Is Trump coming for Canada’s critical minerals? | Front Burner | CBC Podcasts | CBC Listen It can be hard to truly understand the motivations behind Donald Trump and his administration. But when looking at some of the countries that have found themselves in his crosshairs, there’s a through...

Very informative CBC Podcast: Is Trump Coming for Canada’s Critical Minerals?

With @jacoblorinc.bsky.social

www.cbc.ca/listen/cbc-p...

The leader of Ontario, Canada’s largest province: “We’ll be ripping up the province’s contract with Starlink. Ontario won’t do business with people hellbent on destroying our economy.”

Trudeau announces Canada plans a massive retaliation package of 25% tariffs against $155 billion of US imports. To start, tariffs on $30 billion of US imports to take effect Tuesday. Tariffs on another $125 billion in 21 days. (Figures in CAD)

Tariffs on steel and aluminum are all but certain to push up costs:

Steel imports account for about 13% of US demand, per US trade data, with most foreign imports coming from Canada, Mexico, Brazil.

Aluminum imports account for 44% of US demand. And Canada is by far the largest importer. 🏭

"Why are tariffs on Canada and Mexico different than (some) other tariffs? Consider this graph courtesy of Bloomberg via Torsten Slok" (but actually from me & @AlfredCObregon) https://buff.ly/42xOkvp

President Trump says tariffs help US companies ramp up domestic production. But building new capacity won’t come quickly.

Per Morgan Stanley last week: “Constructing and ramping up new smelters/mills can take three or more years.”

Tariffs on steel and aluminum are all but certain to push up costs:

Steel imports account for about 13% of US demand, per US trade data, with most foreign imports coming from Canada, Mexico, Brazil.

Aluminum imports account for 44% of US demand. And Canada is by far the largest importer. 🏭

Trump's pick for commerce secretary hones in on Canada's dairy industry in today's confirmation meeting — foreshadowing to trade negotiations:

Freeland to Scrap Canada’s Capital Gains Hike If She’s Elected Chrystia Freeland would drop the Canadian government’s policy of raising the capital gains inclusion rate if she wins the race to replace Justin Trudeau as prime minister, according to a person with k...

A reversal: Chrystia Freeland won't go ahead with the capital gains tax increase if she wins the Liberal Party leadership and becomes prime minister, sources say. Our story here:
www.bloomberg.com/news/article...

How Popular YouTubers Pushed Young Male Voters Toward Trump How podcasters like Joe Rogan and Logan Paul turned young men, a once apolitical demographic, into a massively powerful voting bloc

“As the election drew closer, more politicians and pundits were invited onto the podcasts and livestreams...By the time Trump made the rounds on the shows, the audience was primed to take action in the election.” www.bloomberg.com/graphics/202...

🤯 HUGE

Vibe shifting so fast, grab on now—gonna be a wild ride.

“President of the Union of BC Indian Chiefs is reversing his previous opposition to the scrapped Northern Gateway pipeline … to the Pacific Ocean.”

“if we don't build that kind of infrastructure, Trump will”

Trump to Hold Off on Immediate China-Targeted Tariffs President-elect Donald Trump will not unveil China-specific tariffs on his first day in office, as the incoming administration starts with potential engagement with Beijing rather than another trade w...

Trump is going to do lots of stuff today, but it doesn't look like hitting Canada with tariffs is going to be one of them.

This is a big, if possibly temporary, reprieve for Canada's oil sector. Producers shares are up today, even as crude is down.

www.bloomberg.com/news/article...

The loonie pops on reports that Trump is, for now, holding off on immediate orders for tariffs.

Nothing is off the table when it comes to potential Canadian trade retaliation, including export taxes, Canada's Natural Resources Minister Jonathan Wilkinson tells @brianplatt.bsky.social in an interview today.

Canada is already weighing export taxes on oil and uranium if Trump imposes tariffs.

"The owner of America's only cobalt mine is delisting its shares & going private after the price of the battery metal collapsed.

