentenced to 15 years in prison. China shot back by indirectly suggesting Canada arbitrarily arrested Huawei Chief Financial Officer Meng Wanzhou in December. Meng is currently out on bail pending an extradition hearing. As well, both countries issued travel warnings regarding each other.

– United Kingdom Prime Minister Theresa May is expected to lose a Parliamentary vote on her Conservative government’s Brexit deal on Tuesday. It’s believed at least 70 Conservative MP’s will join the Opposition in voting against the deal that would see the U.K. leave the European Union. Those MP’s voting against Brexit range from opposing the U.K. leaving the EU. to those who believe May’s deal short changes the U.K.

– In a tweet on Tuesday, United States President Donald Trump warned a new caravan of migrants forming in Central America to march toward the U.S./Mexican border. Trump tweeted only a wall would stop the migrants. This is the latest move in the political standoff between Trump and Democrats. Trump has been demanding more than US$5 billion be allocated for a wall along the border in a new spending bill. Democrats, who control the House of Representatives, oppose the wall and offered US$1.5 billion for enhanced border security. The standoff has resulted in a partial shutdown of the U.S. government, which is now in its 25th day.

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