Ontario Premier Agrees to Suspend Electricity Export Surcharge Amid US Trade Tensions

US-Canada Trade Developments

• 🤝 Ontario Premier Doug Ford and Commerce Secretary Howard Letnik have agreed to meet in person to discuss a renewed USMCA ahead of a reciprocal tariff deadline.
• ⚡ Ontario has agreed to suspend its 25% surcharge on electricity exports to Michigan, New York, and Minnesota.
• ⚠️ This suspension is seen as a potential breakthrough, though it's unclear if the White House will lower its threatened 50% tariffs in exchange.
• 💰 Doug Ford stated that if tariffs remain in place, Ottawa will respond with equivalent measures.

Ukraine Aid and Ceasefire Talks

• 🇺🇦 Secretary of State Marco Rubio is in Saudi Arabia discussing a potential ceasefire deal with Ukrainian officials.
• 🕊️ Crucially, the Ukrainians have agreed to a ceasefire, but must now present this potential deal to Russia.
• 💰 The U.S. has also agreed to resume military aid to Ukraine, lifting a temporary suspension.
• 📈 These developments, alongside the US-Canada trade news, have improved market sentiment.