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Sep 1, 2023 8:00 PM -

Online News Act could see Google, Meta pay combined $234 million to Canadian media

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Canadian federal government has put a price tag on how much it would like to see Google and Facebook spend under an act requiring the tech giants to compensate media for news articles. Federal officials estimate Google would need to offer $172 million and Facebook $62 million in compensation to satisfy criteria they're proposing be used to give exemptions under the Online News Act.

The criteria listed as part of a draft set of regulations would allow compensation provided by tech giants to be both monetary and non-monetary.While the guidelines do not specify what non-monetary contributions would count, officials say training and advertising could wind up meeting the criteria.The draft regulations laying out the implementation of the law are subject to public consultation.

However, in anticipation of the regulations Meta has already stripped Canadian news from its Facebook and Instagram platforms, while Google has made similar threats they've yet to act on.

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Canada Could Get Tariff Relief on Steel, Aluminum and Automobiles

Canada Could Get Tariff Relief on Steel, Aluminum and Automobiles

Canada could receive some tariff relief on steel, aluminum and automobiles under a new trade deal with the United States that is reportedly nearing completion. According to reports, Washington could reduce the current 50% tariff on some Canadian steel and aluminum exports to 25% as part of the agreement. However, the details have not yet been finalized, and the new rates are not expected to apply equally to all products. Different tariffs could be imposed on certain steel- and aluminum-derived products. Meanwhile, the top-line tariff on automobiles could reportedly be reduced from 25% to 15%.

Canada Confirms Trade Deal With U.S.; Details Expected Friday

Canada Confirms Trade Deal With U.S.; Details Expected Friday

Prime Minister Mark Carney has confirmed that Canada is moving toward a trade agreement with the United States, saying it will deliver the best possible deal across the country’s most important sectors. U.S. Ambassador to Canada Pete Hoekstra welcomed the progress and credited President Donald Trump for the development. Details of the interim agreement could be released by Friday, with Canada reportedly making progress on reducing sector-specific tariffs. The deal could help bring an end to the trade war that has continued between the two countries for the past year and a half.

Canada-U.S. Trade Deal: Trump Announces No New Tariffs, Auto Tariffs to Get Relief

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