Use code TPM for up to 66% off at MyPillow.com

ADVERTISEMENT

$850 million worth of manufactured goods are ‘sitting idle’ every day that rail lines are blocked

Blockades across the country continue to put a halt on the Canadian economy as goods cannot be transported to where they need to be.

ADVERTISEMENT
Image
Sam Edwards High Level Alberta
ADVERTISEMENT
ADVERTISEMENT

Blockades across the country continue to put a halt on the Canadian economy as goods cannot be transported to where they need to be. Prime Minister Trudeau has said that he wants to come to a quick and peaceful solution but that does not seem very plausible at this point.

BMO Capital Markets senior economist, Doug Porter, said that the coronavirus has negatively affected the global economy and the rail shutdown is an added extra pressure for Canada’s economy according to Financial Post.

“The ultimate cost will depend on the duration of the shutdown, and we have plenty of recent evidence to make an early assessment,” said Porter. “The November CN strike, which lasted more than a week, ended up carving less than 0.1 ppts from GDP that month. However, this shutdown threatens to be more open-ended, with the situation ‘fluid.’”

Manufacturers are assuming that their revenues will also be negatively affected by the rail blockades.

Today, Maple Leaf Foods president and chief operating officer, Curtis Frank along with President of CKF Inc., Ian Anderson noted at a press conference that “every day the rail stoppages continue, $850 million worth of manufactured goods are sitting idle.”

Other guests at the conference include ArcelorMittal Dofasco, BB Résaux Électriques, Demers Ambulances, J.D. Irving LTD., Énergie Valero and more.

Chief Perry Bellegarde, the National Chief of the Assembly of First Nations was also scheduled to hold a press conference today in Ottawa with hopes of discussing the present Wet’suwet’en situation.

ADVERTISEMENT
ADVERTISEMENT
N/A by N/A is licensed under N/A

Join and support independent free thinkers!

We’re independent and can’t be cancelled. The establishment media is increasingly dedicated to divisive cancel culture, corporate wokeism, and political correctness, all while covering up corruption from the corridors of power. The need for fact-based journalism and thoughtful analysis has never been greater. When you support The Post Millennial, you support freedom of the press at a time when it's under direct attack. Join the ranks of independent, free thinkers by supporting us today for as little as $1.

Support The Post Millennial

Remind me in September

We will use this to send you a single email in September 2020. To find out what personal data we collect and how we use it, please visit our Privacy Policy

ADVERTISEMENT
ADVERTISEMENT
By signing up you agree to our Terms of Use and Privacy Policy
ADVERTISEMENT
© 2022 The Post Millennial, Privacy Policy