Big change from TMX in the Lower Mainland is that it goes on the north side of the river between Hope and Langley in order to avoid the choke point just west of Hope. www.cbc.ca/news/canada/...

The pipeline company Pembina has agreed, at least tentatively, to help build the Alberta's new oil pipeline along the TMX route. Pembina would be "complementing, rather than replacing, the lead Project proponent" www.businesswire.com/news/home/20...

David Eby says "through our discussions and negotiations with the federal government, we have secured a commitment to keep the Northern Tanker Ban firmly in place." It's not immediately clear to me if that rules out a northern route for Alberta's oil pipeline

Excellent journalism job alert: Bloomberg's Ottawa bureau is hiring an editor to shepherd our government and economy coverage, contribute reporting, cultivate sources, and work on breaking news, in-depth features, and everything in between. Details here: bloomberg.avature.net/careers/Publ...

Excellent journalism job alert: Bloomberg's Ottawa bureau is hiring an editor to shepherd our government and economy coverage, contribute reporting, cultivate sources, and work on breaking news, in-depth features, and everything in between. Details here: bloomberg.avature.net/careers/Publ...

(Bloomberg) -- President Donald Trump is happy with Canada’s arrangement to allow a capped number of Chinese electric vehicles to be imported at a low-tariff rate, Prime Minister Mark Carney said.

The G7 hot mics caught a Carney-Trump exchange that began as a joke about Macron's watch, then turned serious as Carney pitched Trump on Canada's deal on Chinese EVs. From our live blog: www.bloomberg.com/news/live-bl...

Carney, speaking at the G7 ahead of his meeting with Zelenskyy: "The tide is turning as expected in this war, and this is part of what we just discussed. Ukraine will win. It’s just a question of time, it's just a question of how much senseless slaughter Russia perpetrates."

It's the first full day of the G7 summit in France. Carney is scheduled to have multiple side meetings today, including with Ukraine's Zelenskyy and India's Modi. No scheduled meeting with Trump as of yet. Bloomberg's G7 liveblog is a great resource: www.bloomberg.com/news/live-bl...

(Bloomberg) — Prime Minister Mark Carney said the US export ban blocking all foreign access to Anthropic’s latest artificial intelligence models underscores the risk of depending on just a handful of powerful AI tools. Story w/ @twseal.bsky.social

“The US has been clear that they do not want to go to Congress to change the fundamental architecture,” Carney said about USMCA @brianplatt.bsky.social reporting from Carney's pre-G7 swing through Ireland

(Bloomberg) — Prime Minister Mark Carney said Trump administration officials have been clear that they don’t want to trigger a vote in Congress by changing the “fundamental architecture” of the North American free trade deal.

Trump told reporters today he's not looking to renew USMCA by July 1. This means the deal stays in force, it just enters a period of annual rolling reviews, adding to the overall trade uncertainty with the US. www.bloomberg.com/news/article...

Chinese refiner Rongsheng, which is already the biggest buyer of oil from TMX, is studying a potential offtake deal for the new pipeline Alberta wants to build through BC. Alberta officials have also talked to buyers and investors in Korea and Japan www.bloomberg.com/news/article...

The state of play on USMCA: The July 1 renewal almost certainly won't happen, sources say, which sets up rolling annual reviews and an extended period of uncertainty as the US negotiates side deals with Canada and Mexico. Story with colleague Josh Wingrove www.bloomberg.com/news/article...

Heritage Minister Marc Miller is ordering the CRTC to review its decision to make streaming giants pay 15% into a CanCon fund. "At a time when Canadians face cost-of-living pressure, now is not the time to make culture and entertainment more expensive." www.canada.ca/en/canadian-...

Canada Makes New US Trade Proposals But Warns ‘Turbulence’ Ahead

In the past few days, the first Chinese-made EVs have started entering Canada under the new tariff quota deal. As expected, these first shipments are almost all Teslas made in Shanghai www.bloomberg.com/news/article...

NEW: Feature and mini-documentary about how landmark court rulings since August have British Columbia gripped in a debate over Indigenous land and development rights. (1/4) Gift link:

Canada is set to announce a deal to sell LNG to Germany's SEFE from the planned Ksi Lisims export facility on BC's coast Helped @brianplatt.bsky.social with this scoop

The Trump administration plans to give a waiver on the Chinese EV software ban to Volvo, which is owned by Geely, a massive Chinese car company www.bloomberg.com/news/article...

Big news: Canada and Germany are announcing an LNG supply deal tomorrow, with gas sourced from the proposed Ksi Lisims export terminal on BC's north coast. The move comes as both Canada and Europe try to reduce economic reliance on the US www.bloomberg.com/news/article...

Journalism job alert: Bloomberg is hiring a Canadian real estate reporter, based in Toronto. bloomberg.avature.net/careers/Publ...

Prime Minister Mark Carney has touted early success in his push to diversify Canada's trade beyond the US. But the gains have largely been driven by surging gold prices, rather than firms breaking ground in new markets. www.bloomberg.com/news/article... @nojoudalmallees.bsky.social @bloomberg.com

I'm thrilled to say I'll be taking on a new position as Bloomberg's Ottawa bureau chief, though also daunted at having to succeed the indefatigable @ldhillonkane.bsky.social. This bureau is such a strong team and I can't wait to keep elevating our work higher.

