The following is a glance at
the news moving markets in Canada and globally.
Canada will act to prevent the smuggling of cheap steel and
aluminum into the North American market to avoid new United
States’ tariffs on the metals, Prime Minister Justin Trudeau
announced Tuesday. Under the new measures, the Canada Border
Services Agency will gain new powers to stop companies that try
to dodge duties. Canada will also coordinate more closely with
its partners to strengthen border enforcement and meet more
steel and aluminum industries.
Canadian railway operators are currently seeing a lucrative
opportunity to transport more crude oil to the U.S. However the
need for long-term contracts and the pressure to move a surplus
of Canadian grains is making it a hard market to get into.
Canada currently moves about 95 per cent of its oil by pipelines
and analysts have predicted that railway operator Canadian
Pacific Railway will see a more than 60 per cent rise in the
volumes of crude it ships this year, while its rival Canadian
National Railway is being cautious about going all-in.
Cambridge Analytica whistleblower, Christopher Wylie, said
on Tuesday that Canadian company AggregteIQ worked on software
called Ripon which was used to identify Republican voters ahead
of the 2016 U.S. presidential election. Ripon, the town in which
the Republican Party was founded in 1854, was the name given to
a tool that let a campaign manage its voter database, target
specific voters, conduct canvassing, manage fundraising and
carry out surveys.