Canada is considering tightening its border with the United States to curb the spread of coronavirus, Prime Minister Justin Trudeau said in an interview Friday.
“We’re in the midst of coordinating with the Americans, obviously, on our borders, on our actions. We’ll continue to evaluate what we can do and how we can keep Canadians in security and we won’t close the door on any idea,” Trudeau said in an interview with Radio-Canada.
Trudeau is in self-isolation with his wife, who recently tested positive for COVID-19. He did not offer details about what kind of additional restrictions Canada is considering on its 5,500-mile border with the U.S. or any implications for the movement of goods.
Coronavirus has been relatively contained in Canada, with 153 confirmed cases. But the spread is increasing along with cancellations of major events and restrictions of public gatherings.
Any border restrictions that impact the movement of goods would hit Canadian trucking companies and their drivers the hardest, since they handle the majority of cross-border U.S.-Canada freight.
“I’d be interested in knowing what tightening the border entails. But the supply chain must remain intact,” Shawn Girard, CEO of Quebec-based cross-border carrier Energy Transportation Group, told FreightWaves.
Trucks moved the bulk of the C$750 billion (US$560 billion) in merchandise trade between the U.S. and Canada in 2019.
The Canadian government has moved cautiously in imposing travel restrictions in response to the coronavirus pandemic and has yet to take any significant steps to limit the flow of goods.
While freight volumes continue to be strong in Canada, according to FreightWaves’ SONAR platform, some segments of the transportation and logistics industry are being impacted.
“It’s terrible, but we’re going to keep going as long as we can,” David Clements, CEO of Toronto-based Starline, told FreightWaves. Starline operates a fleet of tractors and 150 trailers for the special events and the TV and film production industry.
Event cancellations are taking a mounting toll, Clements said, while the film and TV productions remain stable, he said. “We’re being careful with what we do from a safety standpoint.”
qzxlxkeqoj
ptnbgytcnseycrzyiouadtmwtoadbf
Doc
Our Canadian government, a collection of Communists and terrorists, would love to close the border to commerce. They are doing nothing at Roxham Road, however, where 50,000 undocumented immigrants from third world countries cross into Canada yearly. They are immediately taken plush hotels and put on our health care plan and given welfare. If they want to tighten up the border, start at Roxham Road, Justin.
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! UNITE , CONQUER , & YOU'LL PROSPER ! IMHO
I saw the Quebec government state that Trudeau has to do something about that Roxham issue last night in their emergency points concerning the COVID 19 issue .
Quebec is pushing Ottawa hard . That provincial government is more on the ball during this COVID 19 outbreak than the Canadian government is .
Be patient , many things are going to change quickly .
IMHO
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! UNITE , CONQUER , & YOU'LL PROSPER ! IMHO
With all this panic going on I believe the next sector to get hit hard will be the US & Canadian real estate sector(housing & commercial) .
People who have their houses for sale will be reluctant to have them visited & and those looking for homes will postpone visiting as well . Furthermore , due to the Bank of Canada’s emergency rate cut a week after its recent rate cut , the Bank is showing too much vulnerability . If I were shopping for a big ticket item with the intention to have the purchase financed I would hold off .
The BOC should have waited till their next meeting to cut further . I wouldn’t refinance just yet neither . I would wait for them to cut further . I think many American’s jumped the gun and refinanced their mortgages too quickly .
Recently I stated to be vigilant regarding 20 year treasuries(Bonds) . They’ve taken a big negative hit lately .
Anyways , we are in interesting times to say the least .
For the record , Icahn is shorting commercial real estate which I believe is a freaking good move .
Quote:
“Billionaire investor Carl Icahn told CNBC on Friday he expects the U.S. commercial real estate market will crumble, much like the broader housing market collapse of 2008.”
That’s quite a statement .
Icahn said he is shorting the commercial mortgage bond market and it’s his “biggest position by far.”
He continues to say , quote :
“You have a bunch of mortgages … so the banks went out and loaned money against a lot of shopping malls, office buildings, hotels and retail,” Icahn said. “It’s all credible institutions doing it again.”
