Berliner Boersenzeitung - Growing trucker protest raises fears for Canada economy

EUR -
AED 4.074348
AFN 78.016446
ALL 99.632691
AMD 430.125276
ANG 2.001452
AOA 1022.185011
ARS 1059.19379
AUD 1.663304
AWG 1.996663
AZN 1.890141
BAM 1.95546
BBD 2.24231
BDT 132.706945
BGN 1.95546
BHD 0.417727
BIF 3207.842712
BMD 1.109257
BND 1.442349
BOB 7.673667
BRL 6.209738
BSD 1.110507
BTN 93.299791
BWP 14.748438
BYN 3.634369
BYR 21741.442931
BZD 2.238511
CAD 1.506205
CDF 3153.618884
CHF 0.935032
CLF 0.037926
CLP 1046.498195
CNY 7.863419
CNH 7.869682
COP 4622.996862
CRC 583.298665
CUC 1.109257
CUP 29.395318
CVE 110.245847
CZK 25.053246
DJF 197.765643
DKK 7.467192
DOP 66.448456
DZD 146.879483
EGP 53.689673
ERN 16.638859
ETB 127.467256
FJD 2.461225
FKP 0.86358
GBP 0.84473
GEL 2.984335
GGP 0.86358
GHS 17.401977
GIP 0.86358
GMD 77.648405
GNF 9597.332687
GTQ 8.591507
GYD 232.349635
HKD 8.646827
HNL 27.519219
HRK 7.618478
HTG 146.624527
HUF 394.086268
IDR 17147.398392
ILS 4.13438
IMP 0.86358
INR 93.164136
IQD 1454.847254
IRR 46705.278687
ISK 152.600954
JEP 0.86358
JMD 174.369707
JOD 0.786135
JPY 157.897273
KES 142.98516
KGS 93.403678
KHR 4524.214023
KMF 493.069075
KPW 998.331474
KRW 1485.040811
KWD 0.338779
KYD 0.925439
KZT 532.537484
LAK 24532.738008
LBP 99450.422807
LKR 331.782361
LRD 216.562377
LSL 19.696178
LTL 3.275349
LVL 0.670979
LYD 5.287081
MAD 10.781927
MDL 19.323643
MGA 5045.123527
MKD 61.524312
MMK 3602.824416
MNT 3769.255622
MOP 8.914251
MRU 43.799391
MUR 50.981885
MVR 17.027519
MWK 1925.765443
MXN 22.165457
MYR 4.803643
MZN 70.853853
NAD 19.696178
NGN 1780.535853
NIO 40.882898
NOK 11.888077
NPR 149.280066
NZD 1.796514
OMR 0.426676
PAB 1.110507
PEN 4.212368
PGK 4.396236
PHP 61.830417
PKR 309.345658
PLN 4.285893
PYG 8578.509684
QAR 4.047997
RON 4.974801
RSD 117.007673
RUB 99.832656
RWF 1492.140775
SAR 4.164333
SBD 9.259888
SCR 15.236253
SDG 667.222339
SEK 11.428845
SGD 1.446143
SHP 0.86358
SLE 25.343537
SLL 23260.535519
SOS 634.689737
SRD 32.153491
STD 22959.386371
SVC 9.717312
SYP 2787.04244
SZL 19.690579
THB 37.43082
TJS 11.827445
TMT 3.893493
TND 3.371114
TOP 2.599771
TRY 37.601053
TTD 7.526692
TWD 35.541495
TZS 3020.675228
UAH 45.516193
UGX 4125.283328
USD 1.109257
UYU 44.852208
UZS 14112.548274
VEF 4018342.815906
VES 40.653047
VND 27304.368252
VUV 131.69322
WST 3.106944
XAF 655.843063
XAG 0.03972
XAU 0.000444
XCD 2.997824
XDR 0.824757
XOF 655.843063
XPF 119.331742
YER 277.702966
ZAR 19.802451
ZMK 9984.650719
ZMW 29.179931
ZWL 357.180396
  • NGG

