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U.S. Pauses Canada Tariffs for 30 Days

In a significant development, Canadian Prime Minister Justin Trudeau announced today that the United States has agreed to pause the implementation of tariffs on Canadian goods for at least 30 days. This decision comes after two phone calls between Trudeau and U.S. President Donald Trump, where they discussed the contentious issue of trade and border security.

Trudeau took to social media to share details of the agreement, outlining Canada’s commitment to enhancing border security. The Prime Minister revealed a comprehensive $1.3 billion border plan that includes reinforcing the border with new helicopters, advanced technology, and additional personnel. This initiative aims to strengthen coordination with American partners and increase resources to combat the flow of fentanyl across the border. Trudeau emphasized that nearly 10,000 frontline personnel are currently or will be working to protect the border.

You can read more on the matter here.

What’s going on?

• February Gold Deliveries Already More Than Twice Last Month’s (theDeepDive)

• El Salvador Offers to Take U.S. Deportees of Any Nationality Including Imprisoned Americans (WSJ)

• Momentum beginning to swing in Vancouver housing as January home sales rise (Globe)

• X Names Lego, Shell in Expanded Ad Boycott Suit (theDeepDive)

• China targets Google, Nvidia and Intel as Trump tariffs bite (FT)

• Phenomenal Time To Buy GOLD STOCKS! | Adrian Day (theDeepDive)

• US Job Openings Decline to 7.6 Million, Lowest Since September (Bloomberg)

• Gold Premium In US Hits $50 As Trade Tensions Mount (theDeepDive)

• RFK Jr. Clears Committee Vote, Putting Him on Track to Become Health Secretary (WSJ)

• Trump’s Tariffs Threaten to Drive Up Grocery Bills for American Families (theDeepDive)

• Amazon to Face Legal Action After Laying Off 1,900 in Quebec (BNN)

• US Halts Low-Value Import Exemption in New Trade Tariffs (theDeepDive)

What’s the latest?

• Boeing: Boeing has incurred over 2B in losses on its Starliner spacecraft program. with a 523 million charge in 2024 marking its largest single-year loss to date. The program, under a fixed-price NASA contract since 2014, faces ongoing financial risks due to technical issues, including propulsion malfunctions during its first crewed flight. NASA has delayed Starliner's next mission, relying on SpaceX for crewed flights in 2025, while Boeing undergoes leadership changes and works toward system certification. No updates have been provided on resolving Starliner's technical challenges since October 2023.

• Amazon: Amazon is closing all seven of its warehouses in Quebec, Canada, laying off over 1,900 workers and cutting ties with 2,600 delivery partners, prompting legal action from the Federation of National Trade Unions. The union is seeking to annul the layoffs, demand compensation, and challenge Amazon's shift to subcontractors as a violation of labor laws. The closures follow unionization efforts at a Laval warehouse, though Amazon denies the decision is related. The union has also launched a consumer boycott campaign, while Canada’s industry minister criticized the move and called for a review of Amazon’s business relationship with the government. Amazon, which employs 1.55 million globally, faces ongoing unionization challenges in the U.S. and Europe.

• Barrick: Barrick Gold Corp. is making slow progress in resolving its dispute with Mali’s military regime over revenue distribution from the Loulo-Gounkoto mine, which has led to suspended operations and blocked gold shipments since November. CEO Mark Bristow emphasized the importance of the mining industry to Mali’s economy and noted ongoing arbitration, while also advocating for more consolidation in the mining sector. He highlighted gold’s growing role as a safe-haven asset amid global economic tensions and de-dollarization trends.

• Ferrari: Ferrari reported a 21% increase in full-year net profit to €1.53 billion ($1.58 billion) for 2024, driven by strong demand for personalized vehicles and a robust product mix. The company’s net revenues rose nearly 12% to €6.7 billion, with core earnings (EBITDA) reaching €2.56 billion. Ferrari forecasts a 5% revenue growth to over €7 billion in 2025 and plans to launch its first fully electric car in October 2024. Despite potential U.S. tariff impacts, analysts believe Ferrari is well-positioned to pass on price increases.

• China Retaliates: China announced retaliatory tariffs on select American imports and an antitrust investigation into Google on Tuesday, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect. American tariffs on imports from Canada and Mexico were also set to go into effect Tuesday before Trump agreed to a 30-day pause, as the two countries acted to address his concerns about border security and drug trafficking. Trump planned to talk with Chinese President Xi Jinping in the next few days.

Lunding Mining Gets Fined

The stock market and stuff

• B2Gold Outlines $131 Million NPV For Antelope Deposit At Otjikoto (theDeepDive)

• PayPal announces new $15B stock repurchase program (SA)

• Palantir surges 25% as group predicts windfall from Elon Musk’s government cost-cuts (FT)

• Meta Adds $235 Billion of Value in Longest Winning Streak Ever (Bloomberg)

• Spirit Blockchain To Raise Funds To Purchase $DOGE, Launch Crypto Protocol (theDeepDive)

In the juniors

• Heliostar Metals Produces 20,795 GEO’s In 2024 (theDeepDive)

• Red Pine Exploration Drilling Expands Gold System at Wawa Gold Project (JMN)

• Growing Silver Supply Deficit Year 5 – What’s Next? | James McDonald – Kootenay Silver (theDeepDive)

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