Saturday, April 19, 2025

Federal Election 2025

Long lines at polling stations across Canada as advance voting begins

By The Canadian Press
April 18, 2025 

Elections Canada signage is pictured near an advance polling station in Ottawa, on Friday, April 18, 2025. THE CANADIAN PRESS/Spencer Colby (Spencer Colby/The Canadian Press)

OTTAWA — Canadians packed polling stations and stood in long lineups in cities across the country on Friday as advance voting in the upcoming federal election officially got underway.

A queue snaked outside the voting centre on Smythe Street in Fredericton, as people waited, some with their dogs, others with young children in strollers or holding their parents’ hands.

Some were in line for more than 45 minutes to cast their vote on a sunny and cool spring afternoon.

“It feels more important to vote and make sure we keep having the country that we want,” said Nicole Bent, who is going to Nova Scotia for a few weeks and decided to vote early so she didn’t miss the chance to cast her ballot.

Bent said the election feels different this time because of recent actions and statements from United States President Donald Trump.


She voted Liberal.

“It’s voting for the man, not the party. Which man we want in there,” said Bent, referring to party leader Mark Carney.

Mark Kunkle, who also voted in Fredericton, said he runs his own business and the first day of voting seemed like a quiet and good day to go to the polls.

“Well, all elections are important, but in this particular case, it’s pretty, pretty important because the future (of the country) is going to be decided,” said Kunkle, who came to the poll with his dog.

Bill Randall, who said he’ll be voting Liberal, left the queue after seeing how long it was. He said he would come back the following day.

“I really believe that Prime Minister Carney is the kind of solid thinking person who we need at the helm in this particular time, especially, and I am concerned about some of the policies or leanings of the Progressive Conservative leader,” he said.

But at an advance poll in Whitby, Ont., east of Toronto, retired police officer Guy Service said he hoped his vote could end ten years of Liberal government, which he blames for the housing crisis and restricting freedoms and rights.

“I saw a lot of people that were excited to vote for the first time, a lot of people that haven’t voted before, and even people who didn’t agree with each other kind of we talked about in line and, you know, no one beat each other up,” Service said of the ambience inside the polling station.

Jane De Guzman, who came to vote in Whitby with her husband, said she voted for the Liberals because of Carney, not the party.

She said he is an economist, not a career politician.

“I would like to give him a chance to try and prove himself,” De Guzman said. “I feel that he is the right person to defend Canada against all of Trump’s tariffs nonsense.”


Another Liberal voter, Matthew Gorman, was less concerned about U.S. threats.

“I think what we need to worry about most is less about what the U.S. is doing, and more about what we can do as Canadians to make our country better,” he said as he waited outside for his partner to finish voting while minding their three dogs.

Annette Virtue, from Woodstock, Ont., said she will be voting Liberal in this election. Virtue says she plans to take part in advanced voting this weekend in hopes of avoiding long lines.

Virtue said she voted early in the provincial election.

“It’s fast,” she said.

Tim Lobzun, who drove almost 50 minutes from Ingersoll, Ont., for a Carney rally in Brantford, Ont., on Friday evening, said he’s voting early just to cross it off his list of things to do.

“Just to get it over with,” said Lobzun, who is a longtime Liberal and who ran as a party candidate in the 2011 federal election.

Lobzun said the timing of his vote might be different if he wasn’t sure who to cast a ballot for, but he’s decided.

Meanwhile in East Vancouver, Rod Moore was in line for an advance poll on Friday afternoon. Moore said he wasn’t sure what to expect, but he showed up because he’s going to be working out of town on election day.

“It’s probably going to be a heavier turnout this year,” he said. “Because everyone’s paying attention.”

Moore said the “cross-border” situation has people in his community talking politics more than he’s ever experienced.

The riding’s been held by the NDP for decades, currently by Jenny Kwan, but Moore doesn’t think that a vote for the party this time around is a wise choice.

“I think voting NDP, forgive me for saying this to anybody that might find this offensive, is a waste of a vote because it’s a two-horse race, like, very clearly,” he said.

The line moved steadily into the hotel, with some voters saying they waited about 90 minutes and others beating the spring heat with ice-cream bars and slushy drinks from a nearby Dairy Queen.

In one Ottawa riding, voters will see an exceptionally long ballot in Carleton, where 91 names appear. The oversized ballot includes two columns of names listed alphabetically. The incumbent in the riding is Conservative Leader Pierre Poilievre.

