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

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:

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...

“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 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 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...

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

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 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...

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, 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

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...

Here's a starter pack for the Bloomberg News team in Canada. Please give them a follow, thanks! go.bsky.app/GM4xQd8

Whenever I write a longer story, I have this banger of an OST playing in the background. Or the Challengers OST (same guys). Anyone have other suggestions?

More Bloomberg News reporters and editors have been added to our starter pack of Bloomberg News journalists. We hope you <GO> and follow them!

Helpful (and growing) starter pack here from @sostheneung.bsky.social to find and follow those in & around the critical minerals, mining and energy transition sectors: go.bsky.app/VWPWrCX

Bluesky will fully win me over when it adds a bookmarking option.

Most of the world’s top gold miners have seen their shares surge this year as bullion prices hit repeated record highs. Not Barrick Gold. Story: www.bloomberg.com/news/article...