Canadian Economy Surges on Export Growth but Falls Short of Forecasts
A surge in exports of energy, aircraft and pharmaceutical products helped propel Canada’s economy higher in the second quarter of this year, Statistics Canada said Thursday.
The economy rocketed to an annualized pace of 2.9 per cent in the period from April 1 through June 30, compared with a slightly revised annual pace of 1.4 per cent in the first three months of 2018, the agency said.
U.S. Trade Commission Kills Duties Placed on Canadian Newsprint
The U.S. International Trade Commission has overturned the duties imposed on Canadian newsprint by the U.S. Commerce Department earlier this year. The five commissioners voted unanimously Wednesday that imports from Canada of uncoated groundwood paper, used for newspapers, commercial printing and book publishing, do not injure U.S. industry.
The U.S. Commerce Department had imposed anti-dumping and countervailing duties of various levels on Canadian producers including Resolute Forest Product, Catalyst Paper Corp., Kruger Inc., and White Birch Paper.
Ontario to Cut Natural Gas Price on October 1
Premier Doug Ford says his government will remove the cost of the now-repealed cap-and-trade system from natural gas bills, but opposition critics say the Tory government is not telling people the true impacts of cancelling the system designed to fight climate change.
At an announcement hosted by a Milton, Ont., diner, Ford touted the change, saying it will save families $80 a year and small businesses will save $285 annually. The government has issued a directive to the Ontario Energy Board that will see the price of natural gas reduced by 3.3 cents per cubic metre starting on Oct. 1.