Elections Canada says it’s the second time that a ballot has had 91 names on it. The last was during a 2024 Montreal-area byelection in LaSalle--Emard--Verdun. Because of the number of candidates, Carleton results may take longer to report.

An Elections Canada spokeswoman told The Canadian Press that staffing levels are similar to those in past elections, but there are more advance polling locations this time than in 2021.

The advance polls run daily through the long weekend, including Monday, and are generally open from 9 a.m. to 9 p.m. in each jurisdiction.

Voters will need to bring accepted forms of ID, which could include voter information cards, bank statements, drivers licenses or birth certificates.

People can also vote early at any Elections Canada offices any day before April 23, or vote by mail.

The deadline to register to vote by mail is April 22.

Elections Canada says once someone applies to vote by mail they cannot vote at advance polls or on election day.

Nearly five million people voted at advance polls in the 2019 election, and 5.8 million did so in the 2021 campaign.

Hina Alam and Sharif Hassan, The Canadian Press

With files from Sidhartha Banerjee in Montreal. Hina Alam reported from Fredericton, Sharif Hassan from Whitby, Ont., Catherine Morrison from Brantford, Ont., and Darryl Greer from Vancouver.

This report by The Canadian Press was first published April 18, 2025.


Tom Mulcair: Some hard lessons learned by Carney and Poilievre from the English debate

CTV NEWS
Published: April 18, 2025 

Tom Mulcair is a former leader of the federal New Democratic Party of Canada between 2012 and 2017, and a columnist for CTVNews.ca.

Mark Carney largely resisted the predictable onslaught from his opponents during the English leaders’ debate on Thursday night.

He was helped by a boneheaded move by the hopeless Leaders’ Debates Commission that allowed fake news outlets into the room.


Any difficult patches Carney may have experienced were pushed to the bottom of the page in post-debate analysis, owing to the moronic eruption of right wing media that was supposed to help Poilievre. Instead, they unintentionally helped Carney by becoming the news.

Post-leaders’ debate scrums cancelled due to security concerns

The major distraction caused by pro-Poilievre ‘independent media’ became the number one topic in headlines. Quebec’s largest circulation newspaper, the Journal de MontrĂ©al, even used an English word in a headline: “Shitshow.” (Full disclosure, I write a weekly column for the Journal.)

But Poilievre wasn’t alone in being hoisted by the petard of those who were supposed to be there to help him.

Somehow, someone in Carney’s camp came up with the bright idea of having him use his one and only question to Poilievre to try to corner him on the issue of security clearance.

Here’s a primer on that one: When Trudeau made an absolute shambles of the issue of foreign interference in Canadian elections, he was on the ropes like never before. It was, in my view, the beginning of the end of his time as prime minister.

Trudeau’s elves had cobbled together their big ‘Aha!’ riposte against Poilievre. They attacked him for not applying for and receiving a security clearance to be allowed to view the ‘evidence’ about MPs who might be involved in helping foreign powers stick their noses in Canadian politics.

It was a spurious attack and Poilievre was completely right, constitutionally and institutionally, to simply say no. He didn’t want his hands tied in any way and one of the conditions of looking at those files was that he would’ve been barred from talking about the information he’d been given.

All MPs are beholden to their voters. The Leader of His Majesty’s Loyal Opposition has an even higher duty, that of holding the government to account. Poilievre didn’t want to compromise that obligation and, in my view, correctly refused.

Of those who accepted, Elizabeth May and Jagmeet Singh notably spoke about what they, respectively, hadn’t and had seen in the reports. So much for deep secrets. 

Complete coverage of federal election 2025

It’s worth noting that after stonewalling and trying to hand the stinking mess off to former GG David Johnston, Trudeau was finally forced to create a Commission of inquiry under Mme. Justice Hogue. She had access to everything and her report warned of potential dangers, but was markedly short on specific cases of skullduggery by MPs.

I have a particular take on all of this having been opposition leader for several years during Stephen Harper’s majority government.

Harper was a tough cookie but he also understood and respected parliamentary traditions.

When there were serious security issues that were brewing, he’d follow a longstanding practice and (wait for it…) talk to me!

I didn’t need to be told it was secret, the prime minister had reached out to share information so I could carry out my role as the security issue rolled out. That’s how the game is supposed to be played.

Poilievre was able to rebut the question and its implications about his loyalty to our institutions. His answer included a reference to my publicly stated position on this issue, which I’ve held since day one.

Both Carney and Poilievre learned a tough lesson during the English debate. Be wary of sycophants who want to curry favour with their very bad ideas.

