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G7 Statement on Shared Concerns: Disconnect with the Economic Models of the United States and China. Possible Impacts on Industry and Biotechnology Security.

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Finance ministers and central bank governors from the Group of Seven (“G7”) democracies prepared a summary document to paper over their respective differences while meeting in Banff, Alberta this past month in preparation for the formal G7 meeting to take place in Kananaskis in June. Officials called for a common understanding of how "non-market policies and practices" undermine international economic security. The statement did not mention President Trump nor the tariffs imposed internationally but clearly it will need to be front and centre at the meeting. Nor did the statement address China, the other world leader in economic terms, and the concerns of massive state subsidies and its export-driven economic model. The G7 statement called for an analysis of market concentration and international supply chain resilience. "We agree on the importance of a level playing field and taking a broadly coordinated approach to address the harm caused by those who do not abide by t...
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Increased Steel and Aluminium Tariffs to 50% by US on Canada: Immediate Loss of Half of all Canadian Steel and Aluminium Sales Exports into the US. Integrated Economies between the US and Canada a Myth in Certain Sectors

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  Technological advancements in the manufacture of steel have made production more efficient and many jobs were replaced by automation. In the period of time between 1960 to today, American steel mills have decreased from an average of 700,000 workers to just 83,000 and within the last 40 years, the productivity of labour has increased more than five times from approximately 10 man-hours per finished ton to under 2. During that time, the US economy shifted from manufacturing to more service-focussed businesses. After being the largest producer in the world, the US has become the largest steel importer in the world, while only producing a small percentage of the overall steel output  https://blog.boydmetals.com/the-past-present-and-future-of-the-american-steel-industry#:~:text=Slowly%2C%20American%20factories%20that%20were,700%2C000%20workers%20to%20just%2083%2C000 .  President Trump’s decision to double tariffs on both steel and aluminium to 50% will result in an injury t...
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Fading Investment Opportunities in Canada’s Oil and Gas Industry with Excessive Dependence on US Refineries and Excessive Regulation: US Shale Oil and Burgeoning US Energy Independence

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  Together the US and Canada produce more oil than anywhere else on Earth, according to SP Global.  President Trump, who took office on January 20, 2025, for his second term, had planned to charge a 25% tariff on Mexican crude and a 10% levy on Canadian crude beginning in March, which has now been removed. Nonetheless, the threat of tariffs exposes Canada’s vulnerability.  Canada, the biggest oil supplier to the U.S., exports some 4 million barrels per day (bpd) of crude into the U.S., 70% of which is processed by Mid-Continent refiners. A barrel of Western Canada Select (WCS) heavy crude in Alberta has been reported to trade at approximately $13.00 below Western Texas Intermediate (WTI), as compared with Mars sour, a US medium sour crude produced along the US Gulf of Mexico (America), at approximately $2.00 above WTI. The US continues to be the largest source of Canada’s imported crude oil. In 2023, 72.4% of Canada’s oil imports originated from the US, compared to 72.0% ...
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Competition Bureau announces Market Study into Competition in the Domestic Passenger Airline Industry

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  On July 29, 2024, the Competition Bureau provided a news release that it is officially launching its market study of competition in domestic air passenger services. Specifically, the Bureau plans to examine three key topics:  • the state of competition in Canada’s airline industry;  • the barriers to entry and expansion that exist in the domestic industry; and  • the impediments to Canadians seeking to make informed choices for air travel.  The link to the news release is here: https://www.canada.ca/en/competition-bureau/news/2024/05/competition-bureau-to-study-competition-in-canadas-airlines-industry.html. The market study is likely based on the new powers provided by amendments to the Competition Act that took effect in December, 2023, which provides the Commissioner of Competition with the power to seek a court order compelling companies to produce volumes of documents and electronic information in support of market studies, which are intended to include in...
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