WINNIPEG, Aug. 15 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump and Russian President Vladimir Putin will meet in Alaska today to discuss an end to Russia’s invasion of Ukraine. It will be the first face-to-face meeting between the two world leaders in six years. Trump said in a Fox News radio interview that he believes Putin “will make a deal” and if the meeting went well, would meet with him and possibly Ukrainian President Volodymyr Zelenskyy at a later date. Many observers think Putin will try to make demands which would result in Ukraine ceding territory or prohibiting Ukraine from NATO membership. It is believed Putin will also raise the topic of nuclear arms control at the meeting.
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– Statistics Canada reported today that manufacturing sales in June were up 0.3 per cent month-to-month to C$68.5 billion. It was the first time in four months the country saw a monthly rise in sales. Petroleum and coal sales jumped 11.8 per cent to C$6.8 billion in June, while the food product subsector gained 2.5 per cent at a record C$13.2 billion. The transportation equipment subsector dropped five per cent to C$10.5 billion in June, the lowest level since November 2022, as sales of motor vehicles were down 9.4 per cent and motor vehicle parts declined 2.8 per cent.
– China filed a complaint with the World Trade Organization on Friday over import restrictions on Canadian steel. In July, Canadian Prime Minister Mark Carney announced an additional 25 per cent tariff on steel melted and poured in China. Carney said this was done to protect Canada’s steel industry after the U.S. increased import duties to 50 per cent.