Contributor

Carney platform promises $130B in new spending, deficits until 2029

By Mike Le Couteur
 April 19, 2025 


Liberal Leader Mark Carney is greeted by supporters prior to departing from Montreal, Friday, April 18, 2025. THE CANADIAN PRESS/Christinne Muschi

Mark Carney’s plan for Canada includes $130 billion in new spending which will see the country run deficits until at least the fiscal year 2028-2029.

Entitled “Unite, Secure, Protect, Build”-- the platform also commits more than $18 billion of spending on national defence, putting Canada on track to “exceed our NATO target by the year 2030,” according to policy experts who briefed reporters.

Part of those expenditures include new submarines and additional icebreakers for the Royal Canadian Navy, and the purchase of “Canadian-made airborne early warning and control aircraft.”

Here is total deficit breakdown:2025-26: $62.3B
2026-27: $59.9B
2027-28: $54.8B
2028-29: $47.8B

The Liberal platform does show a $222 million surplus in the operating budget at the end of the four-year term, as promised by Carney. The Liberal leader contends these measures will “grow our economy and offset the impacts of Trump’s tariffs,” according to the Liberal platform document.


A government led by Mark Carney promises to prioritize Canadian contractors in defence procurement – including the Canadian Aerospace industry. The Liberals also promise to “Establish Buy Canadian” standards for federal infrastructure funding while also maximizing Canadian steel, aluminum, and forestry products.

As the tariff war with the United States looms large over this federal election, U.S. President Donald Trump’s name appears eight times in the Liberal platform, a nod to the persistent threat posed by tariffs from the U.S.

Carney is also promising to protect Canada’s agriculture industry by promising to exclude all supply-managed sectors out of trade negotiations with the U.S. The Liberals say this will help protect Canadian jobs in those sectors including dairy, poultry, and eggs.

Health care will also see significant investments with $5.4 billion over four years, $4 billion of which will be spent on infrastructure. According to the platform the money will be spent to build hospitals, clinics and renovate community health care infrastructure.

“It’s time to build hospitals so that Canadians have access to the care they need,” says the platform. While health care is a provincial jurisdiction, a Carney government pledges to work with provincial and territorial governments to accelerate the work and “cost-share these investments”.

A Carney-led government promises to also add “thousands of new doctors to Canada’s health care system” by increasing medical school and residency spaces while also building new medical schools.

The Liberals also pledge to work with provinces and territories to streamline the credential recognition system for internally trained doctors and nurses “so that qualified health care professionals already living here can contribute to our health care system,” according to the platform.Complete coverage of federal election 2025

NDP leader Jagmeet Singh is also expected to release a fully costed platform Saturday, in British Columbia. Friday in Quebec, Singh announced his platform which, targeting that province, includes plans for an east-west clean electricity power grid.

Singh also said he’d safeguard Canada’s supply-managed dairy industry and promised not to build a pipeline through Quebec without provincial consent.


While Pierre Poilievre did present what he called a “New Canada First Economic Action Plan” last week in St. Catharines, Ont., spokesperson for the Conservative party Sam Lilly told CTV News they would be releasing their platform “in the coming days.”

The Conservative Party did post a video of former prime minister Stephen Harper offering an endorsement of Poilievre.

In it, Harper says “the two men running to lead us both worked for me, and my choice, unequivocally, is Pierre Poilievre.”

The current Conservative leader was a minister under Harper and Carney was the governor of the Bank of Canada while was prime minister between 2008 and 2013.

The Bloc Quebecois was the first party to release its full platform five days into the federal election campaign. In it, the separatist party said before ratifying, any text of a free trade agreement should have to face a vote in the House of Commons. The Bloc said it would introduce a private member’s bill demanding such a vote. The policy highlights that it’s necessary with the threats posed by tariffs from the U.S.

With files from CTV News national correspondent Jeremie Charron

Mike Le Couteur

Senior Political Correspondent, CTV National News



‘Relentless’: The combative Pierre Poilievre finds himself in the fight of his life


By The Canadian Press
 April 19, 2025 

Federal Conservative Leader Pierre Poilievre waves with his family before boarding his campaign plane at the John C. Munro Hamilton International Airport in Hamilton, Ont., on Wednesday, March 26, 2025. THE CANADIAN PRESS/Nick Iwanyshyn

OTTAWA — It’s a Monday evening in an industrial building just south of Edmonton. Pierre Poilievre is on stage, surrounded by a massive crowd of supporters.

He’s been talking for nearly an hour and his speech is hitting some of his biggest applause lines.

