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Tariff pause | Buying Canadian | Washing onions?
Top of the morning! Careful, it's slippery out there! Gusty winds today, high 0.
MORNING NEWS SCRAMBLE
Pause pressed
Donald Trump is holding off hitting Canada and Mexico with tariffs for at least 30 days. Canada has told the President we’ll have 10,000 people working on the border to stop drugs and illegal migrants. Trudeau also says he’ll appoint a fentanyl “czar”, will list Mexican cartels as terrorists, and will launch a joint “strike force” to fight organized crime and money laundering.
Doug Ford holds off
Ford says he’s no longer cancelling a $100-million high speed internet deal with Elon Musk’s Starlink as an additional retaliatory measure for the tariffs. He made the pledge earlier on Monday but changed his mind when the tariffs were paused for 30 days. You’ll also be able to still get American booze at the LCBO… for now.
On the other side of the border…
U.S. producers are preparing to feel the pain of counter-tariffs if they do kick in. One group in particular are the bourbon makers of Kentucky who make 95% of the world’s supply, and pump $9-billion a year into the state’s economy. People in the state elected the president by a 30-point margin.
Loonie whiplash
The Canadian dollar dropped below 68-cents U.S. yesterday on news tariffs were coming, but then surged by almost two-cents after the phone call that led to the tariff pause. Overall, our dollar is still down 4% since President Trump was re-elected.
Still want to buy Canadian? Read those labels!
We have a 30 day reprieve, but that tariff threat is still looming over us. We can have some sense of control by buying Canadian. But it can be complicated. Reading the label is key - and looking for that maple leaf!
On the provincial campaign trail
🟦 PC Leader Doug Ford is campaigning on $10 billion in employer supports like tax deferrals, relief and credits to help weather the tariff storm.
🟥 Liberal Leader Bonnie Crombie says she’d create a Fight Tariffs Fund to allow Ontario businesses to borrow money at lower rates. She’s also making it clear that the election needs to be about than tariffs, with health care being a top issue too.
🟧 NDP Leader Marit Stiles says she’d “tariff-proof Ontario” by working with industry to diversify their markets, reduce internal trade barriers, and promote Ontario-made items.
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KEEP THE CHANGE
Variable on the rise
The Financial Post reports that several mortgage lenders say around half of mortgage borrowers are now choosing floating rates in anticipation rates will come down even more. That compares to last year when only 14% of borrowers were choosing the variable option. Another advantage of variable rate mortgages cited in the report is that it’s easier to qualify for one given how the government’s stress test calculation works.
$700 a month on gas and groceries for a family of 7?
Money.ca uses an example of a family of 7 that spends just $700 a month on gas and groceries to build out some suggestions for how to stretch your budget. Coupon clipping, collecting points, buying store brands and frozen fruits and vegetables all make the list. Still, $700 a month for a family that size seems extremely tight these days!
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HEALTHY START
Do you wash your onions?
If not, you might want to think about it. AllRecipes.com reports that most experts they spoke with think you should be washing them, skin and all, even if you plan to peel them. According to one expert in foodborne illness, if you don’t wash them, "you can dirty your cutting board, hands, and knife, possibly drawing microbes onto the parts you will eat when you begin slicing and dicing.”
Break out the olive oil!
A recent Harvard study found that people who consumed 7 grams (half a tablespoon) of olive oil a day had a 28% lower risk of dementia-related death. The oil has been well regarded for years due to its anti-inflammatory and anti-oxidant benefits.
AND… ANOTHER THING!
National Homemade Soup Day
February 4th is National Homemade Soup Day, and we’ve got a list of the 20 top-rated soups from All Recipes so you can make yourself a warm, comforting bowl on this mid-winter’s day!
Have a terrific Tuesday! Thanks for subscribing to Cockadoodle News!
