By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- As United States President Donald Trump spoke at the World Economic Forum at Davos, Switzerland, on Wednesday, he repeated his demand that Greenland be turned over to the U.S. Also, Trump accused Canada of not being grateful towards the U.S., and he criticized Prime Minister Mark Carney for not expressing such gratitude in his speech on Tuesday.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- When Prime Minister Carney took to the podium at Davos on Tuesday, he provided a pragmatic assessment of current geopolitics. In signaling a major shift in Canadian foreign policy, Carney said, “a country that cannot feed itself, fuel itself or defend itself has few options. When the rules no longer protect you, you must protect yourself.” He added, “In a world of great power rivalry, the countries in between have a choice: to compete with each other for favour, or to combine to create a third path with impact.”
- The European Parliament is to announce on Wednesday it’s suspending the trade deal between the U.S. and the European Union that was signed in July. The move comes as Trump continued to demand Greenland and threatened to slap tariffs on any countries that oppose him. U.S. Commerce Secretary Howard Lutnick warned that Trump will retaliate should the US$1.9 trillion deal be suspended.
- While Canada’s industrial product price index was down 0.6 per cent in December from November, on a year-over-year basis the IPPI was up 4.9 per cent year, Statistics Canada reported on Wednesday. Also, StatCan said the raw materials price index rose 0.5 per cent from November to December and was up 6.4 per cent year-over-year.