Canada’s car industry is facing a double whammy from US tariffs and declining support for electric vehicles. Honda’s troubles aren’t helping sentiment. More in this week’s Bay Street Edition newsletter.

(Bloomberg) -- The Canadian economy shed 17,700 jobs in April while more people looked for work, pushing the unemployment rate up to 6.9%.

(Bloomberg) — President Donald Trump’s 10% global tariffs were declared unlawful by a federal trade court in a fresh blow to the administration’s economic agenda, several months after the US Supreme Court vacated earlier levies he’d imposed. www.bloomberg.com/news/article...

As of this week no Chinese-made EVs have been imported under the new tariff quota, but that's about to change as Tesla appears to be shifting to Chinese-made cars in Canada. The government doesn't want one company to dominate the quota, so caps are likely coming. www.bloomberg.com/news/article...

“We will look at options for the airports so that they better serve Canadians and so that the capital that is tied up in those airports can be redeployed potentially in other ventures that will grow our economy,” Carney told reporters www.bloomberg.com/news/article...

The Alberta government believes it will have Indigenous support for its plan to build a new oil pipeline to the Pacific coast. @brianplatt.bsky.social spoke exclusively with Energy Minister Brian Jean during his visit to Ottawa this week www.bloomberg.com/news/article... @bloomberg.com

With Canada now planning to create a sovereign wealth fund, it's a good time to read our feature from last weekend on the investment-banker mindset Mark Carney and his inner circle are trying to bring to government. Gift link: www.bloomberg.com/news/feature...

(Bloomberg) -- The Bank of Canada held interest rates steady, saying adjustments to borrowing costs would be likely be small if the economy and inflation evolve as expected.

So far there are very few details on how this fund will work. For example, we are told it will be arm's length from the government...but also invest in the projects the government wants it to invest in? We may get a clearer picture in the budget update that's coming tomorrow

As Canada grapples with economic strains and US tensions, Mark Carney is operating less like a traditional politician and more like a CEO. The mission is to expand trade networks and get deals done. @brianplatt.bsky.social @christinedobby.bsky.social @bloomberg.com www.bloomberg.com/news/feature...

Alberta is looking at 3 routes in northwest BC for a pipeline, and believes going south to Vancouver would be significantly more expensive because you can't fit a third pipe along parts of the TMX route. A carbon pricing deal is also close. Our story: www.bloomberg.com/news/article...

Lutnick is responding to reporting last week from our Ottawa reporter @brianplatt.bsky.social:

US Commerce Secretary Howard Lutnick on Canada: "They suck."

Canada's biggest satellite operator Telesat is getting a boost from billions of dollars in defense spending. CEO Dan Goldberg spoke to Bloomberg and told us how, shortly after he moved to Ottawa 20 years ago, he met a neighbour and fellow local dad — one Mark Carney

Carney is removing the federal excise tax on fuel until Labour Day weekend, a move he said will drop gas prices by 10 cents/litre and diesel prices by 4 cents/litre. It does not appear the GST is being removed on fuel.

CBC has called the University-Rosedale byelection for the Liberals, which means Mark Carney now has a majority government in parliament. Two more byelections still to go tonight, and Liberals will almost certainly win at least one of them

Interesting indeed: in 2021, Gladu opposed and voted against Bill C-6, an act that would end the practice of conversion therapy in Canada. In 2023,she introduced a bill that would declare December to be Christian Heritage Month.

ANOTHER Conservative MP has crossed the floor to the Liberals. Marilyn Gladu, who represents Sarnia. This...is an interesting one.

Carney on Trump/Iran: "Canada expects all parties in this conflict, in any conflict, to respect international laws, the rules of engagement, and that means not targeting certainly civilians or civilian infrastructure, and we urge all parties in this war to follow those responsibilities."

Industry Minister Melanie Joly laid out her conditions for Stellantis to build Chinese EVs (or any other car) in Brampton, and ruled out having the parts largely built in China beforehand. “We can’t bring cars in a kit to Canada,” she said. www.bloomberg.com/news/article...

Canadian officials are considering unusual measures to protect domestic producers of veg and wood products from low-priced imports. It threatens to complicate Carney’s efforts to fight US tariffs, strengthen Canada’s trade relationships with other countries, and tackle cost-of-living challenges

Minister Joly is in Vancouver so I just asked her about this. She said Stellantis has been "presenting different scenarios" and that Canada's conditions are good jobs w/strong labour standards, secure software, local suppliers. She highlighted Canadian parts companies Linamar, Martinrea and Magna

Bloomberg scoop: Chinese EVs could be built in the Stellantis plant in Brampton, where a planned Jeep production line was cancelled last year and moved to the US. Stellantis has discussed with Canadian officials the idea of building Leapmotor EVs there www.bloomberg.com/news/article...

At a news conference, Pierre Poilievre announces his opposition to the high speed rail project proposed to connect Quebec City, Montreal, Ottawa and Toronto, calling it a $90 billion "boondoggle"

I’ve seen enough: the Jays will be fun again this year, confirmed