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CanadaCancelling cap-and-trade will result in $3B in lost revenue: FAO

19:05  16 october  2018
19:05  16 october  2018 Source:   cbc.ca

Canada records international trade surplus, driven by decline in imports

  Canada records international trade surplus, driven by decline in imports Canada recorded its first merchandise trade surplus with the world in more than 18 months in August, as unusually timed shutdowns at auto plants helped cut imports at a greater rate than exports, Statistics Canada said on Friday. The surplus of $526 million was the first since December 2016 and follows a revised deficit of $189 million in July.Auto plants in Canada, which usually cut production in July for retooling, had more temporary shutdowns than usual in August, Statistics Canada said. Exports in August fell by 1.

Emissions trading, or cap and trade , is a market-based approach to controlling pollution by providing economic incentives for achieving reductions in the emissions of pollutants.

Elections in California, 2018. General election: Nov. 6. Voter registration deadline: Oct. 22. Early voting: Oct. 8 - Nov. 5. Absentee voting deadline: Postmark Nov. 9. Online registration: Yes. Same-day registration: Yes. Voter ID: No.

Ontario's fiscal watchdog says the Progressive Conservative government's decision to end the cap-and-trade system will result in the loss of $3 billion in revenue over the next four fiscal years.

The Financial Accountability Office says in a report released today that the loss of revenue is greater than the savings achieved by cutting spending associated with the program, and will worsen Ontario's budget position.

The FAO also says that in the long run, the cap-and-trade system would have cost Ontario families less than the federal carbon tax.

The office estimates that under cap and trade, the typical Ontario household would pay $312 in additional costs by 2022, compared to $648 under the federal system by the same year.

Trump repeats threat of more tariffs if China retaliates on trade

  Trump repeats threat of more tariffs if China retaliates on trade By Roberta Rampton and Lisa Lambert © REUTERS/Jonathan Ernst U.S. President Trump returns from Florida to the South Lawn of the White House in Washington President Donald Trump on Tuesday repeated his threat to impose tariffs on $267 billion worth of additional Chinese imports if China retaliates for the recent levies and other measures the United States has taken in the countries' escalating trade war.Trump, speaking to reporters in the Oval Office, also said China is not ready to reach a deal on trade."China wants to make a deal, and I say they're not ready yet," Trump said.

As a result , the U.S. trade deficit with Korea increased .1 billion between 2011 and 2015, an increase of 114.6 percent, more than doubling in just four years. Most of those jobs lost were in manufacturing (the growth As a result , the trade deficit in vehicles and parts increased .6 billion

The relationship between trade and food security has been a topic of long-standing debate. Assisting developing countries in implementing current trade agreements and in preparing for trade negotiations through studies, analysis, training and experience sharing is a core activity of FAO .

Cancelling cap-and-trade will result in $3B in lost revenue: FAO © Christopher Katsarov/Canadian Press Ontario's Financial Accountability Office says in a report released Tuesday that the loss of revenue from scrapping the cap-and-trade program is greater than the savings achieved by cutting related spending, and will worsen Ontario's budget position.

Premier Doug Ford campaigned on a pledge to cancel cap-and-trade during the spring election and has vowed to challenge the imposition of a federal carbon tax in court.

Cap-and-trade, which was introduced by the previous Liberal government, puts caps on the amount of pollution companies in certain industries can emit. If they exceed those limits, they must buy allowances at auction or from other companies that come in under their limits.

Cancelling Saudi deal could cost billions.
OTTAWA - Justin Trudeau says the penalty for cancelling Canada's arms deal with Saudi Arabia could be "in the billions of dollars." The exact price tag has been in question since the prime minister first mentioned penalties of as much as $1 billion earlier this week. Trudeau says he can't be precise because the contract — signed by the previous Conservative government of Stephen Harper — includes a requirement of "total confidentiality." The Trudeau government has been under pressure to cancel the contract since the brutal murder of journalist Jamal Khashoggi in the Saudi consulate in Istanbul on Oct. 2.

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