2026-01-02
]Bnn Bloomberg Canada]: LeBlanc heading to Washington to talk trade
Canada-U.S. trade minister Dominic LeBlanc is travelling to Washington today to meet with his American counterpart. It comes as Canada’s official negotiations over its trade agreement with the U.S. have yet to begin. The Canada-U.S.-Mexico trade agreement is subject to a mandatory review. U.S. representative Jamieson Greer has suggested the Trump administration favours a North America-wide system of tariffs.
Trump lowers tariffs on some steel products
U.S. President Donald Trump has signed a proclamation amending his Section 232 national security tariffs on some aluminum, steel and copper imports. The proclamation lowers tariffs on some steel and aluminum products, including certain types of agricultural machinery and residential heating, air conditioning and ventilation equipment to 15 per cent from 25 per cent previously. It makes mobile industrial equipment, such as bulldozers and forklifts, subject to a 15 per cent tariff “when imported from trade deal countries that are entitled to such treatment,” the White House said in a statement.
Alphabet selling US$80B in stock
Shares in Alphabet fell in pre-market trading. The parent company of Google plans to sell US$80 billion in stock, including a US$10 billion investment by Berkshire Hathaway. Alphabet says the capital will fund investment in AI. Alphabet’s stock has more than doubled in the past year as investors applaud its ai investments,
HPE shares jump on sales outlook
Shares in Hewlett Packard Enterprise rose in premarket trading following its forecast for annual sales that topped estimates. HPE cites growth in AI, driven by demand for its servers and networking. The company is one of the largest makers of computing equipment, benefitting from the demand for hardware to train and use ai.
Marvell surges on Huang comments
Shares in Marvell Technology surged in pre-market trading. This comes after Nvidia’s Jensen Huang predicted the semiconductor and networking company will be the next business to hit a trillion dollar valuation. That’s more than five times its current capitalization. Nvidia took a 2 billion dollar stake in Marvell three months ago
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