In this edition:
- “No matter what happens on Friday, Ontario is prepared for any outcome”
- Trump lowers expectations of trade deal with Canada, gives delay to Mexico
- Royal George rebuild is personal for NOTL’s Jon Taylor
- Welland rolls out downtown maintenance tricycles in beautification pilot
- Real GDP shrinks for second consecutive month
- Healthcare/retail lead May job creation, manufacturing/wholesale shed workers
- Focus on Canada-U.S. Business
Did you know you can get the GNCC’s Daily Update emailed to you? Click here to sign up.
The Honourable Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade | Picture credit: Brad Demers / GNCC
“No matter what happens on Friday, Ontario is prepared for any outcome”
At a GNCC Spotlight event on July 30th, the Honourable Vic Fedeli, Ontario Minister of Economic Development, Job Creation and Trade, reassured the crowd that whatever happened as tomorrow’s deadline for Canada-U.S. trade negotiations arrived, Ontario was ready.
Photo credit: Victor Moussa / Adobe Stock
Trump lowers expectations of trade deal with Canada, gives 90-day delay to Mexico
Donald Trump dampened expectations of a deal with Canada materializing at the last minute as his tariff deadline loomed Thursday — but the U.S. president did give a 90-day deadline delay to Mexico.
In a post on social media early Thursday morning, Trump said it will be very hard to make a deal with Canada after Prime Minister Mark Carney announced Wednesday Ottawa intends to recognize a Palestinian state.
Picture credit: Shaw Festival
Royal George rebuild is personal for NOTL’s Jon Taylor
Photo credit: Harold Stiver / Adobe Stock
Welland rolls out downtown maintenance tricycles in cleanliness and beautification pilot
The City of Welland, in partnership with the Job Gym and the Downtown Welland Business Improvement Area (WDBIA), is pleased to announce the launch of a pilot program focused on improving the appearance and cleanliness of Welland’s downtown core.
Two custom-built maintenance tricycles officially hit the streets this week as part of a 16-week initiative aimed at enhancing the public realm through daily litter pickup, weeding, and light maintenance.
Picture credit: Who is Danny / Adobe Stock
Real GDP shrinks for second consecutive month
Real gross domestic product (GDP) edged down 0.1% in May for the second consecutive month, as goods-producing industries declined while services-producing industries were essentially unchanged.
Photo credit: Pixel-Shot / Adobe Stock
Healthcare and retail lead May job creation, while manufacturing and wholesale shed workers
Monthly increases in payroll employment in May were recorded in health care and social assistance (+6,200; +0.3%), retail trade (+5,600; +0.3%) and construction (+1,200; +0.1%). These gains were partially offset by declines in manufacturing (-6,400; -0.4%), administrative and support, waste management and remediation services (-3,500; -0.4%) and wholesale trade (-2,900; -0.3%).
Meanwhile, job vacancies in Canada fell by 20,400 (-4.1%) in May to 478,200, extending the decline recorded in April (-17,400; -3.4%).
Focus on Canada-U.S. Business
As Detroit 3 automakers report tariff blows, experts say a trade deal is the only solution
Abby Hughes, CBC News
The Detroit Three automakers are taking a big hit from the Trump administration’s tariffs, and industry experts say only one thing can stop the bleeding for the North American auto industry — a trade deal with low tariff rates for the industry.
General Motors, Ford and Stellantis have all reported tariff impacts in the billions on recent earnings calls.
Ford said on Wednesday that it took an $800-million US (about $1.1 billion Cdn) hit for the second quarter as a result of tariffs.
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.
