Episode Transcript
[00:00:01] Speaker A: And now News Takeaway.
[00:00:19] Speaker B: Connect FM 91.5 News Takeaway segment.
[00:00:27] Speaker A: Good morning Good morning Good morning.
[00:00:55] Speaker B: Shukara it was a very long month actually let me.
[00:02:46] Speaker A: Expanded.
[00:03:02] Speaker B: There are some stores in various cities.
[00:03:15] Speaker A: Basically China.
[00:03:28] Speaker B: Warehouse sale Anyway warehouse sale retail sales Then there is a very strong chance Overall Jade Maida GDP numbers Hong KHI Natural resources Oil and gas.
[00:04:37] Speaker A: Canadian.
[00:04:37] Speaker B: Economy Service producing industries Real estate transportation goods producing industries it is quite telling goods producing sector if that is only 25% of the GDP Natural resources extract bank of Canada.
[00:05:19] Speaker A: Yeah the bank of Canada by and large second quarter economic growth contraction economy which was way more than expectations Initial expectations second third fourth quarter which Idani Hona the second quarter which most likely contraction Hoiki quarter which is a contraction we will enter recession technical recession economic contract.
[00:06:31] Speaker B: Jado Zada orders producers gold.
[00:06:41] Speaker A: Exports were pulled forward yeah so per Istobad contraction Bank of Canada interest rate announcement economy did percent contract Kiti Hoegi so Bank of Canada project Kiti second quarter did percent the contraction in second quarter as expected economy 0.8% contract preliminary estimates preliminary estimates 0.1% growth second quarter GDP 0.8% grow bank of Canada date percent minus contraction bank of.
[00:07:50] Speaker B: Canada bank of Canada Ick point percentage points the Farka yes oh minus 0.1 minus 105 minus sorry bank of Canada minus 1.5 stat can Ali plus 0.1 within a matter of a day yes GDP numbers locked in final numbers bank of Canada they call data inputs indicators bank of Canada which it's quite telling.
[00:08:58] Speaker A: Preliminary estimates second quarter which 0.8% the growth this is being calculated based on Canadians oh based sectors economy 0.1% growth these are not based on sectoral growth so Most likely Stata second quarter the hone is 0.1% growth bank of Canada.
[00:09:56] Speaker B: It'S not just about the data it's about industries bank of Canada inflation numbers Job numbers total job numbers.
[00:10:24] Speaker A: Economy contract.
[00:10:25] Speaker B: Jobs cut Diane inflation Bank of Canada bank of Canada sets job numbers Inflation GDP numbers Bank of Canada chances 89% when you highlighted bank of Canada inflationary pressures.
[00:11:33] Speaker A: Economic weakening if it continues the tariffs inflationary upward pressure later on in.
[00:11:48] Speaker B: The show so bank of Canada create Karata overall economist second growth second quarter real estate the transportation sector goods producing sector especially mining, oil and gas.
[00:12:43] Speaker A: Sectors so manufacturing which you mentioned 0.7% growth April manufacturing 1.8% 0.7% manufacturing main reason inventory accumulation.
[00:13:11] Speaker B: Bank of Canada they trade.
[00:13:24] Speaker A: Uncertainty.
[00:13:38] Speaker B: Mexico the free trade Agreement.
[00:14:04] Speaker A: Economy already recession otherwise real estate.
[00:14:44] Speaker B: Bank of Canada contract annualized basis basis day in the second quarter.
[00:14:54] Speaker A: That'S more reflective of what's going on at the ground level.
[00:14:58] Speaker B: So.
[00:15:00] Speaker A: Direct cause and effect relationship economies are the second quarter with 0.8% so these numbers should reflect the ground reality, not the other way around.
1.5% contraction is 0.1% growth.
[00:16:05] Speaker B: Manufacturing harbor Ontario Ontario Sectoral tariffs Auto sector steel and aluminum so J manufacturing industry 0.7%.
[00:16:40] Speaker A: Yeah.
[00:17:10] Speaker B: Kararijada perhani Kyoki Trump Canadian producers Canada main Canada the export Copper copper concentrate Hoya Anodes, cathodes semi processed materials Starting tomorrow.
[00:18:01] Speaker A: Derivative products Pipe fittings, cables electrical components pipes, wires, rods, sheets, tubes unprocessed copper concentrate copper products it lands in the US.
[00:19:07] Speaker B: $105 million Copper wires.
[00:19:41] Speaker A: British Columbia mines Western Canada Western Canada.
[00:19:56] Speaker B: Europe Glencore PLC billion dollar the expansion recently announced.
