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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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U.S. Urges Canada to Collaborate on Curbing Imports of Forced-Labour Goods from China

 

The U.S. State Department’s top human rights official, Uzra Zeya, has called for Canadian cooperation in addressing the importation of goods made from forced Uyghur and Tibetan labor in China. Zeya emphasized the need for joint efforts to combat this pressing issue.

Key Points:

  1. Uyghur Forced Labor Prevention Act: The U.S. has taken a strong stance against forced labor by passing the Uyghur Forced Labor Prevention Act. This law presumes that any goods from China’s northwestern region of Xinjiang are made using coerced labor of Muslim Uyghurs. Importers must demonstrate that products are not produced under forced servitude, or shipments from the region are blocked.

  2. Canada’s Commitment: Under the United States-Mexico-Canada Agreement (USMCA), Canada pledged to bar imports manufactured with forced labor. However, as of December 2023, Ottawa had not halted any shipments of such goods entering the country since the agreement took effect in July 2020.

  3. Collaboration and Accountability: Zeya highlighted the importance of collaboration between the U.S. and Canada to prevent forced-labor products from entering North America. She expressed readiness to share experiences and best practices to tackle this issue effectively.

  4. Global Impact: Democratic Senator Jeff Merkley raised concerns that Chinese companies have redirected goods made in Xinjiang to Canada and Europe following the U.S. ban. The Global Slavery Index estimates that over $18.5 billion worth of goods imported annually into Canada are at risk of being produced with forced labor.

As the international community grapples with this human rights challenge, joint efforts between the U.S. and Canada can play a crucial role in ensuring the integrity of supply chains and protecting vulnerable workers.



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