US to impose 25% tariff on India, Bank of Canada leaves interest rate unchanged, BC developers urge policy change from government.

[00:00:02] Speaker A: And now News Takeaway. [00:00:18] Speaker B: Connect FM 91.5 News Takeaway segment Good morning Vijayji Good. [00:00:25] Speaker A: Morning Connect Null Connectway Good morning. [00:00:31] Speaker B: International Day of Friendship thank you for being such a good friend. International Day of Friendship is International Day of Friendship. [00:01:02] Speaker A: Copy paste likewise. [00:01:09] Speaker B: So happy happy International Day of Friendship Best friend Those are people that you can choose. International Day of Friendship Donald Trump. [00:02:43] Speaker A: They are going to pay 25% yeah, I think so. India has been they are my friends. He is my friend. They ended the war with Pakistan on my request so Donald TRUMP Washington D.C. you're not treating us right Business Council this is premature. [00:04:46] Speaker B: Well into the fall Trump. [00:05:21] Speaker A: Yeah so military equipment the energy products their largest buyer of Russian energy along with China Donald Trump so can they please remember while India is our friend, we have over the years done relatively little business with them because their tariffs are far too high among the highest in the world and they have the most strenuous and obnoxious non monetary trade barriers of any country Trade barriers T B Vada country the C V also they have always always bought a vast majority of their military equipment from Russia and are Russia's largest buyer of energy along with China at a time when everyone wants Russia to stop the killing in Ukraine. All things not good all things not good India will therefore be paying a tariff of 25% plus a penalty for the above starting on August 1st. Thank you for your attention to this matter. Make America great again. [00:06:51] Speaker B: Military equipment international platforms senior Indian ministers world oil supply. [00:07:51] Speaker A: We have a massive trade deficit with. [00:07:52] Speaker B: India. [00:08:06] Speaker A: So deficit. [00:08:19] Speaker B: It was an obnoxious number it was 145% American producers especially iPhone Apple Apple production India 44% of the smartphones 44% of them second quarter smartphones are number percentage China share. [00:09:05] Speaker A: Second quarter India share India lead supplier smartphones to the US Vietnam that we share Vietnam second quarter which Chauvy percent. [00:09:56] Speaker B: India which a phone producer well 3%. [00:10:47] Speaker A: Will work to extend the the tariff pause Donald Trump name August 1st deadline is August 1st deadline your tariff. [00:11:47] Speaker B: Economies 2nd quarter 2nd quarter. [00:12:10] Speaker A: Donald Trump 2nd quarter so 2Q so 2nd quarter 2Q GDP just out 3% way better than expected yeah too late must now lower the rate interest rate announcement yeah so no inflation let people buy and refinance their. [00:12:43] Speaker B: Homes bank of Canada interest rates announcement it was widely expected bank of Canada so Overnight lending rate 2.75% prime rate 4.95% bank of Canada Monetary policy report Monetary policy Report bank of Canada the expectation on the quarters which economic growth trade negotiations. [00:13:58] Speaker A: Monetary policy report so current scenario as of 27 July 2nd quarter date percent contract the second half of this year demand consistent GDP 1.8% so almost 2%. [00:14:58] Speaker B: So current scenario second half of the year Steel, aluminum, auto sector. [00:16:16] Speaker A: Yeah so Canadian economy resilience robust growth Exports they were pulled forward economic activity per second quarter export pull forward second quarter economy second quarter second half percent growth but then 2027 can they be wage growth economy excess supplies excess supply supply demand supply excess supply situation that has increased since January. [00:17:37] Speaker B: Businesses with the profitability J Business is the profit job super impact already Prana Banaya Prana Mangayas production transportation sector impact financial sector so ripple effect okay. [00:18:10] Speaker A: So current scenario GDP escalation hoagie tariffs the de escalation hoagie sort of Akal contraction Can they did a second quarter second half economy grow Karjagi can they feel a contraction Second third to fourth quarter second half. [00:19:00] Speaker B: But bank of Canada prediction negotiations we extend negotiation bank of Canada the statement bank of Canada the statement independence American markets Canada the dependence LNG so I think that is one of the reasons. [00:20:59] Speaker A: It's. [00:20:59] Speaker B: A liquid oxygen medal Though liquid is a gene or oxygen is a marna. [00:21:07] Speaker A: Liquid oxygen gas, nitrogen, hydrogen clean hydrogen yeah, of course so bank of Canada announcement so inflation yes yes so inflation Current scenario inflation excluding taxes underlying inflation Current scenario the inflation. [00:22:31] Speaker B: Bank of Canada the target range is uncertain Economy inflation Bank of Canada Ace point of view signal the point. [00:23:05] Speaker A: Upward pressures the downward pressures that inflation Both are at play right now so they are of offsetting each other so a Bank of Canada so tariffs cut they would reduce the upward pressure inflation. [00:23:39] Speaker B: So. [00:23:43] Speaker A: Interest rate high uncertainty where Canadian economy ongoing pressures on underlying inflation Upward pressures downward pressures if a weakening economy puts further downward