Liberals to announce loans for lumber producers, new quotas on some foreign steel

Former U.S. President Donald Trump advised Japan to temper its rhetoric regarding Taiwan following a phone call with Chinese President Xi Jinping, which raised concerns in Tokyo about escalating tensions in the region. Japan's Prime Minister Sanae Takaichi had previously suggested a military response if China were to attack Taiwan, prompting a strong reaction from Beijing.

The Canadian government has announced new support measures for the lumber and steel industries, which have been adversely affected by tariffs imposed by the United States. This initiative comes amid stalled trade negotiations between Ottawa and Washington, highlighting ongoing tensions in trade relations.

The Department of Homeland Security has announced that hundreds of thousands of Haitians in the U.S. will lose their legal protections and work permits in February, requiring those without the right to stay to return to Haiti. This decision affects approximately 340,000 individuals who have been living under Temporary Protected Status (TPS).

Canadian Prime Minister Mark Carney is set to travel to Washington next week, indicating a lack of urgency to resume stalled trade talks with the United States. This visit comes amid ongoing trade tensions that have affected various sectors, including lumber and steel.

Canadian Prime Minister Mark Carney announced new support measures for the lumber and steel sectors as the steel industry faces significant challenges following the imposition of 50% tariffs on Canadian steel by U.S. President Donald Trump in June. This initiative aims to provide financial assistance to affected industries and impose stricter quotas on foreign steel imports.

A leaked phone call between U.S. and Russian officials has sparked widespread speculation regarding the identity of the leaker and their motives, with diplomats and analysts investigating who had the capability to intercept the conversation and who stands to gain from its disclosure.

Finance Minister François-Philippe Champagne emphasized Canada's potential as an energy superpower, advocating for energy security ahead of a Liberal caucus meeting. This statement reflects the government's commitment to both conventional and clean energy sources as part of its broader energy strategy.

Businesses outside the United States, particularly in Canada, are experiencing a decline in American customers during the holiday season due to increased costs from tariffs and additional fees. This trend highlights the impact of trade policies on cross-border commerce, especially during a peak shopping period.