NATIONAL NEWS CANADA’S ECONOMIC UPDATE IS COMING THIS AFTERNOON; CANADIAN ECONOMY EXPECTED TO GROW WITH POT SALES
Canada’s budget details come out this afternoon
Ottawa’s economic update is rolling out this afternoon.
Finance Minister Bill Morneau is expected to renew the Liberal’s commitment to continue cutting the deficit, which is expected to sit at $18 billion. Conservative Leader Andrew Scheer has criticized the Liberals for avoiding putting a time frame on erasing Canada’s debt. The announcement is set to start at 4:00pm EST.
Economic growth could be boosted by pot sales
Canada’s pot sales could play a big role in helping push our GDP higher.
The Organization for Economic Co-operation and Development suggests Canada’s GDP could grow to 2.2 per cent in 2019 thanks, in part, to marijuana sales. However, the organization warns GDP across the globe is likely to drop in 2020 if Trump continues on his trade tariff tirade.
Canada heads to WTO to deal with steel and aluminum trade tariffs
Canada is taking its US trade-related grievances to the top.
Alongside the EU and a handful of other countries, Canadian officials will plead their case on steel and aluminum trade tariffs to the World Trade Organization. Justin Trudeau has said he will likely sign the newly inked USMCA trade deal even if the tariffs are still in place.