Glacier FarmMedia COVID-19 & the Farm

Global Markets: Trump mulling tariffs on U.S. auto imports

By Commodity News Service Canada
WINNIPEG, May 24, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
Alberta has refused to endorse the official statement
stemming from the western premiers meeting in Yellowknife
because it doesn’t include support for the Trans Mountain
pipeline. The final statement deals with issues such as
pharmacare and legalization of marijuana. Alberta deputy
premier Sarah Hoffman said without the wealth that would
flow from the expansion of the pipeline, all discussions on
such issues are moot.
Canada has blocked the proposed C$1.51 billion
takeover of construction company Aecon by a Chinese state
builder on national security grounds, underscoring rising
wariness of Chinese firms buying up assets in Western
countries. Aecon’s takeover by overseas investment and
financing arm of China Communications Construction Co. Ltd.
was scheduled to close in February, but was delayed after
Canada extended a national security review.
United States President Donald Trump ordered his
Commerce Department to consider a probe into whether car
and truck imports threaten U.S. national security, a move
that could lead the U.S. to slap fresh tariffs on foreign
vehicles. The move may further inflame tensions with
America’s biggest trading partners, adding to a series of
U.S. threats that have roiled financial markets and upset
traditional allies.

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