WINNIPEG, May 7 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– After some doubt was raised as to whether Chinese Vice Premier Liu He would attend trade talks in Washington this week, officials have confirmed Liu will be leading China’s delegation. The possibility of the vice-premier, and China’s top negotiator, not making the trip came after United States President Donald Trump recently threatened to hike tariffs on Chinese imports. Liu’s presence is said to be a signal as to how serious China is in making a deal with the U.S. to end the trade war between the world’s two largest economies. Talks are scheduled for May 8 and 9.
– Indications are the Canadian government will proceed with the Trans Mountain pipeline expansion. The official decision has been scheduled for June 18, but reports stated federal Liberal government will give the green light to the project. The C$9.3 billion expansion will almost triple the pipeline’s capacity to carry oil from Alberta to Vancouver for shipment overseas.
– The Green Party of Canada scored a by-election upset in the federal seat of Nanaimo-Ladysmith on Monday. Paul Manly will become the Green’s second MP after taking 37 per cent of vote. The Conservative candidate placed second with 25 per cent, followed by the NDP at 23 and the Liberals lagged behind 11. The by-election win comes six months ahead of October’s federal election.