The Canadian Parvasi - Issue 28

The International News Weekly MONEY/REAL ESTATE
January 12, 2018 | Toronto 18
What if Trump starts NAFTA pullout
The Canadian Press
WASHINGTON: As NAFTA
talks enter their most sensitive
phase, a fever of speculation
has broken out about
whether Donald Trump might
soon announce his intention
to withdraw from NAFTA —
and it's likely to last a while.
With only couple of
months left in the currently
scheduled rounds of talks,
Canada will be keeping an
ever-closer eye on the U.S.
president, who has repeatedly
said it might be necessary to
start the withdrawal process
in order to gain leverage and
win concessions.
Here's a brief guide to
what such a pullout announcement
would likely
mean.
— NAFTA survives, at
least for a while: The agreement's
withdrawal clause is
not an automatic-exit trigger.
It isn't like Brexit and
the European Union's Article
50. NAFTA's Article 2205 requires
six months' notice before
anyone can actually pull
out.
— Loonie drops: Goldman
Sachs projects a six-cent
drop in the Canadian dollar if
Trump announces a pullout,
and a more dramatic effect
on the peso. Mere speculation
about a withdrawal in news
reports this week caused a
momentary dip. Currency
markets can act as shock absorbers
in the event of trade
jolts, softening the impact of
tariffs.
— Lawsuit watch: A debate
is already raging within
the American legal community
about the constitutionality
of a president pulling out
of a trade agreement without
an act of Congress. Some insist
Trump has the authority;
others disagree. What everyone
does seem to agree on is
the likelihood of lawsuits. Behind
the confusion lies a few
historical contradictions: A
U.S. Constitution that gives
the president power over international
relations, but the
Congress power over trade;
court cases that uphold the
president's power over international
agreements, versus
others that say he can't contradict
established law. This area
of law hasn't been tested much
— it's pretty rare for a U.S.
president to be more hostile
to trade deals than Congress,
which is traditionally more
protectionist. It's unclear
what would happen to the
1994 U.S. law passed by Congress
implementing NAFTA,
which remains on the books.
— Mexico probably
walks: Insiders familiar with
the Mexican negotiators'
strategy are adamant: they
will leave the negotiating table
if Trump triggers Article
2205. The Mexicans have said
this publicly, and sources
there have been even more
explicit in private conversations.
— Canada probably
stays: The Canadian government
has been far cagier
when asked what it would
do next. But people familiar
with its intentions say it
would likely stay at the table
and keep talking.
— Trump's next decision:
Does he choose to
pause negotiations during
elections in Mexico and the
U.S., and resume talks after
a new Mexican government
is sworn in this December?
Stay at the table with whichever
party chooses to keep
talking? Turn the trilateral
negotiation into a bilateral,
if it's only the U.S. and Canada?
Or does he proceed to
killing NAFTA after the sixmonth
grace period?
— Zombie NAFTA: The
countries keep trading without
tariffs, the agreement's
dispute mechanisms keep
working, cross-border companies
can keep investing
and hiring anywhere, but all
with the knowledge that the
deal is half-dead and could
be buried any time after six
months. Without free trade,
the countries would be free
to apply their international
tariffs — they average 3.5 per
cent for U.S. imported products,
4.1 per cent in Canada,
and 7 per cent in Mexico,
though some products would
face much higher tariffs.
Loblaws' $25 gift cards not misleading: Court
Agencies
TORONTO: An Ontario judge
has ruled that it's too early to determine
the enforceability of Loblaw
Companies Ltd.'s policy that
consumers who receive a $25 gift
card from the company waive their
right to that sum in possible future
settlement money from a bread
price-fixing scheme class-action
lawsuit.
Ontario Superior Court of Justice
Edward M. Morgan dismissed
a motion challenging the terms of
Loblaw's gift card plan.
The company announced Monday
that registrants must agree to
a release saying they discharge Loblaw
(TSX:L), its parent company
George Weston (TSX:WN) and others
from relief to the extent of $25
in connection with their involvement
in an alleged bread price-fixing
arrangement from Jan. 1, 2002
to March 1, 2015.
Morgan said in his ruling that
classified
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he's not in a position to know what,
if any, an eventual settlement will
entail, so it's too soon to declare
the release enforceable or not.
Loblaw spokesman Kevin Groh
says the "ruling puts to rest the
nonsensical claim by class-action
lawyers that our $25 Loblaw Card
is misleading and confusing,"
when the company is trying to
put money in affected consumers'
MISSISSAUGA: Samsung Electronics
Canada has expanded the connectivity
and performance capabilities of its signature
curved display line-up with the
debut of its new CJ791 monitor, the first
curved monitor to feature Intel Thunderbolt
3 connectivity.
Unveiled at At CES 2018 on Wednesday,
the monitor is designed for entertainment
and business audiences.
Samsung says the 34-inch CJ791
model aligns single-source power and
processing speed with an exceptional
picture quality for a comfortable and
productive user experience.
Through a single Thunderbolt 3
cable, CJ791 users can link and dock
their monitor and laptop without extensive
wiring. The Thunderbolt 3 connection
provides processing speed of up to
40 Gigabits per second (Gbps) – a rate
nearly four times faster than current
USB alternatives¹ – allowing users to
hands quickly.
The law firm which brought the
action in front of the court, Strosberg
Sasso Sutts LLP, says the ruling
is a victory for consumers as
Loblaw will not be able to deduct
the gift card value from any future
settlement pay out "unless it demonstrates
that it is fair to consumers
as part of an overall resolution
of their price-fixing claims."
Tata Consultancy
gives 700% dividend
Agencies
MUMBAI: IT major Tata
Consultancy Services
(TCS) on Thursday declared
again a whopping
700 per cent dividend (Rs 7
per share of Re 1 face value)
for the third quarter of
2017-18.
The record dividend
for the third consecutive
quarter is in addition
to Rs 7 per share given
for the second and first
quarters in October and
July, taking the cumulative
payout to Rs 21 per
share or a whopping 2,100
per cent till December 31,
2017.
In a regulatory filing
on the BSE, TCS said the
Directors have declared
the third interim dividend
enjoy connectivity across a full ecosystem
of docks, displays and peripheral devices
including iOS laptops, USB type-C
laptops, and other desktop accessories
like storage drives or external graphics
of Rs 7 per equity share
of Re 1 each and it would
be paid to all the equity
shareholders in the company's
records as on January
23.
"The third Interim
dividend will be paid on
January 31," added the
filing.
The company's blue
chip scrip of Re 1 face
value, however, closed at
Rs 2,788.40 on the BSE at t
he end of Thursday's trading,
losing Rs 18.70 per
share from Wednesday's
closing price of Rs 2,807.10
and after opening at Rs
2,807.20.
The shares also quoted
a high of Rs 2,820.10 and a
low of Rs 2,781.90 during
the intra-trading sessions
on the BSE.
Samsung unveils new curved monitor
cards.
The Thunderbolt 3 interface also enables
the CJ791 to provide up to 85 watts
(W) of laptop charging power. (Press release)