| Good morning. There are some signs of life in the stalled Canada-U.S. negotiations, as a milestone for the North American trade deal renegotiation comes up. We'll get into that, as well as why Colombia faces potential Canadian legal action, and get a closer look at Germany's sweetened submarine offer. |
|
|
|
|
|
|
THE LATEST
|
- Iran targeted a U.S. airbase on Thursday after the U.S. military struck one of its drone operations near the Strait of Hormuz, an escalation in hostilities that dampened hopes for a peace deal and sent oil prices surging again.
- The Carolina Hurricanes cruised past the Montreal Canadiens 4-0 on Wednesday to grab a 3-1 lead in the Eastern Conference final.
- A standoff between Alberta Premier Danielle Smith and her United Conservative Party over its official position on separation is over — and the premier has won.
- Newfoundland and Labrador Premier Tony Wakeham says "it's clearly not acceptable" for criminal cases to be tossed from the courts because of trial delays, after a CBC News investigation found that at least 24 people in the province went free over the last year and a half.
|
|
|
|
|
|
|
FEATURED STORIES
|
|
|
 |
(Rebecca Cook/Reuters)
|
|
|
It's crunch time for Canada's trade deal with the U.S. and Mexico
|
|
|
There may be some signs of life in the stalled trade negotiations between Canada and the U.S.
What's happening: The Canada-U.S.-Mexico Agreement (CUSMA) is due for its first joint review on July 1. But over the last seven months, Canada-U.S. Trade Minister Dominic LeBlanc has only had one day of in-person talks with his American counterpart, Trade Representative Jamieson Greer. The slow pace of talks, along with President Donald Trump's tariff regime, have raised doubts about the deal, which is crucial to the Canadian economy.
Why it matters: CUSMA covers about $1.3 trillion in annual Canada-U.S. trade and is currently shielding a large swathe of Canadian exports from Trump's tariffs. The three countries must let each other know of changes they want made to the deal by next Monday, a month ahead of the formal review. The U.S. and Mexico are holding two days of bilateral talks — while Greer is portraying Canada as far more recalcitrant in coming to the table.
|
|
|
|
|
|
|
|
|
|
|
Canada mulls legal action against Colombia over cancelled contract with Defence Ministry
|
|
|
The Canadian Commercial Corp., a Crown corporation., is considering legal action against Colombia after that country's Defence Ministry cancelled a contract worth hundreds of millions of dollars to construct its new headquarters.
What's happening: The agency's spokesperson said it was limited in what it could share due to confidentiality obligations. But they said the corporation is assessing its "legal and commercial options." The CCC is the country's contracting agency for deals between governments. Colombia's defence minister said in February that it was cancelling the contract, valued at about 1.5 trillion Colombian pesos ($484 million Cdn) when it was signed in 2022.
Why it matters: The affair became political during Colombia's ongoing presidential campaign, after a candidate raised questions over the 195 billion pesos that had allegedly already been transferred to the CCC by the current administration. The Colombian Defence Ministry said in a statement that the money was sitting in a Canadian bank account and had accrued about $6.9 million US in interest.
|
|
|
|
|
|
|
|
|
|
|
Germany pledges 4 submarines by 2036 in high-stakes pitch to Canada
|
|
|
ThyssenKrupp Marine Systems has pledged to deliver four Type 212-CD submarines to the Canadian navy by 2036, should Ottawa decide to go with the German company's bid.
What's happening: That's what German Defence Minister Boris Pistorius told CBC News yesterday. He said he has every confidence the company can meet the delivery goal, which is close to that of ThyssenKrupp's rival, the South Korean shipyard Hanwha Ocean. Hanwha has said it could deliver four of its KSS-III submarines by 2035, which is when Canada plans to retire all of its Victoria-Class submarines.
Why it matters: Germany is looking at a wide range of investments in the Canadian economy, both within and outside of defence. That could add billions of dollars as well as tens of thousands of jobs over the decades. South Korea has made similar promises, contingent on the contract. The difference with the German bid is that most of that country's proposed projects are frontloaded, and can be operational in two years.
|
|
|
|
|
|
|
|
|
|
|