    -0.3700

    67.62

    -0.55%

  • GSK

    0.5400

    43.67

    +1.24%

  • RELX

    0.3100

    46.2

    +0.67%

  • AZN

    0.0500

    83.05

    +0.06%

  • BP

    -0.4500

    31.9

    -1.41%

  • RBGPF

    58.7100

    58.71

    +100%

  • RYCEF

    -0.0300

    6.07

    -0.49%

  • CMSC

    0.0600

    25.02

    +0.24%

  • RIO

    -0.6800

    59.71

    -1.14%

  • SCS

    -0.6100

    13.23

    -4.61%

  • VOD

    -0.2200

    9.97

    -2.21%

  • BCC

    -0.6600

    124.13

    -0.53%

  • BCE

    -0.2000

    35.75

    -0.56%

  • CMSD

    0.1000

    25.04

    +0.4%

  • JRI

    0.0300

    13.12

    +0.23%

  • BTI

    0.3200

    38.61

    +0.83%

Growing trucker protest raises fears for Canada economy
Growing trucker protest raises fears for Canada economy

Growing trucker protest raises fears for Canada economy

The two-week-long Canadian truckers' protests against Covid rules threatens the country's economic recovery, ministers said Wednesday, with growing demonstrations blocking a vital trade link with the United States.

Text size:

More protesters have been joining the blockade of the Ambassador Bridge between Windsor and Detroit in solidarity with protests bringing the center of the capital Ottawa to a halt.

"We're all tired of this pandemic but these illegal blockades must stop," Industry Minister Francois-Philippe Champagne tweeted.

The suspension bridge, he noted, "is the most important land crossing in North America and is critical to our supply chains. 1000s of workers and businesses depend on it for their livelihoods."

More than 40,000 commuters, tourists and truck drivers carrying US$323 million worth of goods travel across the span each day.

Scores of Canadian and American chambers of commerce and industry associations demanded the bridge is cleared, saying "as our economies emerge from the impacts of the pandemic we cannot allow any group to undermine the cross-border trade."

Another key trade link between Coutts, Alberta and Sweet Grass, Montana has also been clogged by protesters for several days.

- 'Freedom Convoy' -

"This is a dramatic situation that is impacting the wellbeing of Canada's relationship with the United States and impacts immensely how business is able to conduct its operations," University of Ottawa professor Gilles LeVasseur told AFP.

He said that Ottawa and Washington must intervene.

"We're all tired, we're all frustrated" after two years of pandemic restrictions, Prime Minister Justin Trudeau told reporters in the capital, adding that Covid inoculations are "the way we're going to get to the other side."

More than 80 percent of Canadians have received two doses, while 50 percent of adults also got a booster.

The so-called "Freedom Convoy" began in January in western Canada -- launched in anger at requirements that truckers either be vaccinated, or test and isolate, when crossing the US-Canadian border.

Having snowballed into an occupation of the Canadian capital, the protest has sparked solidarity rallies across the nation and abroad.

Canadian Vehicle Manufacturers' Association president Brian Kingston warned that the Ambassador Bridge blockade was "threatening fragile supply chains already under pressure due to pandemic related shortages and backlogs."

Michelle Krebs, a senior analyst with Autotrader in Detroit, explained that North American assembly plants rely on timely parts deliveries across the suspension bridge.

The auto sector, she said, "is a significant portion of the economy and an important portion of consumer spending -- it's the second largest purchase people make -- and it's been hampered in the past year."

"We had felt we had hit the low point for inventories and production disruptions last October and we started seeing improvements, but this (protest) could be a setback if it lingers."

Canada's transport minister, Omar Alghabra, after hearing directly from automakers, warned Tuesday that the blockade could have "serious implications on our economy."

- Covid rules easing -

Several provinces this week announced a gradual lifting or loosening of Covid restrictions.

Saskatchewan went the furthest, saying it would end all checks on gatherings, as well as masking and vaccine requirements for indoor shopping and dining. Its premier, Scott Moe, said the benefits of Covid measures no longer outweighed the costs to society.

In the streets of Ottawa, hundreds of heavy trucks continued to block traffic and rev their engines, filling downtown with diesel fumes. A Canadian court on Monday ordered them to stop incessant honking that upset residents and made sleep difficult.

 

But, he added: "We have to see the same thing in other provinces now."

Politicians "are starting to realize that the Covid thing is wearing out," echoed fellow protester Mark Harrigan.

(P.Werner--BBZ)