Good morning. This is Hanna Lee.
Prime Minister Mark Carney is meeting U.S. President Donald Trump in Washington, D.C., today, and the pressure is on for the Canadian leader to cut a deal of some sort with the mercurial president. But the pressure is mounting for Trump as well, as his tariff trade war continues. We'll get into that below.
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Pressure mounts for Donald Trump as tariffs bite deeper into American manufacturing
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(Mark Schiefelbein/The Associated Press)
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While Prime Minister Mark Carney faces pressure to cut a deal with U.S. President Donald Trump, there is increasing pressure on the Trump administration, too.
What's happening: As the trade war stretches on, American farmers, bourbon producers and automakers are clamouring for some kind of relief. Meanwhile, new polling shows an increasing share of the U.S. public believes the economy is on the wrong track. Some experts suggest Trump should agree to a deal now, as the costs of his trade war will become more apparent the longer it continues.
Looking ahead: A truce on the Canada-U.S.-Mexico Agreement may be prudent ahead of next year's U.S. midterms, but Republicans may not be ready for that, says Chris Sands of Johns Hopkins University. That means industries hit hardest by tariffs will be left lobbying for more support, and the cost of bailouts for those sectors is growing. For example, U.S. soybean farmers have been hit by a 20 per cent Chinese tax. Trump has said he'd use tariff revenue to help them — and estimates on that cost range from $10 billion US to $50 billion US.
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2 years into the war, these figures illustrate the scale of Israel's destruction of Gaza
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(Jehad Alshrafi/The Associated Press)
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For two years, Palestinians across Gaza have faced unrelenting bombardment, mass hunger and recurring displacement as Israeli fighting continues in the territory.
What's happening: Israel's offensive following the Hamas-led Oct. 7, 2023, attack has so far killed more than 67,000 Palestinians, according to the Gaza Health Ministry. While U.S. President Donald Trump's peace deal appears to be progressing in recent days, bombing continues in Gaza.
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What else: About 60 per cent of all buildings have been destroyed or damaged since Oct. 12, 2023, Oregon State University researchers found. Meanwhile, just 14 out of 36 hospitals are still partially functioning. The bombing has generated nearly 42 million metric tonnes of debris — an estimated 14 times greater than the combined total from all conflicts over the past 16 years, per the United Nations.
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BEHIND THE SCENES
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Fraud is a known problem in Canada's crypto ATM industry. What are operators doing about it?
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(Laura Pedersen/CBC)
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Nicole Brockbank, enterprise reporter, CBC News Toronto |
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You might have seen a cryptocurrency ATM before in a convenience store or cafe. But did you know Canada has more of them per capita than any other country in the world? My colleagues and I spent this summer digging into the industry. Authorities here and abroad are increasingly concerned about how the machines, which operate legally in Canada, are being used by fraudsters.
To get a sense of the scale of the problem, I filed a bunch of access-to-information requests with police and Canada’s financial intelligence agency, FINTRAC, looking for statistics on fraud losses through crypto ATMs and for internal reports on the machines. I didn’t have much luck on the stats front, but I obtained a FINTRAC report that said crypto ATMs have become the main method fraudsters are using to get the money from their victims in Canada. That became the backbone of our three-part series; the second part was published today.
We spoke with former crypto ATM company employees and operators about how the industry is addressing fraud. Tomorrow, in Part 3, we’ll look at how Canada seems to be falling behind its peers in attempting to tackle this issue.
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