Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump said earlier today he would impose a 50 per cent tariff on goods from the European Union beginning on June 1. The European Commission declined to comment, saying that EU trade chief Maros Sefcovic and U.S. trade secretary Jamieson Greer will have a phone call later today. Trump also proposed a 25 per cent tariff on all Apple devices sold in the U.S. but manufactured elsewhere. Apple does not manufacture its devices in the U.S. It is also unclear whether the U.S. government can tariff a company.
Read Also
Global Markets: Retail sales down in May
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. –…
– Statistics Canada reported that retail sales rose 0.8 per cent in March at a total of C$69.8 billion. Sales were up in six of nine subsectors while sales at new car dealers increased by 5.2 per cent during the month. Core retail sales, which exclude gasoline stations, fuel vendors and motor vehicle parts and dealers, were up 0.2 per cent in March. StatCan also estimated a 0.5 per cent rise in retail sales for April.
– Canada Post said earlier this morning there will be no rotating strikes or national work stoppages for now and postal operations will continue despite the Canadian Union of Postal Workers being in a strike position. However, the CUPW, which represents 55,000 Canada Post employees, said they will refuse overtime work, describing it as a “legal strike action”. The union will also continue to review contract offers from the Crown corporation.
