Mexican oil output could return to 2 million barrels per day by about 2022 if the next government pursues plans to auction off development blocs to private investors, Energy Minister Pedro Joaquin Coldwell announced. Mexico will elect a new president on July 1 but the front-runner in opinion polls, leftist Andres Manuel Lopez Obrador, has threatened to delay opening up the energy sector to private investment.
The driver of a white rental van who is alleged to have “deliberately” run down pedestrians along a northern stretch of Yonge St. in the Canadian city of Toronto on Monday, killing 10 and injuring 16, has been identified as a 25-year-old man from Richmond Hill, a small town close to the metropolis.
Brazil has secured World Trade Organization backing to press its claims against Canada in a dispute over what it says are unfair subsidies for Bombardier Inc.’s CSeries jets, a preliminary WTO ruling published this week showed.
The ministers leading the renegotiation of the North American Free Trade Agreement (NAFTA) could meet again on Thursday in Washington as they push for quick progress, Mexican Economy Minister Ildefonso Guajardo advanced. Guajardo said he had spoken to Canadian Foreign Minister Chrystia Freeland on Monday and would talk to U.S. Trade Representative Robert Lighthizer to see about agreeing a trilateral meeting in Washington on Thursday.
Facebook has suspended a Canadian data firm that played a key role in the campaign for the UK to leave the EU. The social media giant said AggregateIQ (AIQ) may have improperly received users' data. It cites reported links with the parent company of Cambridge Analytica (CA), the consultancy accused of improperly accessing the data of millions.
The world’s financial leaders rejected protectionism on Tuesday and urged “further dialogue” on trade, but failed to diffuse the threat of a trade war days before U.S. metals tariffs take effect and Washington is to announce measures against China. Finance ministers and central bankers of the world’s 20 biggest economies, which represent 75% of world trade and 85% of global gross domestic product, discussed trade disruptions as a risk to growth at a two-day meeting.
Canadian company Dr. Dobias Natural Healing has acquired Friend of the Sea Certification for its FeelGood Omega-3 product, an all-natural calamari oil sourced from Japanese flying squid, jumbo flying squid and South Atlantic short-fin squid, fished in South East Pacific Ocean (FAO Area 87).
Some countries are now likely to be spared from planned tariffs on metals advocated by U.S. President Donald Trump. White House sources said Trump's controversial tariff plan could be put into action at a signing ceremony on Thursday afternoon.
U.S. President Donald Trump said on Monday the U.S. is not backing down on its decision to impose 25% tariffs on steel imports and 10% tariffs on imported aluminum products. Before a White House meeting with Israeli Prime Minister Benjamin Netanyahu, Trump suggested Mexico and Canada could be exempted from the planned tariffs if a new and “fair” North American Free Trade Agreement (NAFTA) is reached.
The Canadian government plans to open free trade talks with the four-nation Mercosur trading bloc in South America at a time when the future of NAFTA is facing increasing uncertainty. Canada sends around 75% of its goods exports to the United States and is looking for new markets to reduce the reliance on its southern neighbor.