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Federal Transport Minister Steven MacKinnon announced the referral on July 16. The strategy's first pillar is the Roberts Bank Terminal 2 project. The port handles 40 per cent of Canada's non-North American trade.
forbes.comFederal Transport Minister Steven MacKinnon announced Thursday that the Port of Vancouver Gateway Strategy has been referred to Canada's Major Projects Office for possible fast-tracking. The announcement came at a morning event attended by politicians and port officials. MacKinnon said the strategy supports Canada's goal of doubling exports to non-U.S.
Markets by 2035. , which will also be referred to the office for potential listing as a project of national interest, according to a federal government news release. The project, led by the Vancouver Fraser Port Authority, is a proposed three-berth container terminal at Roberts Bank.
It is expected to increase the Port of Vancouver's container capacity by 50 per cent and enable $100 billion of new container trade capacity annually. The port moves $1 billion in goods every day and handles 40 per cent of Canada's trade in goods beyond North America.
Chief Laura Cassidy of Tsawwassen First Nation said the project is located in the nation's traditional and treaty territory and is subject to hundreds of enforceable conditions designed to protect Tsawwassen interests.
She added that consent was based on this detailed work and that commitments cannot be weakened or set aside in the name of efficiency or expediency. Port president and CEO Peter Xotta said the relationship with Tsawwassen First Nation is core to how the port will move forward.
He described the announcement as game changing and said the Roberts Bank Terminal 2 project is ready to go, noting that land, marine, bulk and rail infrastructure is all needed.
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abcnews.go.comThe tariffs follow a yearlong Section 301 investigation that found unfair Brazilian trade practices. Exemptions cover coffee, beef, and several other categories. Brazilian President Luiz Inácio Lula da Silva called the move politically motivated.
investopedia.comUnited Airlines posted second-quarter earnings above Wall Street estimates and raised its full-year profit outlook to between $9 and $11 per share. Jet fuel prices rose 34 percent in July, adding nearly $6 billion in projected annual costs.
themarketherald.com.auUnitedHealth Group posted second-quarter results above estimates and lifted its full-year adjusted earnings guidance to $19.50-$20 per share. The company said it is managing elevated medical costs through membership reductions and AI tools.