“What binds us together is the Canadian promise that anyone from anywhere can achieve anything, that if you work hard, you can have a great life in a beautiful home on a safe street under our proud flag. That is the promise that I hold out as hope to those who are on the brink of giving up,” he says.

He thrusts a fist into the air as he ends with, “Canada first, let’s bring it home!” The crowd cheers and the music swells as Poilievre’s wife, Anaida, pops up on the stage to kiss him.

An almost identical scene plays out on a Tuesday evening in industrial Hamilton. A Saturday afternoon in Winnipeg. A Monday in Fredericton. A Thursday in Oshawa.

Poilievre has made these rallies a fixture of his leadership of the Conservative party since he took over in late 2022, and a central part of his election campaign.

He’s polished and smooth, feeding off the energy of the crowd. Some attendees are repeat rallygoers, while others are part of his sizable social media following. Most of them have heard the speech before.

It all seems a long way from the young man Tony Greco met some 20 years ago in the Ottawa suburb of Barrhaven.

Greco is an entrepreneur, a personal trainer, author and life coach. He’s not into politics.

Which is why, he said, he didn’t recognize “this geeky guy,” young and bespectacled, frequenting the smoothie bar at his martial arts studio as a local member of Parliament.

“I go, ‘MP? This guy? Like, he looks like he’s 12,’” Greco recalled in an interview.

Poilievre was elected to represent the riding of Nepean-Carleton in 2004. At 25, he and Andrew Scheer were the youngest members of the caucus. Fellow Conservatives took to calling him “Skippy.”

Greco said he invited Poilievre for a workout and quickly realized his appearance was deceiving — the guy was “relentless.”

“I’m like, man, this guy’s insane. It’s just crazy, because when you see him back in the day, you don’t think he’s that kind of guy,” he said.

That intense work ethic is one of the key forces behind Poilievre’s rise in federal politics, from parliamentary secretary to cabinet minister to party leader and, now, contender for prime minister.

On the campaign trail, Poilievre has made a number of references to time spent at the Greco family home while making an appeal to blue-collar workers and union members — like Greco’s father, Albino, who immigrated to Canada from Italy in the early ’70s.

Poilievre and Greco still see each other from time to time, though Poilievre is busy with his own family — his kids, three-year-old Cruz and six-year-old Valentina — and with work.

When Greco’s father was in his final days in the hospital a year ago, Pierre and Anaida surprised him by showing up. “I’ll never forget that for the rest of my life. It just goes to show you what kind of friend he is,” he said.

Poilievre often talks about his humble roots in Western Canada. Given up for adoption by his 16-year-old birth mother, he and his brother Patrick were raised by Marlene and Don Poilievre, Saskatchewan school teachers who had moved to Calgary.

He got involved in politics in high school.

At the 1996 Reform Party convention, he told a reporter why he supported the party. “I’m very concerned about the financial state of the country and think they’re the only ones who can fix it,” he said.

He came to Ottawa with his political ideology baked in and is proud he hasn’t changed his views in decades.

“Some people even dug up my old university essays, and I’ve been saying precisely the same thing the entire time,” he said in a December interview with right-wing influencer and psychologist Jordan Peterson.

In one of those essays — about what he’d do if he were prime minister — he laid out the ideas that have guided him through two decades in Parliament: giving citizens social, political and economic control over their own lives, getting government out of the way.

That strength of conviction may be a source of vulnerability now.

Poilievre’s slow pivot away from the election campaign he’d planned on — a campaign about the carbon price, affordability concerns and Justin Trudeau’s deep unpopularity — to one dominated by U.S. President Donald Trump and a global trade war happened as the Conservatives watched the 25-point polling lead they had in January melt away.

In their wide-ranging conversation in December, Poilievre told Peterson the Liberals had implemented a radical woke agenda influenced by the NDP, making the country “a hellscape.”

Now, he’s promising Canadians his government will keep dental care, maintain the $10-a-day childcare program and protect access to medical assistance in dying.

He’s saying all of this with a smile, though it sometimes seems forced.

Poilievre rose to success channelling voters’ anger at a government they saw as asleep at the switch while the cost of everything spiked.

His years of relentless attacks on Trudeau and the Liberal brand had an effect — it was clear by the start of the year that Canadian voters wanted change.

Fast-forward three months and it’s less clear that most voters want Poilievre.

Polls show many Canadians — women in particular — have a negative impression of him. Many feel he comes off as aggressive and angry. Some feel he’s too much like Trump.

