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Global Markets: U.S. bans sales to Chinese telecom ZTE

By Commodity News Service Canada

WINNIPEG, April 17 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– The United States Commerce Department has imposed a seven-year ban on U.S. companies selling parts and software to Chinese telecommunications company ZTE Corp. The move was seen as escalating tensions in the ongoing trade dispute between the two countries.

– The Alberta government introduced legislation on Monday that, if passed, would allow the province to restrict oil and gas exports to British Columbia. The bill is seen as retaliation to B.C.’s opposition to the Trans Mountain pipeline expansion, as it could lead to shortages and price increases in B.C.

– Cuban president Raul Castro is set to step down this week, creating some uncertainty over the future direction in the Caribbean nation.

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