The banks sold mortgages on commercial real estate “and then, when they did those mortgages, [the banks] sliced and diced them and put them in something called a ‘CMBX,’ an index,” Icahn said. The banks then sold bonds against these mortgages to clients. Icahn expects shopping malls and others in commercial real estate will default on these loans.
“A lot of these bonds now are in grave danger,” Icahn said. “It’s like selling insurance to someone who’s going to go to the electric chair in a couple of months.”
Be vigilant !
In my humble opinion ………..
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! UNITE , CONQUER , & YOU'LL PROSPER ! IMHO
Interestingly enough the leading CMBX Bookrunner was Citigroup . When looking at Citigroup’s stock chart one can notice what appears to be a rising wedge pattern from the September 2011 low up to the January 2020 high . I’ll label it Wave C within Wave 4 . Since January 2020 price collapsed with a thrust down out of the rising wedge which is typical behavior . I now expect price to potentially rise and retest the bottom of the rising wedge in Citigroup around $57ish before falling furthermore towards a typical first price target which would be near the 2011 price low, within it’s wave 5 continuation of a corrective multi decade pattern that first began at the peak in the year 2000 .
In my humble opinion …………
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! UNITE , CONQUER , & YOU'LL PROSPER ! IMHO
Furthermore , since 2018 and throughout 2019 I stated that it was my belief that the NBER would declare a full economic recession between the 4th quarter in 2020 & the 1st quarter 2021 .
Apparently some economists in Canada are starting to agree with my forecast in Canada .
March 13 2020
Quote :
“Economists predict recession coming due to COVID-19 and plunge in oil prices
TORONTO — A recession is coming later year as the economy is derailed by the impact of COVID-19 and a plunge in oil prices, economists said Friday.
Royal Bank of Canada forecasts the economy will grow at an annualized pace of 0.8 per cent in the first quarter, then contract in the second and third quarters of the year.
RBC is forecasting an annualized decline of 2.5 per cent in the second quarter and 0.8 per cent in the third quarter. Two consecutive quarters of negative growth is considered a recession.”
“CIBC echoed the RBC comments in its own report that Canada is also likely on the brink of a recession.
“We expect to see output dropping in both the second and third quarters in the US and Canada,” CIBC said in its report.
The bank says fiscal and monetary stimulus will cushion the downside.
“But Canadians won’t really be out shopping again, and business confidence won’t roar back, until we have the virus under control, a better treatment, or a vaccine,” CIBC said.”
End quote .
The only difference is that they are blaming the cause on the coronavirus while I do not . I had no idea about a contagious disease outbreak that would occur in late 2019 in 2018 up to and throughout the third quarter in 2019 .
IMHO !
Kim
Panic buying is creating empty shelves at the retail end . If trucks stop moving stock will not be replenished at that time panic will be beyond control.
Noble1 suggests SMART truck drivers should UNITE & collectively cut out the middlemen from picking truck driver pockets ! UNITE , CONQUER , & YOU'LL PROSPER ! IMHO
For now in Canada trucks and other means of transportation are not allowed to stop moving(shut down) .
Anyone else is allowed to voluntary self isolate except those in transportation .
Quote from the premier in the province of Quebec in Canada :
“We do not foresee any food shortages,” Legault said, noting truck and airline and ship personnel are exempt from the call for voluntary isolation. “It’s important that people not worry.”
Quoted from article titled :
Coronavirus: Quebec closes daycares, elementary, high schools, CEGEPs and universities
Stephen Webster
This going to be very bad. Many truck drivers insurance will not cover any medical bills outside of their own province. This the reason that better protection for truck drivers should be a priority. The current insurance companies do cover claims when needed. I have over 120 people come to me since January 24 of 2020 tell me that my claim after work accident is normal as well my claim after a windstorm hit my farm. My house was condemned and the insurance company stalled. I have seen claims where the house burned down with owner inside and not settled 2 years later. I know of many cases where truck drivers ended up homeless after getting sick or injured in the U S . Trucking companies need to have a plan in place to cover medical costs before sending truck drivers into the US from Canada.
Stephen Webster
Not cover the claims