"A testament to the challenges of loosening China's grip on these metals." -- @jacoblorinc.bsky.social

Canada Weighs Export Taxes on Uranium, Oil If Trump Starts Trade War Canada is examining the use of export taxes on major commodities it exports to the US — including uranium, oil and potash — if incoming President Donald Trump carries out his threat to impose broad ta...

Canada is examining the use of export taxes on major commodities it exports to the US — including uranium and oil — if Trump carries out his threat to impose broad tariffs. The move would drive up costs for American consumers. Story by @brianplatt.bsky.social

www.bloomberg.com/news/article...

Newmont Cuts Management Jobs in Major Corporate Restructuring Newmont Corp. let go of nearly a dozen managers, including a member of its executive team, as part of a sweeping corporate overhaul, according to people familiar with the matter.

Scoop: Newmont, the biggest gold mining company, has let go of nearly a dozen senior managers in a major corporate overhaul. The firm posted lousy earnings in October that saw shares plummet despite the surging price of gold.
www.bloomberg.com/news/article...

(Bloomberg) -- Mali’s military-controlled government has issued an arrest warrant for money laundering against Canada's Barrick Gold CEO Mark Bristow amid an escalating dispute over mine revenues.

Evidence of my business reporter credentials

New Chinese mineral export controls prompt Canadian miners to promote their importance to the US, as Trump threatens tariffs

* More than half of Canada's $57b mineral exports in 2022 were destined for the US

* Teck looking to boost output of germanium, which has hi-tech security applications

Canada Mining Group Uses China Ban to Push Back on Trump Tariffs China’s move to ban exports of rare metals to the US underscores the need for trade cooperation between mineral-rich Canada and its southern neighbor.

Canadian miners are pushing back on Trump's tariff proposal, arguing that China’s move to ban exports of rare metals to the US underscores the need for trade cooperation between the North American neighbors. Story by @jacoblorinc.bsky.social

www.bloomberg.com/news/article...

China Dials Up US Trade Tension With Tit-for-Tat Metals Ban China ratcheted up trade tensions with the US with a ban on several materials with high-tech and military applications, in a tit-for-tat move after President Joe Biden’s government escalated technolog...

China bans exports of rare-but-crucial metals like germanium and gallium to the US (used in tech & military defense).

All this material will become even harder for the US to access should it impose tariffs on Canada, the other big producer of metal like germanium.
www.bloomberg.com/news/article...

A Roadmap Through the Drama and Realities of Trump’s Trade War Trump’s tariffs could go in many different directions. Understanding the strategy from his first term, and the priorities of his new team, reveals a potential path ahead.

What Donald Trump’s tariff promises might really turn out to be in delivery.

My @bloomberglp.bsky.social colleagues and I came up with a plausible scenario:

www.bloomberg.com/news/feature...

Trump Disavowed Project 2025 During the Campaign. Not Anymore. President-elect Donald J. Trump has filled his administration with people who have ties to the right-wing manifesto.

Trump, while campaigning, swore he had “nothing to do with” the right-wing policy blueprint, Project 2025.
Now architects of the plan are overseeing key issues for him, including the federal budget, intelligence gathering and his promised plans for mass deportations.
www.nytimes.com/2024/11/29/u...

Canada's exports to the US. Safe to expect the price at the pumps to rise with sky-high tariffs:

My bluesky newsfeed is almost exclusively comprised of book recommendations, energy policy nerdom, and reliable reporting......sheer bliss

Hydrogen Wildcatters Are Betting Big on Kansas to Strike It Rich A growing number of startups are searching for geologic hydrogen from the US Midwest to Australia and hoping for a “Spindletop moment.”

A new Gold Rush is taking shape on a quiet stretch of Kansas prairie. There, a clutch of startups are searching below the surface for naturally occurring hydrogen. The hunt is clean energy wildcatting, with a real possibility of failure.

By @michellema.bsky.social

www.bloomberg.com/news/feature...

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