《每日加人报》25年7月11日

SLooking to Scrap Outdated Regulations (G&M) This week, c Source: Statistics Canada, JefferiesJohn Aiken,CFA*IEquityAnalyst(416) 847-7376 ljaiken@jefferies.comJoe Ng, CFA * IEquity Analyst(416) 847-7396 ljng4@jefferies.comAria Samarzadeh, CFA * IEquity Analyst(416) 847-7398 I asamarzadeh@jefferies.com Jefferiesa report by the CMHC. Meanwhile, inventories have more than doubled and prices fallen in thoseregions. As a result, condo owners who had hoped to bank on the appreciation of the condo value,and pull out the money as a down payment to upgrade to a larger home, 'the money is just notthere anymore".Please see important disclosure information on pages 8 - 13 of this report.This report is intended for Jefferies clients only. Unauthorized distribution is prohibited. 9e JefferiesMacroeconomic/GlobalTrump Says U.S. Will Impose 35% Tariff on Canadian Goods Starting August 1 (FP) The Financialbrinkmanship with Canada on Thursday, declaring that the U.S. would impose a tariff of 35% onCanadian goods starting Aug. 1. "As you are aware, there will be no Tariff if Canada or companiesan open letter addressed to Prime Minister Mark Carney,which he posted on his Truth Social account.Trump said the tariff would apply "separate"from sectoral tariffs already in place and that, shouldCanada retaliate with additional tariffs, "Whatever number you choose to raise them by, will be addedfor a new security and economic deal since early May, with both parties initially setting a deadline forU.s. his government "has steadfastly defended our workers and businesses." "We will continue to doso as we work towards the revised deadline of August 1," added Carney, in a post on X.the Globe and Mail reported that the federal government has launched a red-tape review to reduceregulatory burdens across its departments and agencies. The Treasury Board announced thatministers will undertake reviews of regulations in their own portfolios and propose ways to eliminateoverlap with provincial regulations, that hurt the economy, the Treasury Board said in a news release.Ministers are expected to report back with their findings within 60 days. Businesses have longlamented that regulatory hurdles, including the layering of red tape across levels of government, stiflenumber of federal regulations imposed on businesses increased dramatically over the span of 15finds regulatory requirements roseby 37% between 2006 and 2021.The increase is estimatedto havesector over that time frame. Labour productivity, which is defined as output per hour worked, was alsofor the period of 2006 to 2021. For more details from the Statistics Canada report, see "RegulatoryAccumulation, Business Dynamism and Economic Growth in Canada", February 10,2025.Canada Will Fight Trump's Copper Tariff, Joly Vows (CTV News) Yesterday, CTV News reported thatCanada will fight back against U.S. President Trump's 50% tariffs on copper imports, Industry MinisterMelanie Joly said on Thursday. "We'll fight against it. Period," said the minister, without getting intospecifics. On Wednesday evening. Trump vowed on Truth Social the tariff would come into forceon August 1. President Trump heralded the metal as the 'most used material by the Department ofDefense!" in his social media post, promising to bolster an American copper industry to dominate theworld. According to Natural Resources Canada, the U.S. was the country's largest copper importerCanada's exports of copper and copper-based products were valued at s9.3 billion. Chile, Canada andPeru accounted for more than 90% of the United States' refined copper imports last year, accordingto the U.S. Geological Survey. Ms. Joly said her team had not seen details of President Trump's plan,but that she had already spoken with representatives of prominent mining companies Glencore andTeck Resources.Canada SeeksPact withSoutheast AsianCountriestoDiversifyTrade(Reuters)Yesterday,Reutersreported that Canada is seeking to finalize a free trade deal with Southeast Asian nations, as part of apush to expand into new markets, and in a response to the U.S. tariffs. Foreign Minister Anita Anandsaid Canada intends to continue a multilateral trade relationship with the 10-member Association ofPlease see important disclosure information on pages 8 - 13 of this reportThis report is intended for Jefferies clients only. Unauthorized distribution is prohibitec Jefferiesagreement, Ms. Anand told Reuters in an interview, following her meeting with counterparts from theASEAN bloc in the Malaysian capital."it is complex but we are very much looking forward to it beingcompleted as soon as possible," she said, without providing further details. Ms. Anand said the ASEAN-nations. Beyond trade, Canada will also work with ASEAN on energy, food security, digital economyand artificial intelligence, she added.Weak Condo Market Means Tough Choices for Potential Move-Up Buyers (CP) Yesterday, theCanadian Press highlighted that since 2022, condo apartment sales have dropped