[00:20:23] Speaker A: Donald Trump section 232 national security Donald Trump no surprises there Defense sector Defense equipment Copper copper manufacturing sector we owe disadvantage there.
[00:21:13] Speaker B: A new truth has been shared.
[00:21:17] Speaker A: Donald Trump.
[00:21:35] Speaker B: Economy of the future Copper related important phrase US Administration copper market moving forward.
[00:22:22] Speaker A: Yeah so can they see concentrate semi process.
[00:23:08] Speaker B: Producers could you industry observers divert Karna relatively easy Canadians.
[00:24:38] Speaker A: Steel, automobiles, pharmaceuticals, semiconductors lumber Donald Trump in their opinion in their judgment Aluminum steel automobile pharmaceuticals semiconductors and lumber.
[00:25:08] Speaker B: Steel aluminum automobiles and manufacturing European Union European Union pharmaceutical industry pharmaceutical supplier basically Trump.
[00:26:00] Speaker A: Ontario Donald Trump sectors.
[00:26:35] Speaker B: Exactly Japan Nalhoy for European Union Nalhoy.
[00:27:38] Speaker A: Energy.
[00:27:38] Speaker B: Products.
[00:27:41] Speaker A: South Korea the President Lee Jae Myung investment the announcement Donald Trump investment Donald Trump on top of that invest.
[00:28:17] Speaker B: Karma announcement South Korea protests this is not a good deal South Korean administration at least certainty trade relationship investments military equipment.
[00:29:18] Speaker A: Is this additional investment delegation to buy down these tariffs? I'm very interested to hear South Korea investment automobile companies South Korea so both electronics sector.
[00:30:44] Speaker B: Exactly products name.
[00:30:50] Speaker A: As it is we made a point LG Electronics battery manufacturing for storage capacity with Tesla.
[00:31:10] Speaker B: With Tesla yes Connect FM 91.5 News Takeaway segment Queensborough Malt especially month to month we sign up personal training proper guidance Mildew personal training Mangi Bot Pandia so Steelhouse Fitness free the which guidance Protein shake juice bar showers Queensborough mall new westminster 24 hour gym another Instagram page follow Karu Steelhouse Fitness CA that's Steelhouse Fitness Ca Trump late night on Eastern North America the eastern region economies in between India.
[00:33:55] Speaker A: Yeah Breaking news Aria K Mexico Denali Galbat Hoya Claudia shane bomb denali.
[00:34:15] Speaker B: August 1st is august 1st.
[00:34:23] Speaker A: I have just concluded a telephone conversation with the President of Mexico Claudia Sheinbaum which was Very, very successful in that more and more we are getting to know and understand each other.
The complexities of a deal with Mexico are somewhat different than other nations, some other nations. Because of both the problems and because of both the problems and assets of the border complex, we have agreed to extend for a 90 day period the exact same deal as we had for the last short period of time. Namely that Mexico will continue to pay 25% fentanyl tariff Canada 25% tariff on cars and 50% tariff on steel, aluminum and copper, USMCA compliant covered automobile US components.
So same deal.
[00:35:50] Speaker B: So.
[00:36:09] Speaker A: So. Additionally, Mexico has agreed to immediately terminate its non tariff trade barriers, of which there are many. We will be talking to Mexico over the next 90 days with the goal of signing a trade deal somewhere within the 90 day period of time or longer.
[00:36:24] Speaker B: Or longer or longer.
[00:36:31] Speaker A: Present at the meeting were Vice President J.D. vance, Secretary of State Scott Besant, Secretary of Treasury Scott Besant, Secretary of State Marco Rubio, Secretary of Commerce Howard Lutnick Jamison, Greer Bakisari, Namina Lekhane. There will be continued cooperation on the border as it relates to all aspects of security including drugs, drug distribution, illegal immigration into the U.S. thank you for your attention to this matter.
[00:37:05] Speaker B: Or longer. Wow.
No Dasmit Palai Paisi which are punishment Hojukani oh man.
Oil reserves develop Karandevaste Koi American company Pakistan's guitar company Hyundai collaboration which oil production maybe Pakistan India.
[00:38:28] Speaker A: They just concluded a deal with Pakistan will work together on developing their massive oil reserves let's take a pause here. Pakistan oil reserves proven oil reserves 0.02% maximum 0.03% Pakistan so for context Pakistan they coal 10 Saud million barrels domestic consumption Oil reserve for comparison Saudi Arabia they coal billion barrels Pakistan they call million barrels so proven oil reserves Pakistan they call not more than 0.03% of global Pakistan Donald Trump one of the massive oil reserves develop Karangi who knows they'll be selling oil to India someday because then Pakistan India offshore Arabian Sea to develop them together Proven oil reserves so maybe just maybe Pakistan the Foreign Minister Ishak Dar Ithya Washington DC we are very close to a deal with the United States fourth largest so maybe just maybe.
