In this edition:
- Trump isn’t extending CUSMA trade deal, so what happens now?
- Welland launches Virtual City Hall
- Despite online suggestion, there is no active plan for a data centre in Fort Erie, says property owner
- NPCA extends funding for agricultural land restoration
- Grocery prices show mixed picture in May
- Shipping rates soar as retailers race to beat looming Trump tariffs
- Tesla sales rose last quarter in possible sign that Musk backlash is over
- Focus on Trends
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Picture credit: Office of the President of the United States
Trump isn’t extending CUSMA trade deal, so what happens now?
The Trump administration surprised no one with its long-expected announcement Wednesday that the U.S. would not join Canada and Mexico in extending the free trade deal between the three countries.
Where things go from here, however, with renegotiating the Canada-United States-Mexico Agreement (CUSMA) is anyone’s guess.
One thing is certain: the deal remains in effect while the negotiations happen, as it doesn’t expire for another 10 years.
Picture credit: City of Welland
Welland launches Virtual City Hall
The City of Welland has launched Virtual City Hall, a secure online platform giving property owners 24-hour access to tax and water account information. Users can review balances, view billing and payment history, access account details, and pay bills online by credit card for the first time, while e-billing users can also download and print bill copies at no cost.
Picture credit: elbanco / Adobe Stock
Despite online suggestion, there is no active plan for a data centre in Fort Erie, says property owner
There are no active plans for a data centre in Fort Erie despite online buzz and a webpage that would suggest otherwise.
As of Monday, Velocity1, a Mississauga-based boutique firm that offers strategic advisory to businesses, has a page on its website that pitches a 160-hectare (400-acre) parcel of land in Fort Erie as an “unparalleled opportunity for data centre development.”
Picture credit: oticki / Adobe Stock
NPCA extends funding for agricultural land restoration
The Niagara Peninsula Conservation Authority has received extended funding through the Resilient Agricultural Landscape Program – Marginal Lands Initiative to support habitat restoration projects on farmland in the Niagara Peninsula watershed. Eligible projects include tree and shrub planting, wetland restoration, watercourse buffers and pollinator habitat on marginal cropland, with up to 90 per cent of approved project costs covered.
Photo credit: Andrii / Adobe Stock
Grocery prices show mixed picture in May
New Statistics Canada retail price data for May showed sharp month-over-month increases for several grocery staples, including whole chicken, which rose from $6.49 to $8.52 per kilogram, grapes, which climbed from $7.58 to $9.51 per kilogram, and strawberries, which rose from $3.15 to $4.41 for 454 grams. Other items eased, with beef striploin falling from $42.42 to $35.30 per kilogram, butter dropping from $5.99 to $5.64 for 454 grams, and margarine declining from $7.33 to $6.66 for 907 grams.
Picture credit: ekkaluck / Adobe Stock
Shipping rates soar as retailers race to beat looming Trump tariffs
A glut of early wholesale orders for everything from holiday decorations to home furniture has propelled maritime shipping costs to four-year highs as a result of tariff uncertainty and the Iran war, with potential repercussions for consumers.
Industry specialists say retailers and importers — especially in the United States — are rushing to book shipments to get ahead of a potential fresh round of U.S. tariffs on scores of countries that’s expected near the end of July.
Picture credit: MargJohnsonVA / Adobe Stock
Tesla sales rose last quarter in possible sign that Musk backlash is over
Tesla car sales rose over the past three months for the second straight quarter in a sign the worst of the damage from boycotts and rivals stealing market share could be behind it.
The electric vehicle maker run by Elon Musk reported on Jul. 2 that it delivered 480,126 of cars, much higher than the 384,122 from a year ago, as Europeans furious at Musk’s embrace of far-right political candidates began buying again.
Focus on Trends
Canada’s defence boom is creating a three-speed SME divide
Mathieu Galliot, BDC
Demand for defence SMEs is rising, but their ability to scale is shaped by capacity constraints, financing gaps and complex requirements. This points to a three-speed SME landscape: firms specialized in defence working to scale up capacity to meet demand; firms balancing a predominantly civilian market with growing defence opportunities; and firms preparing to enter the sector.
This reflects a growing divide across the ecosystem, with capacity constraints, financing gaps and readiness shaping which firms are able to participate in the sector’s growth.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
