Borderlands: Canada

Rise in China e-commerce traffic lifts Cargojet to record revenue

Canada’s Cargojet squeezed 16% more flight hours out of its existing fleet in the fourth quarter to accommodate a surge in demand for charter service from e-commerce sellers in China, resulting in a 32% year-over-year revenue gain to US$207 million.  

Earnings were tempered by higher startup costs for charter flights, such as overtime pay for pilots, maintenance and ground handling, as adjusted pretax income came in 5% below analysts’ forecast.

Cargojet’s on-demand charter business increased...

https://www.freightwaves.com/news/rise-in-china-e-commerce-traffic-lifts-cargojet-to-record-revenue

Trump announces 25% tariffs on all imports of steel and aluminum 

President Donald Trump said that on Monday he will impose a 25% import tax on all steel and aluminium entering the U.S., a move that would have the largest impact on trade partners Canada and Mexico.

“Any steel coming into the United States is going to have a 25% tariff,” Trump told reporters Sunday on Air Force One as he flew to New Oreans for the Super Bowl, according to the CBC. “Aluminum, too, will be subject to the trade penalties.”

The tariffs would hit Canada and Mexico the hardest — two...

https://www.freightwaves.com/news/trump-announces-25-tariffs-on-all-imports-of-steel-and-aluminum

Border seizures of fentanyl, drug central to tariff war, fell in FY 2024

President Donald Trump’s threat to impose 25% tariffs on Mexico and Canada centers around stopping illegal immigration and fentanyl from entering the United States from those countries.

The Trump administration said fentanyl, in addition to illegal immigration, constitutes a national emergency, giving the president the power to authorize tariffs under the International Emergency Economic Powers Act.

“Today, I have implemented a 25% Tariff on Imports from Mexico and Canada (10% on Canadian...

https://www.freightwaves.com/news/border-seizures-of-fentanyl-drug-central-to-tariff-war-fell-in-fy-2024

Canada’s Purolator buys Livingston to boost cross-border trade capacity

Purolator, Canada’s largest overnight parcel carrier, has acquired Livingston International, the country’s largest customs brokerage, to create a vertically integrated logistics service supplier for cross-border trade.

Purolator announced Tuesday afternoon that it had finalized the deal with Livingston’s owner, Platinum Equity. Terms were not disclosed.

The integrated freight, package and logistics provider, which is 91% owned by Canada Post, said the combination was made in response to the...

https://www.freightwaves.com/news/canadas-purolator-buys-livingston-to-boost-cross-border-trade-capacity

Mexico’s president says tariffs delayed after Trump meeting

Mexican President Claudia Sheinbaum has announced an agreement with President Donald Trump to delay tariffs on Mexican imports for one month.

It was not immediately clear if Mexico would halt its planned retaliatory tariffs.

The 25% tariff on all Mexican imports was originally planned to go into effect on Tuesday. In a post on X translated from Spanish, Sheinbaum said she and her team “had a good conversation with President Trump,” and the tariffs would be delayed for one month from now as part...

https://www.freightwaves.com/news/mexicos-president-says-tariffs-delayed-after-trump-meeting

Stock markets around the globe tumble in response to Trump tariffs

The U.S. stock market opened Monday with sharp declines after President Donald Trump launched tariffs against Canada, China and Mexico over the weekend.

The Nasdaq tumbled 1.86% or 401 points, leading the declines among the three major U.S. indexes. The Dow Jones Industrial Average tumbled about 1.1%, or around 489 points. The S&P 500 fell roughly 1.8% or 89.6 points.

Trump signed an executive order Saturday putting 25% tariffs on imports from Canada and Mexico, while Chinese products face an...

https://www.freightwaves.com/news/stock-markets-around-the-globe-tumble-in-response-to-trump-tariffs

Mexico and Canada strike back with retaliatory tariffs on US

Officials in Canada and Mexico struck back hours after President Donald Trump imposed a 25% tariff Saturday on imports from the neighboring countries, announcing they would retaliate by implementing their own import duties on U.S. goods.

Trump signed an executive order putting 25% tariffs on imports from Canada and Mexico, while Chinese products will receive an additional 10% tariff. Canadian energy imports will only be tariffed at 10%.

The U.S. duties on all three countries will be fully in...

https://www.freightwaves.com/news/mexico-and-canada-strike-back-with-retaliatory-tariffs-on-us

Trump orders steep tariffs on goods from Mexico, Canada, China 

President Donald Trump signed an executive order Saturday that will impose 25% tariffs on imports from Mexico and Canada, along with an additional 10% tariffs on goods from China.

Canadian energy imports will only be tariffed at 10%.

The tariffs were announced through Trump’s social media platform Truth Social.

“Today, I have implemented a 25% Tariff on Imports from Mexico and Canada (10% on Canadian Energy), and a 10% additional Tariff on China. This was done through the International Emergency...

https://www.freightwaves.com/news/trump-orders-steep-tariffs-on-goods-from-mexico-canada-china

Canada vows strong response to Trump’s tariff threats, Mexico urges ‘calm’

Canadian Prime Minister Justin Trudeau said if President Donald Trump levies 25% tariffs on goods from Canada, his country could impose couter-tariffs on U.S. imports.

“I support the principle of dollar-for-dollar matching tariffs. It’s something that we are absolutely going to be looking at if that is how they move forward,” Trudeau said at a news conference in Quebec on Tuesday, according to Global News.

On Monday, Trump said he would impose 25% tariffs on goods imported from Mexico and Canada...

https://www.freightwaves.com/news/canada-vows-strong-response-to-trumps-tariff-threats-mexico-urges-calm

Trump tariffs would be ‘blow’ to US allies Canada and Mexico, experts say

President-elect Donald Trump’s promise to hit goods from Mexico and Canada with 25% tariffs when he returns to the White House on Monday could strain trade relations among the three nations, experts said during an online forum.

“We have to start from the premise that the application of 25% tariffs against all products from Canada and Mexico is a huge blow to the USMCA [United States-Mexico-Canada Agreement] and a huge blow to our confidence in the U.S. as an ally,” Steve Verheul, Canada’s chief...

https://www.freightwaves.com/news/trump-tariffs-would-be-blow-to-us-allies-canada-and-mexico-experts-say

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