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Alberta Stands Alone: Refuses to Sign Joint Statement on Trump Tariffs

  In a surprising turn of events, Alberta has refused to sign a joint statement from the first ministers' meeting regarding the Trump administration's proposed tariffs on Canadian goods. Premier Danielle Smith, who attended the meeting virtually, stated that Alberta cannot support the federal government's plan if it includes energy export tariffs.  The meeting, chaired by Prime Minister Justin Trudeau, aimed to present a united front against the U.S. tariff threats. However, Smith's refusal to sign the statement has highlighted the province's unique concerns about the potential impact on its energy sector. Alberta's oil and gas industry, which is Canada's largest export to the U.S., could face significant financial pressure if the tariffs are implemented. Smith emphasized that Alberta will take whatever actions are necessary to protect its economy and the livelihoods of its residents. This stance has sparked a debate among the premiers, with some urging unit...
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US Stocks Hit Record Highs as Canada Lags Behind


The US stock markets continued their upward momentum on Friday, reaching new record highs amid a strong jobs report and a rally in tech giants. The S&P 500 index rose 1.3% to close at 4,937.96, while the Nasdaq composite surged 1.9% to end at 15,536.25. Meta Platforms and Amazon were among the biggest gainers, as the former announced a surge in profits and the latter beat earnings expectations.

The US economy added 304,000 jobs in January, beating forecasts and signaling a robust recovery from the pandemic. The unemployment rate fell to 3.6%, the lowest since March 2020. The solid labor data boosted investor confidence and reduced the odds of a rate cut by the Federal Reserve in the near future.

Meanwhile, Canada’s main stock index posted a small loss on Friday, weighed down by losses in the base metal, telecommunications and utility sectors. The S&P/TSX composite index fell 0.3% to finish at 21,052.57. The Canadian dollar traded for 74.32 cents US, down from 74.60 cents US on Thursday.

The Canadian economy shed 71,000 jobs in January, missing expectations and reversing some of the gains made in December. The unemployment rate rose to 6.4%, the highest since June 2020. The disappointing jobs report added to the concerns over the impact of the Omicron variant and the high inflation on the Canadian economy.

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