“I think he is frequently angry on behalf of people who have been screwed over,” said Ginny Roth, who was Poilievre’s communications director during his leadership run in 2022.

“I honestly hope that he doesn’t ever abandon that ability to tap into people’s frustration.”

Roth, a partner at Crestview Strategy, said their first conversation was “so indicative of every conversation we would have subsequently, which is like, straight into substance. No pleasantries.”

Poilievre has brought a populist style of politics to the Conservative party, according to former prime minister Stephen Harper.

In an interview with a Florida-based podcaster in January, Harper said Poilievre has “caught the populist wave,” though he argued he’s a “much more orthodox conservative than Donald Trump.”

His ability to reach supporters on social media allows him to ignore or attack the traditional media, Harper said, adding that the media “are the real opponent.”

Poilievre’s office never responded to a request for an interview with him and Anaida for this story. Neither did Harper. Conservative incumbents and former ministers similarly ignored or declined requests to talk about Poilievre.

Fred DeLorey, chair of North Star Public Affairs and the party’s 2021 campaign director, said Poilievre’s strength is that “he’s a professional politician.” He is not, however, a statesman.

He’s often described as an attack dog, a political athlete who excels at the cut-and-thrust in the House of Commons.

Roth said Poilievre can “talk about pretty substantive, complex political policy matters in very plain language and in terms that people can connect with.”

That’s the style on display at his rallies.

Strategists say Poilievre has been very effective at courting the support of voters who tend not to back conservatives: newcomers to Canada and young people, especially young men.

Harper sees that as a generational shift, noting conservative politicians the world over have more support from young people than they did when he was prime minister.

Poilievre will need those voters to turn out at the ballot box.

Greco said there’s a simple reason why he thinks his friend will not only be the next prime minister, but a great one.

“He hates to lose,” he said. “He’s relentless. He’ll do whatever it takes.”

This report by The Canadian Press was first published April 19, 2025.

Sarah Ritchie, The Canadian Press
Mazda to pause U.S. production of compact SUV destined for Canada

By Nicholas Takahashi
April 18, 2025 at 9:44AM EDT



Mazda Motor Corp. will pause exporting one model type to Canada that it makes in the U.S. as a temporary countermeasure to U.S. President Donald Trump’s tariffs, a spokesperson said Friday.

The Japanese automaker will halt production of CX-50 sport utility vehicles destined for Canada at its Alabama plant effective May 12. Production of the CX-50 for markets outside of Canada will continue. The move was reported earlier by Nikkei.

Trump’s 25% tariffs on imported cars and parts, along with Canada’s retaliatory duties, have forced Mazda and other foreign brands to walk a fine line by balancing short-term relief with long-term consequences. Japanese carmakers are particularly exposed to US border controls, given the size and importance of the market to them.

The CX-50 compact crossover SUV accounted for about 15% of the some 72,000 passenger vehicles Mazda sold in Canada in 2024.

Trump’s levies could raise U.S. passenger car prices by more than 14%, according to Christopher Richter, a senior analyst at CLSA Securities Japan.


Trump hinted earlier this week that he might temporarily relieve the auto industry from tariffs but didn’t specify how long any potential pause would be. He announced auto tariffs of 25% in late March with tariffs for completed vehicles taking effect April 3, and tariffs for automotive parts set to start 30 days later.

While Toyota Motor Corp. has said it will stay the course for now, Nissan Motor Co. is halting US orders for SUVs built in Mexico while Honda Motor Co. said Wednesday it will shift production of the hybrid version of its Civic from Japan to the U.S.

©2025 Bloomberg L.P.
BHP warns of trade war fallout as it ramps up copper output

By Bloomberg News
April 17, 2025 


BHP Group Ltd. is warning U.S. President Donald Trump’s tariff spree could trigger a global economic slowdown and challenge trade flows, as the world’s biggest miner posted a solid quarterly production performance for key commodities including copper and iron ore.

“Despite the limited direct impact of tariffs on BHP, the implication of slower economic growth and a fragmented trading environment could be more significant,” Chief Executive Officer Mike Henry said in a statement Thursday. “China’s ability to shift toward a consumption-led economy and for trade flows to adapt to the new environment will be key to sustaining the global outlook.”

The global commodities market has been one of the sectors most exposed to the fallout from Trump’s burgeoning trade war. That could complicate Henry’s agenda to grow BHP’s holdings of what he calls “future facing commodities” — copper and potash. The drive has been backed by revenue derived from the miner’s long-standing iron ore business, which still accounts for more than half of its earnings.

