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Five things to watch for in the Canadian business world in the coming week:
Trade
The U.S. Supreme Court will hear arguments this week from businesses and states that say President Donald Trump’s use of a national security statute to justify his tariffs is illegal. The hearing combines two cases pushing back on Trump’s so-called “reciprocal” tariffs and the fentanyl-related duties on Canada, Mexico and China that include goods not covered by the Canada-U.S.-Mexico Agreement. The hearing will not deal with the sectoral tariffs on Canadian steel, aluminum, autos and other specific industries imposed by the U.S. under other laws.
Federal budget
Finance Minister François-Philippe Champagne will deliver the federal budget on Tuesday. Champagne has argued the threats to Canada’s economy posed by U.S. tariffs and global trade disruptions will require a “generational” level of investment.
Air Canada results
Air Canada is expected to release its third-quarter results on Wednesday before markets open. The results for the three-month period ended Sept. 30 will include the three-day work stoppage by more than 10,000 flight attendants in August that shut down operations and caused more than 3,000 flight cancellations.
Jobs numbers
Statistics Canada will release its latest reading on the jobs market on Friday when it is expected to publish its labour force survey for October. The Canadian economy added 60,000 jobs in September as the unemployment rate held steady at 7.1 per cent.
Enbridge results
Enbridge Inc. will report its third-quarter results on Friday before financial markets open. The U.S. Army Corps of Engineers approved last month the company’s plans to reroute an aging oil pipeline around a northern Wisconsin tribal reservation. Enbridge has been using Line 5 to transport crude oil and natural gas liquids between Superior, Wisc., and Sarnia, Ont., since 1953.
The Canadian Press
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