{"id":116073,"date":"2026-07-04T13:31:06","date_gmt":"2026-07-04T13:31:06","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/116073\/"},"modified":"2026-07-04T13:31:06","modified_gmt":"2026-07-04T13:31:06","slug":"whats-next-for-usmca-the-u-s-dairy-industrys-interest-in-canada-and-a-shrinking-public-service-business-and-investing-stories-for-the-week-of-july-4","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/116073\/","title":{"rendered":"What\u2019s next for USMCA, the U.S. dairy industry\u2019s interest in Canada, and a shrinking public service: Business and investing stories for the week of July 4"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Steel workers work at the ArcelorMittal Dofasco steel plant in Hamilton, Ont.Nathan Denette\/The Canadian Press<\/p>\n

Getting caught up on a week that got away? Here\u2019s your weekly digest of The Globe\u2019s most essential business and investing stories, with insights and analysis on the biggest headlines, stock tips, personal finance strategies and more.<\/p>\n

Alberta proposes southern route for new West Coast pipelineOpen this photo in gallery:<\/a><\/p>\n

Prime Minister Mark Carney and Alberta Premier Danielle Smith announce a proposed pipeline from Alberta to the B.C. coast in Calgary on Thursday.Todd Korol\/The Canadian Press<\/p>\n

The Alberta government has proposed a southern route<\/a> for a new oil pipeline to the West Coast, which will be planned and built by the federally owned Trans Mountain Corp., working with Pembina Pipeline Corp. <\/p>\n

Prime Minister Mark Carney and Alberta Premier Danielle Smith announced the plan Thursday evening in Calgary. It represented a stark turnaround for the Premier, who had insisted that a conduit to the Pacific should be routed to B.C.\u2019s northern coast.<\/p>\n

The project is a major component of a push by the federal government to increase exports around the world in the face of a trade war with the United States and to make peace with Alberta over resource development.<\/p>\n

USMCA wasn\u2019t renewed. What\u2019s next for the North American trade deal?Open this photo in gallery:<\/a><\/p>\n

Trucks coming from Mexico enter the U.S. to an inspection station after crossing the border in Otay Mesa, Calif.SANDY HUFFAKER\/AFP\/Getty Images<\/p>\n

North American trade has entered a new era<\/a>. On Wednesday, U.S. President Donald Trump declined to renew the United States-Mexico-Canada Agreement for another 16 years.<\/p>\n

Ottawa and Mexico City asked for the 16-year extension. Washington refused. Economics reporter Mark Rendell looks at whether anything changes right away, what\u2019s happening with trade negotiations and what non-renewal mean for the Canadian economy and businesses.<\/p>\n

The U.S. dairy industry wants more access to the Canadian market. Here\u2019s why, explained in five chartsOpen this photo in gallery:<\/a><\/p>\n

Noah Berger\/The Associated Press<\/p>\n

The White House\u2019s demands are clear: Trump\u2019s administration wants Ottawa to change the way import licences are allocated so that Canadian retailers will be able to import American dairy products.<\/p>\n

Ottawa has so far refused to comment on whether it will be changing dairy import restrictions. To understand why Washington might make dairy trade a USMCA linchpin, Kate Helmore uses five graphs to tell the story of a U.S. milk industry<\/a> facing increased production, stagnant domestic demand and a competitive global market where other big players face the same pressures.<\/p>\n

Inside the fastest-growing Canadian AI startup you\u2019ve never heard ofOpen this photo in gallery:<\/a><\/p>\n

Turbopuffer is probably the fastest growing tech company in Canada right now, with lots of buzz around it.Photo illustration by Yannis Davy Guibinga\/The Globe and Mail<\/p>\n

Turbopuffer is an unusual Canadian startup<\/a>.<\/p>\n

The company, started by Simon Eskildsen and Justine Li, has devised a new, efficient way for AI systems to search for information when serving up answers, a crucial feature for AI to be useful, while slashing costs for an industry that can\u2019t stop losing money. It\u2019s won Turbopuffer some massive customers, including Anthropic, the company behind Claude, now worth nearly US$1-trillion.<\/p>\n

Turbopuffer might sit more naturally in San Francisco rather than a few blocks from Parliament, but while a lot of Canadian talent decamps for Silicon Valley, Mr. Eskildsen has no interest in leaving. If only he could sell everyone else on Ottawa.<\/p>\n

The federal government\u2019s economic footprint is shrinking at the fastest year-over-year pace in 30 years<\/p>\n

In last year\u2019s federal budget, Prime Minister Mark Carney promised to shrink the public service and boost defence spending.<\/p>\n

We\u2019re starting to see how those policies are playing out across Canada\u2019s economy.<\/p>\n

When Statistics Canada this week released gross domestic product numbers for April, which showed a healthy rebound after months of sluggish growth, the agency noted the public sector contributed to the lift. Federal public administration, excluding defence, posted its first month-over-month increase since December, it said. And at the same time, federal defence real GDP is rising at its fastest pace ever<\/a>.<\/p>\n

\nThis week marked the end of the first half of 2026 \u2013 and what a half-year it was for stock investors. In a global market bubbling with excitement over artificial intelligence, which of these stock indexes performed best of all?\n <\/p>\n

a. Canada\u2019s S&P\/TSX Composite Index<\/p>\n

b. The tech-heavy, U.S.-based Nasdaq Composite Index<\/p>\n

c. South Korea\u2019s KOSPI Composite Index<\/p>\n

d. Japan\u2019s Nikkei 225 Index<\/p>\n

c. Just about every major stock market index did well from Jan. 1 to June 30, but the standout star<\/a> was the red-hot KOSPI Composite Index in South Korea. It soared 97 per cent as the country\u2019s big computer chip makers rocketed higher. By comparison, the S&P\/TSX Composite (up 9.9 per cent), the Nasdaq (up 12.6 per cent) and the Nikkei (up 40 per cent) looked like ho-hum propositions. <\/p>\n

Get the rest of the questions from the weekly business and investing news quiz<\/a> , and prepare for the week ahead with The Globe\u2019s investing calendar<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Open this photo in gallery: Steel workers work at the ArcelorMittal Dofasco steel plant in Hamilton, Ont.Nathan Denette\/The…\n","protected":false},"author":2,"featured_media":116074,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[136,902,903,904,905,17,484,137,906],"class_list":["post-116073","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-appwebview","tag-aud-growth","tag-aud-headline","tag-aud-url","tag-business-roundup","tag-canada","tag-noastack","tag-yesapplenews","tag-yessnap"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/116073","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=116073"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/116073\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/116074"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=116073"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=116073"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=116073"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}