[00:41:38] Speaker B: Strategic positioning.
[00:41:44] Speaker A: India.
[00:41:50] Speaker B: Tariff dairy sector livelihoods Global South Brazil.
[00:42:36] Speaker A: Donald Trump Name post Pisces India My friend India they are my friends he is my friend can you believe it? Oh bricks they remember founding member.
[00:43:01] Speaker B: So.
[00:43:02] Speaker A: Can they bricks the view Member Anti US Block American dollar.
[00:43:28] Speaker B: American US Dollar the dominance.
[00:43:43] Speaker A: Rest of the world Rest of the world so global South.
[00:44:08] Speaker B: China, India the economy, foreign policy.
So that remains to be seen.
It's interesting to see Afghanistan abruptly infrastructure on the ground in Afghanistan a lot of the ground infrastructure.
[00:46:06] Speaker A: India Afghanistan There are dynamic that's between Russia US And.
[00:46:20] Speaker B: Pakistan Pakistan India impact in true sense Trump is very difficult to tell.
[00:46:47] Speaker A: Yes India US relationship pivotal mode see 1, 2, 3 agreement nuclear deal Obama.
[00:46:55] Speaker B: And Dr.
[00:47:03] Speaker A: Was it George Bush George Bush.
[00:47:04] Speaker B: Okay.
[00:47:05] Speaker A: I think George W. Bushy so George W. Bushesi yeah.
[00:47:10] Speaker B: Okay. Okay. Anyway.
[00:47:14] Speaker A: 1, 2, 3 agreement.
[00:47:24] Speaker B: 1, 2, 3 agreement those are signed in 2008 granted India access to international nuclear technology. So those are Obama it was. It was Barack Obama was it or was it nuclear material?
Yeah.
[00:48:30] Speaker A: So the main or nuclear Canada now we are a nuclear power. So America India comprehensive test band nuclear weapons are developed.
So that was the main bone of contention 1, 2, 3 agreement nuclear agreement.
That's exactly why it was a pivotal.
[00:49:12] Speaker B: Point President George W. Bush those are.
Those are.
You are right George W. Bush toward until the end of transfer of power.
So it had to be George Wikali Announcement UN General assembly the meeting Israel west bank prerequisites Canada.
[00:51:23] Speaker A: Yeah So Canada United Nations General Assembly Palestinian Authority Palestinian Authority west bank new control Kardini Jimmy Hamas Gaza control Karda west bank new control Khadiya Palestinian Authority with their Fatah party so election 2026 election Palestine.
[00:52:06] Speaker B: Yeah.
[00:52:07] Speaker A: So Palestinian Authority So can they view commit current democratic reforms Remaining hostages.
[00:52:48] Speaker B: So.
[00:52:59] Speaker A: Palestinian Authority west bank those are Chet democratic reforms.
[00:53:43] Speaker B: Meetings for some time in the future.
[00:53:55] Speaker A: It's no longer tenable.
[00:53:56] Speaker B: It's no longer tenable.
[00:53:57] Speaker A: Yeah so Israel will know of course Conservative Party of Canada Correct.
So see Conservative Party denounce NDP block Green Party of Canada of course former diplomats by the way Canada.
[00:55:18] Speaker B: Wow.
[00:55:19] Speaker A: Canada has just announced that it is backing statehood for Palestine that will make it very hard for us to make a deal with them. Oh Canada so that was.
That will make it very hard for us to make a deal with them.
[00:56:06] Speaker B: Trade agreement but on the contrary correct Kiti cancel right? He bought pencil so.
[00:56:59] Speaker A: You can announcement to Perla K.V. france Monk Jacob UK Vida Kedanda Palestin OC recognize Karna to Anu to see Kiki Karongi I don't mind menu you can alkoitrazn.
[00:57:41] Speaker B: Canada 35% tariff laguhana jada canada free trade agreement.
[00:57:52] Speaker A: Already.
[00:58:05] Speaker B: 94% 94% rate oh USMCA compliant.
[00:58:12] Speaker A: As of today Non compliant as of today Correct.
Yes Automobile sector non US parts today exemption Canada Mexico USMCA after all is trade deal Hagia Donald Trump Manan Chah Naman.
Thank you very much.
[00:59:22] Speaker B: Take care. Have a good day.
