GHY Tradelines

(Lawrence Martin — Globe & Mail)

A young John Diefenbaker once proclaimed that he would build a Canada that would be “all Canadian and all British.” Stephen Harper isn’t going that far, but his British bonding and his de-emphasis on American ties that were so conspicuous under Brian Mulroney’s conservatism are of considerable consequence. […]

When Mr. Harper took office in 2006, few were aware of his transatlantic interests and intent. At that time, given his Republican-like conservatism, we expected a closer alignment with the Americans. But his concept of Canada has a back-to-the-future look, and old-fashioned values are high on his list. […]

On questions of trade, Mr. Harper was blunt in an interview with Bloomberg TV last week, saying “we’d obviously like to see trade dependence on the United States fall.” Some has already taken place, he noted, but “I’d say we have to do a lot more. … It’s kind of shocking that when we came to office, in spite of the fact that Canada is one of the most trade-dependent advanced economies in the world, we had trade agreements with only five countries in the world.” There are now trade agreements with 14 countries, Mr. Harper noted, and “we’re negotiating with 50 others.” Read more here.
 

(Bridges Weekly)

Officials from the EU, U.S., and Japan have agreed to meet in Washington in October to find ways to reduce demand for China’s rare earth exports, according to both reports from the U.S. Department of Energy and a recent EU proposal. The plan comes in the wake of China’s recent decision to halt production of the minerals at three major mines in Jiangxi province, a move that is expected to cut global supplies and raise global prices. In addition to exploring options for reducing demand and ensure rare earth supplies, observers suggest that officials are likely to discuss their next move on the subject at the WTO.

The U.S. and Japan are the largest importers of China’s rare earth metals, which are critical ingredients for the manufacture of many high-tech, strategic, and green industrial goods. However, the threat to the EU might be the most critical, due to environmental restrictions it has imposed that may prevent it from opening up new domestic supplies. EU officials have already made clear their disappointment with China’s announcement in July that it would further tighten its rare earth quotas. Read more here.