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Trump lauds US economy in Davos, says little on climate woes – Lethbridge News Now

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Trump reminded the audience that when he spoke here in 2018 “I told you that we had launched the great American comeback.”

“Today I’m proud to declare the United States is in the midst of an economic boom, the likes of which the world has never seen before,” the president said.

American economist Kenneth Rogoff took issue with Trump’s comments, saying some of Trump’s claims about the strength of the U.S. economy are true. But Rogoff noted that the economy wasn’t doing badly when Trump took office. “It’s been a good 10 years and his three years probably better than expected,” Rogoff said, adding that he thought Trump was careful to keep his comments about climate change to a minimum to avoid getting booed.

Climate issues are a main theme at the forum and the phrase “Act on Climate” was written in the snow at the landing zone where Trump’s Marine One helicopter set down in Davos.

Late last year, the Trump administration began pulling the U.S. out of the landmark 2015 Paris climate agreement under which nearly 200 nations set goals to curb emissions of heat-trapping gasses that lead to climate change. Trump has called the Paris accord an unfair economic burden to the U.S. economy.

Trump’s speech was met with virtual silence by the audience, apart from a brief flurry of applause when Trump said the U.S. would join a World Economic Forum initiative to plant 1 trillion trees worldwide.

Climate activist Greta Thunberg, who has been criticized by Trump, said world and business leaders aren’t taking the threat of global warming seriously.

“Planting trees is good of course but it’s nowhere near enough,” Thunberg said.

Trump’s participation at the forum provided another conspicuous split-screen moment in his presidency. Before entering the hall to deliver his speech, Trump called the trial “disgraceful” and part of “the witch hunt that’s been going on for years.”

Asked whether Trump would tune in to the impeachment trial, White House press secretary Stephanie Grisham said in an email that Trump has a “full day” in Davos “but will be briefed by staff periodically.”

Trump spent nearly all of his approximately 30-minute speech describing U.S. economic gains under his leadership.

“America is thriving. America is flourishing and yes, America is winning again like never before,” Trump said before talking about a newly signed trade deal with China and a pending U.S. trade agreement with Mexico and Canada. He also spoke of record low unemployment, stock market gains and millions of people removed from the welfare rolls.

Nobel prize-winning economist Joseph Stiglitz criticized Trump for failing to address the climate emergency beyond a commitment that the U.S. will join the trillion trees initiative.

“He managed to say absolutely zero on climate change,” Stiglitz said. “Meanwhile we’re going to roast.”

Trump’s appearance at the forum ends Wednesday when he travels back to a Washington that’s consumed by the impeachment trial.

The Democratic-controlled House impeached the Republican president last month for abuse of power and obstruction of Congress after it was revealed that he had pressed Ukraine’s president to announce investigations into former Vice-President Joe Biden, a Democrat and a Trump political rival. Trump withheld foreign aid that Congress had approved for the Eastern European nation and dangled the prospect of an Oval Office meeting as leverage.

Trump denies any wrongdoing and argues that Democrats want to remove him from office because they know they can’t deny him reelection in November. Trump would be forced to leave office if convicted, but the Republican-controlled Senate is expected to acquit him.

Trump met Tuesday with the forum’s founder and the new European Commission president, Ursula von der Leyen, the first woman to hold the position. Trump zeroed in their first meeting on her reputation as a tough negotiator, saying that was “bad news for us.”

“Trade right now and a deal between ourselves and essentially Europe is something that we all want to be able to make,” Trump said.

Trump also was meeting Tuesday with the leaders of Switzerland and Pakistan.

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Associated press writers Jamey Keaten and Pans Pylas in Davos contributed to this report.

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Follow Darlene Superville on Twitter: http://www.twitter.com/dsupervilleap

Darlene Superville, The Associated Press

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Minimum wage to hire higher-paid temporary foreign workers set to increase

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OTTAWA – The federal government is expected to boost the minimum hourly wage that must be paid to temporary foreign workers in the high-wage stream as a way to encourage employers to hire more Canadian staff.

