By Commodity News Service Canada
July 25 (CNS Canada) — The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump pledged US$12 billion in aid to farmers hurt by the fallout of the U.S.-China trade war. Some Republican Senators and members of the House are slamming it as “welfare”. The head of the American Farm Bureau Zippy Duvall called the package a “welcome measure” but also warned of dire consequences should the trade wars continue to hamper U.S. agricultural exports and pushed for a swift end to tariffs affecting agriculture.
– European Commission President Jean-Claude Juncker is in Washington, D.C., today for talks with United States President Donald Trump. Trump has called on the European Union to drop all tariffs, barriers and subsidies.
– Toronto Mayor John Tory said he needs more powers to properly govern. Like many municipalities in Canada, the Toronto mayor has only one vote alongside all city councillors on issues that come before city hall. In the U.S., many cities have what’s called “strong mayors” where the mayor has executive powers to appoint and fire department heads, and veto power over council decisions.