Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
– United States President Donald Trump confirmed on Friday he will meet with Chinese President Xi Jinping in South Korea on Oct. 31 to discuss trade issues, including China’s refusal to purchase U.S. soybeans. In an interview with Fox Business Network, Trump said his proposed 100 per cent tariffs on Chinese imports would be “unsustainable” but claimed that China forced him to consider the measure. U.S. Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng spoke on Friday, discussing ongoing trade negotiations between the two countries, CNBC reported. An analysis from Reuters revealed global companies have lost US$21 billion to US$23 billion due to Trump’s tariffs this year alone and may lose US$15 billion in 2026.
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ICE Midday: Canola steady to higher
Glacier FarmMedia – Canola futures on the Intercontinental Exchange were steady to higher at midday Monday, with the largest gains…
– Canadian Foreign Minister Anita Anand met Chinese counterpart Wang Yi in Beijing on Friday to discuss the canola, pea, electric vehicle and seafood trade impasses between the two countries. Both countries announced their willingness to meet with each other and enhance communication in the near future. A Chinese official said last month that China was willing to drop its tariffs on Canadian canola, peas and seafood in exchange for Canada dropping its levies on Chinese electric vehicles.
– The ceasefire in Gaza between Israel and Hamas was threatened during the weekend after the former launched air strikes on Sunday and killed 26 people. The attack was prompted by Hamas killing two Israeli soldiers. However, Israeli officials said the ceasefire was restored on Monday as mediators from the U.S. and Arab nations will meet in Israel to discuss the truce. U.S. Vice President JD Vance will also visit Israel on Tuesday.
– Rodrigo Paz, a centrist, business-friendly senator, won Bolivia’s presidential runoff election on Sunday with 54 per cent of the vote. His main opponent, conservative Jorge (Tito) Quiroga, had 45 per cent of the vote. The Spanish-born Paz, who is the son of former President Jaime Paz Zamora, plans to end Bolivia’s fixed exchange rate, phase out generous fuel subsidies and reduce hefty public investment. The election also ended 20 years of rule by the left-wing Movement Towards Socialism party, which almost lost its party status in August parliamentary elections.