pressure on inflation economy and upward pressure and upward pride Price pressures from trade disruptions are contained Then there may be a need for a reduction in the policy interest rate bank of Canada Then there may be a need for a reduction in the policy interest rate so J all thing all other things remaining the same. [00:25:33] Speaker B: Price stability Canadians maybe bank of Canada expectation here already economy which excess supply businesses bank of Canada I think last week Canadians. [00:26:30] Speaker A: Plus Canadians majority of the products Canadian products Canada. [00:27:05] Speaker B: Trump the default setting. [00:27:20] Speaker A: Social liquid oxygen liquid can you say? [00:28:02] Speaker B: I think. I think the real character is ajit villainous roles 1960s 70s passenger vehicles become 100% new vehicles new vehicles. [00:29:39] Speaker A: Edibar did industry minister name Elni Jolie Galkaya can they be Sarkar already? Can they Dehriya can they see a saskar situation plus ev sales numbers right level 20% he less than 8% electric. [00:30:28] Speaker B: Vehicle 0 mission vehicles 20% zero emission model year already 2026 manufacturers so it does not start January 1, 2026 mod model year analysts auto manufacturers zero emission vehicles plug in hybrids jho v percent v percentokatiya 0 mission basically kharchakarnapana internal combustion engineering zero emission vehicles navaj Bare internal commercial engineering up to a million vehicles. [00:32:16] Speaker A: Plus electric vehicles so sales the numbers already cut Investments announced Subsidies announced Stellantis Fox wagon plant Bande Honda billion dollar EV plants Ontario which postpone Karta delay Stellantis electric door charger program delay Karta Fair Ford Anu is not so cool Definitely they're working on it. [00:33:51] Speaker B: Sales. [00:33:51] Speaker A: Mandates Right level data. [00:34:15] Speaker B: Housing Federal Housing Minister Gregor Robertson the real estate market Living West Bank Amacon Polygon Federal Housing the infrastructure Minister Gregor Robertson Foreign investors Real estate market real estate sector especially JDV Koi Nami Usari Honey JDV Koi Nami building Bani Hondiya and during those four years right deposit structure friendly investors Downtown. [00:36:32] Speaker A: Foreign investment Taxes Metropolitan areas foreign investment Puritana bank construction cost, municipal fees plus Donald Trump tariff policies erratic market Housing supply development of Varakhandiya Foreign investment Bank new builds foreign investment Jaridah Housing supply. [00:38:06] Speaker B: Bank developer financing Foreign investors One. [00:39:01] Speaker A: Might think already buyer's market Then why do we keep focusing on increasing the housing supply? Do we need that much supply Housing supply. [00:39:51] Speaker B: And especially downward movement financing the system Families requirements Exactly Families priorities investor the priority different. [00:41:02] Speaker A: Assessment Work permit holder University College International students Work permit holders Same is true for condos so condos. [00:42:11] Speaker B: Investors know Foreign investors know real estate There are property transfer, taxi economy resource projects or real estate sector Government the Galne Sahil Premier Nalispari Galhorisik and this speculative environment Banjway Kijali Munafak Horne property Lake Flip Kharki Munafakamaijan gina lokana controlled 3 canal investor no market. [00:43:35] Speaker A: Development cost charges. [00:43:45] Speaker B: Floating LNG. [00:43:50] Speaker A: LNG the floating term. [00:43:51] Speaker B: LNG Floating LNG LNG the floating terminal. [00:43:58] Speaker A: So LNG Canada. [00:44:12] Speaker B: LNG Canada Donald Trump basically Kadevi Adani Haiki. [00:45:07] Speaker A: Nakar Nakari. [00:45:20] Speaker B: Reliable partner yes Electricity transmission lines Transmission lines recently earlier this year earlier this year. [00:45:59] Speaker A: Project A Canada the Samaj Lovi largest LNG project which has majority stake of First Nation First Nation 51 50.1% the owner is project 49.9% pipeline. [00:46:26] Speaker B: Majority indigenous. [00:46:27] Speaker A: Ownership a cleanest LNG terminal Canada the cleanest LNG terminal. [00:46:38] Speaker B: Project tons of LNG Canada project scheduled start that is going to be late 2028. [00:47:57] Speaker A: Dependence Fossil fuels electricity transmission clean a project fossil fuel liquefaction current LNG natural gas into LNG. [00:48:26] Speaker B: So long term sustainability public health the community well being. [00:48:52] Speaker A: Why can't we walk and chew at the same why can't we do both yeah infrastructure infrastructure we are seeing LNG pipeline investment school. [00:49:20] Speaker B: As a population public community well being the way to see. [00:50:06] Speaker A: So BC green party for the longest time Canadians like minded partners values. [00:52:11] Speaker B: International day of friendship thank. [00:52:14] Speaker A: You very much personal calorie development I'm really grateful for that thank you very. [00:52:36] Speaker B: Much it's a two way street my brother it's not the other way around. [00:52:47] Speaker A: I think to get better with each. [00:52:54] Speaker B: Passing day yeah and that's what I. [00:52:57] Speaker A: Think that's the thank you very much. [00:53:06] Speaker B: Thank you International day of friendship. [00:53:27] Speaker A: Members thank you Vijay thank you for being. [00:54:21] Speaker B: The person you are same to you. [00:54:23] Speaker A: My brother thank you.