Under the current program’s high-wage labour market impact assessment (LMIA) stream, an employer must pay at least the median income in their province to qualify for a permit. A government official, who The Canadian Press is not naming because they are not authorized to speak publicly about the change, said Employment Minister Randy Boissonnault will announce Tuesday that the threshold will increase to 20 per cent above the provincial median hourly wage.

The change is scheduled to come into force on Nov. 8.

As with previous changes to the Temporary Foreign Worker program, the government’s goal is to encourage employers to hire more Canadian workers. The Liberal government has faced criticism for increasing the number of temporary residents allowed into Canada, which many have linked to housing shortages and a higher cost of living.

The program has also come under fire for allegations of mistreatment of workers.

A LMIA is required for an employer to hire a temporary foreign worker, and is used to demonstrate there aren’t enough Canadian workers to fill the positions they are filling.

In Ontario, the median hourly wage is $28.39 for the high-wage bracket, so once the change takes effect an employer will need to pay at least $34.07 per hour.

The government official estimates this change will affect up to 34,000 workers under the LMIA high-wage stream. Existing work permits will not be affected, but the official said the planned change will affect their renewals.

According to public data from Immigration, Refugees and Citizenship Canada, 183,820 temporary foreign worker permits became effective in 2023. That was up from 98,025 in 2019 — an 88 per cent increase.

The upcoming change is the latest in a series of moves to tighten eligibility rules in order to limit temporary residents, including international students and foreign workers. Those changes include imposing caps on the percentage of low-wage foreign workers in some sectors and ending permits in metropolitan areas with high unemployment rates.

Temporary foreign workers in the agriculture sector are not affected by past rule changes.

This report by The Canadian Press was first published Oct. 21, 2024.

— With files from Nojoud Al Mallees

The Canadian Press. All rights reserved.

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PBO projects deficit exceeded Liberals’ $40B pledge, economy to rebound in 2025

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OTTAWA – The parliamentary budget officer says the federal government likely failed to keep its deficit below its promised $40 billion cap in the last fiscal year.

However the PBO also projects in its latest economic and fiscal outlook today that weak economic growth this year will begin to rebound in 2025.

The budget watchdog estimates in its report that the federal government posted a $46.8 billion deficit for the 2023-24 fiscal year.

Finance Minister Chrystia Freeland pledged a year ago to keep the deficit capped at $40 billion and in her spring budget said the deficit for 2023-24 stayed in line with that promise.

The final tally of the last year’s deficit will be confirmed when the government publishes its annual public accounts report this fall.

The PBO says economic growth will remain tepid this year but will rebound in 2025 as the Bank of Canada’s interest rate cuts stimulate spending and business investment.

This report by The Canadian Press was first published Oct. 17, 2024.

The Canadian Press. All rights reserved.

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Economy

Statistics Canada says levels of food insecurity rose in 2022

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OTTAWA – Statistics Canada says the level of food insecurity increased in 2022 as inflation hit peak levels.

In a report using data from the Canadian community health survey, the agency says 15.6 per cent of households experienced some level of food insecurity in 2022 after being relatively stable from 2017 to 2021.

The reading was up from 9.6 per cent in 2017 and 11.6 per cent in 2018.

Statistics Canada says the prevalence of household food insecurity was slightly lower and stable during the pandemic years as it fell to 8.5 per cent in the fall of 2020 and 9.1 per cent in 2021.

In addition to an increase in the prevalence of food insecurity in 2022, the agency says there was an increase in the severity as more households reported moderate or severe food insecurity.

It also noted an increase in the number of Canadians living in moderately or severely food insecure households was also seen in the Canadian income survey data collected in the first half of 2023.

This report by The Canadian Press was first published Oct 16, 2024.

The Canadian Press. All rights reserved.

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