Global Markets: Feds announce deal for Churchill rail line

By Commodity News Service Canada
WINNIPEG, May 31, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
A tentative deal has been made for the ownership of
the Port of Churchill and the rail line to Churchill. Two
groups representing northern communities and First Nations
– One North and Missinippi Rail LP – joined together with
Fairfax Financial Holdings and AGT Food and Ingredients to
buy the rail line and port from Omnitrax. The deal was
announced late Wednesday afternoon by the federal

government. Specifics of the deal, including the financial
details and a timeline, were not announced.
The Trump Administration announced Thursday that it is
imposing tariffs on steel and aluminum imports from Canada,
the European Union and Mexico. The decision came hours
before temporary exemptions were set to expire. United
States President Donald Trump imposed 25 per cent duties on
imported steel, and 10 per cent tariffs on aluminum in
March, but temporarily exempted Canada and Mexico.
A German magazine has reported the Trump is focused on
pushing German-made cars out of the country. Trump
supposedly told French President Emmanuel Macron he wanted
to stick to his trade policy long enough that Mercedes-Benz
cars were no longer cruising through New York; news that
dented shares prices for BMW, Daimler and Volkswagen.

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