The massive market transformation this month that some on Wall Street called a "once in a decade opportunity" might have just been a one-off technical move because of taxes.Marketsread more
The Pentagon will deploy U.S. forces to the Middle East on the heels of the attack on Saudi Arabian oil facilities, United States Secretary of Defense Mark Esper announced...Defenseread more
CNBC did a deep dive through the most recent Wall Street research to find stocks that analysts say are underappreciated.Marketsread more
Shares of MasterCard are up 46% this year, and 1120% since 2011, getting a boost from the strong U.S. consumer.Investingread more
CNBC sat in on an "empathy training" at Amazon PillPack's Somerville offices, which is part of new hire orientation.Technologyread more
Trade with China is the 'big unknown' for the Federal Reserve as it decides how best to support the U.S. economy, says Council on Foreign Relations Director of International...Futures Nowread more
Lobbying experts said the visit is likely an attempt to be in lawmakers' ears as they consider legislation that would impact Facebook.Technologyread more
Yardeni Research's Edward Yardeni believes the U.S. economy is picking up steam.Trading Nationread more
Iran's audacious drone and cruise missile attack on Saudi Arabia's oil producing facilities has provided a critical test yet for the Trump administration's foreign policy. A...Politicsread more
Chinese trade negotiators suddenly canceled a visit to meet U.S. farmers after they wrapped up trade talks in Washington this week.Marketsread more
Relations between the two countries turned rocky after Canadian authorities in December arrested Meng Wanzhou, Huawei's chief financial officer. The U.S. charged Meng with fraud linked to alleged violations of Iran sanctions. China, in what's widely seen as a politically retaliatory move, subsequently detained several Canadians and blocked shipments of canola from a major Canadian company.
Complicating the situation is continued tension between the United States and China. Canada is a close ally of the U.S. and has been accused by China's state-run media of helping Washington humiliate Beijing.
Morneau, speaking to CNBC's Nancy Hungerford on Saturday, said the U.S.-China relationship is integral to how his country can move forward with Beijing. But Washington and Beijing have halted high-level talks, and any progress between Canada and China appears stalled for now, he said.
"Generally, what we can say quite clearly is the idea that we're going to put people in jail around effectively a trading issue is just inappropriate. There's no way for us to conduct business over the long term — that's been clearly communicated," the minister said at the G-20 Summit and Ministerial Meetings in Japan.
"I can't say that I necessarily have a sense of optimism, because we're at an impasse. It's a difficult moment," he added.
China's cancellation of canola shipments from Canada also doesn't make sense, according to Morneau, adding that he's concerned Beijing could extend the same treatment to other products from his country.
"I don't want to speculate on what might be next but we don't think that ... the stoppage of canola trade is really one that's done on grounds that make sense," he said.
"And of course we're concerned with the spectra of other products being either delayed at the border or in some way taken out of the trading relationship," the minister added. "This is a real concern."
Trump had threatened to apply 5% tariff on all U.S. imports from Mexico starting June 10, saying the Mexican government had failed to address his concerns over immigration. Trade warned at the time that the new tariff could derail the ratification of the United States-Mexico-Canada Agreement (USMCA), which is intended as an updated version of the North American Free Trade Agreement.
Now that Trump t has said he's not going ahead with the tariff on Mexico, the USMCA will now have "a clear path" to ratification by all three countries, Morneau said.
"We're pleased," he said. "We think it's obviously better for our trading relationships and good for the ratification."