Canada, US to launch formal talks to review their free trade agreement in mid-January
Toronto (AP): Canada and the US will launch formal discussions to the review their free trade agreement in mid-January, the office of Canadian Prime Minister Mark Carney said.
The prime minister confirmed to provincial leaders that Dominic LeBlanc, the country's point person for US-Canada trade relations, “will meet with US counterparts in mid-January to launch formal discussions," Carney's office said in a statement late Thursday.
The United States-Mexico-Canada trade pact, or USMCA, is up for review in 2026. US President Donald Trump negotiated the deal in his first term and included a clause to possibly renegotiate the deal in 2026.
Carney met with the leaders of Canada's provinces on Thursday to give them an update on trade talks with the US.
Canada is one of the most trade-dependent countries in the world, and more than 75 per cent of Canada's exports go to the country's southern neighbour. But most exports to the US are currently exempted by USMCA.
ALSO READ: Absence of teachers frustrates purpose of Right to Education Act: Allahabad HC
Trump cut off trade talks to reduce tariffs on certain sectors with Carney in October after the Ontario provincial government ran an anti-tariff advertisement in the US. That followed a spring of acrimony, since abated, over Trump's insistence that Canada should become the 51st US state.
Carney said earlier Thursday that Canada and the US were close to an agreement at the time on sectoral tariff relief in multiple areas, including steel and aluminum. Tariffs are taking a toll on certain sectors of Canada's economy, particularly aluminum, steel, auto and lumber.
Carney also said trade irritants flagged this week by US Trade Representative Jamieson Greer are elements of a “much bigger discussion” about continental trade. Greer said a coming review of the Canada-US-Mexico trade deal will hinge on resolving US concerns about Canadian policies on dairy products, alcohol and digital services.
Carney and the provincial premiers agreed to meet in person in Ottawa early in the new year.
Canada is the top export destination for 36 US states. Nearly USD 3.6 billion Canadian (USD 2.7 billion) worth of goods and services cross the border each day.
About 60 per cent of US crude oil imports are from Canada, as are 85 per cent of US electricity imports.
Canada is also the largest foreign supplier of steel, aluminum and uranium to the US and has 34 critical minerals and metals that the Pentagon is eager for and investing in for national security.
Carney said US access to Canada's critical ministers is not a certainty.
“It's a potential opportunity for the United States, but it's not an assured opportunity for the United States. It's part of a bigger discussion in terms of our trading relationship, because we have other partners around the world, in Europe for example, who are very interested in participating,” Carney said earlier Thursday.
Let the Truth be known. If you read VB and like VB, please be a VB Supporter and Help us deliver the Truth to one and all.
Real Madrid fines Valverde and Tchouaméni half a million euros each for altercation
Barcelona (AP): Real Madrid slapped players Federico Valverde and Aurélien Tchouaméni with half-a-million-euro ($588,000) fines on Friday for their altercation during practice.
The massive fines came a day after the midfielders tussled when the team trained. Valverde said in a post on social media on Thursday that no punches were thrown. But Valverde knocked his head on a table and he suffered a small cut that required a brief hospital visit.
On social media, Valverde initially called it a “meaningless fight” with a teammate and said “everything has been blown out of proportion."
His employers, however, considered it a significant enough breach of team discipline to nail both Valverde and Tchouaméni with fines that bite even the bank account of a top soccer player. The half-a-million euro penalties reflect the reputational damage the club was enduring in a chaotic end to a disappointing season.
In a statement, the 15-time European champion said its disciplinary action was concluded after both players expressed to the club “their complete remorse for what happened and apologized to one another.”
Madrid added they also apologized to their teammates, the coaching staff and club supporters, as well as showing their willingness to accept whatever disciplinary action the club deemed “opportune.”
Tchouaméni was back training with Madrid on Friday, two days before they play at Barcelona in a clasico. Madrid has to win otherwise Barcelona will be crowned La Liga champion.
After being notified of the fine, he posted a public apology to the club and its fans on social media.
“What happened this week in training is unacceptable,” Tchouaméni wrote. "I say this while thinking about the example we are expected to set for young people, whether in football or at school.
“Above all, I am sorry for the image we projected of the club.”
Valverde was not at practice due to the head knock.
Both players are set to play in the World Cup next month, with Tchouaméni playing for France and Valverde for Uruguay.
Chaotic end to a poor season
===================
The run-in between the players, who for seasons have played side by side in Madrid's midfield, came after they argued this week in previous training sessions. But tempers boiled over on Thursday. Spanish media was rife with reports that the players previously disagreed over the club's decision to let coach Xabi Alonso go after just months on the job.
It was not the only altercation involving Madrid players during training this week. Álvaro Carreras confirmed he was in a “minor” incident with a teammate. Spanish media said he and fellow defender Antonio Rüdiger got into a scuffle.
Álvaro Arbeloa, the coach who was promoted from Madrid's reserve team when Alonso was fired in January, will face tough questions on what went wrong inside the changing room when he gives a press conference on Saturday ahead of the clasico at Camp Nou.
Madrid is facing a second consecutive campaign without a major trophy amid rumors in the Spanish media that club president Florentino Pérez is considering bringing back Jose Mourinho to straighten out his underperforming team.
