Prime Minister Justin Trudeau has stated that recent concerns about foreign-made steel by the U.S. administration are unlikely to affect Canadian-made steel.
The Canadian dollar rose 0.8 per cent last week to become the top performer among 16 major currencies tracked by Bloomberg. A report by Statistics Canada also showed that Canada’s retail sales exceeded expectations in April.
U.S. Trade Representative Robert Lighthizer has indicated that the current administration’s primary concern in the upcoming NAFTA renegotiations is to reach the best possible deal for the U.S. and therefore has no deadline to complete the negotiations.
Recent data from the Department of Energy’s Energy Information Administration reports that the average price per gallon of diesel gasoline has dropped 3.5 cents, which is in addition to a cumulative decline of 8.2 cents per gallon since the week of May 29.
Taiwanese electronics manufacturer Foxconn is considering opening a facility in the U.S. and may have selected a location in Wisconsin according to The Associated Press. This would be the first U.S. factory for Foxconn and follows rumours that Apple asked suppliers Foxconn and Pegatron to investigate the feasibility of producing iPhones in the U.S.