BHP’s production of copper in 2025’s first three months climbed 10 per cent, boosted by a ramp of of its Escondida operations in Chile, it said. Meanwhile, output from its Australian iron ore projects was steady at 68.1 million tons, and it kept its full-year guidance for the steel-making material unchanged.

Prices of copper — seen as a global economic bellwether — tumbled from late March as Trump launched his tariff spree, before recovering some losses. Iron ore has been comparatively stable, despite dropping below US$100 a ton during April on concerns of oversupply as Beijing battles with a property crisis and slowing economy.


Henry backed his company to benefit from the turmoil, saying investors will be attracted to its large-scale, low-cost projects. BHP is one of the lowest cost iron ore miners in the world at around $18 a ton, while selling at an average of about $83 to the market during the quarter, according to the filings.

“In the face of global volatility and policy uncertainty, BHP is poised to benefit from a flight to quality with Tier-one assets, industry-leading margins and high-return organic growth opportunities that will underpin value and returns through the cycle,” Henry said.

That doesn’t mean BHP is immune to the challenges facing the mining sector. In February, it slashed its dividend by 31 per cent.

BHP was also impacted by seasonal weather interruptions across its iron ore and coal operations during the period, which is its third quarter. Like peer Rio Tinto Group, it posted lower production quarter-on-quarter in the iron-rich Pilbara region due to severe cyclone events.

Rio reported on Wednesday that iron ore shipments had fallen nine per cent due to cyclones. The impact on BHP’s iron ore operations was comparatively smaller, but it said its coal fields in Queensland were hit by heavy rainfall, with production of the steelmaking fuel down 12 per cent on the previous three months.
Copper and potash

The company has sold off many of its coal assets and exited oil and gas under Henry’s management, turning to copper — used in electrification and key to the energy transition — for its next leg of growth. BHP made a $49 billion bid for Anglo American Plc last year, which ultimately failed.

BHP has a controlling 57.5 per cent interest in the massive Escondida project, which was hit by power outages over the reporting period. Still, it delivered better yields over the three months, driven by higher quality ore.

While its Nickel West business remains in care and maintenance, due to a crash in prices driven by oversupply from Indonesia, it is developing a major potash mine — Jansen —- in Canada, which is set to become a big supplier to the fertilizer market. The project’s first stage is 66 per cent complete, with initial production is scheduled for next year, BHP said.

Paul-Alain Hunt, Bloomberg News

©2025 Bloomberg L.P.
Eric Ham: More U.S. tariffs underscore Trump’s insatiable appetite for a global trade war

By Eric Ham
Published: April 19, 2025 

U.S. President Donald Trump speaks as C.C. Wei, chairman and CEO of Taiwan Semiconductor Manufacturing Company, right, and Commerce Secretary Howard Lutnick listen in the Roosevelt Room of the White House in Washington, Monday, March 3, 2025. (Pool via AP)

Eric Ham is based in Washington, D.C. and is a political analyst for CTV News. He’s a bestselling author and former congressional staffer in the U.S. Congress and writes for CTVNews.ca.

The Trump administration filed notice on Monday that it had begun an investigation into whether imports of medicines including pharmaceutical ingredients, along with semiconductor chips, threaten America’s national security.

This is an effort to lay the groundwork for more stinging tariffs on foreign-made drugs and semiconductors.

Even amid the still simmering imbroglio stemming from his Liberation Day tariff pronouncement, the twice-impeached convicted felon makes clear, his hunger for greater carnage and chaos has not been satiated.

Markets still have not fully rebounded from the president’s recent pause. Moreover, C-suite executives, hedge fund managers and more are bracing for the next policy grenade the mercurial commander-in-chief will set off. The president is attempting to foment even more uncertainty and more doubt in a global economy already rife with entirely too much.


Goldman Sachs CEO David Solomon said in a statement recently that the climate is a “markedly different operating environment than earlier this year.” The banking giant went further, saying on a call with analysts, “The prospect of a recession has increased with growing indications that economic activity is slowing down.” He went on to add, “Our clients, including corporate CEOs and institutional investors, are concerned by the significant near-term and longer-term uncertainty that has constrained their ability to make important decisions.”

Fellow industry titan, JPMorgan Chase CEO Jaime Dimon, offered an equally demoralizing prognosis. He stated, “The economy is facing considerable turbulence (including geopolitics), with the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility.”

Financial oracles shedding any pretense that a self-inflicted wound, orchestrated by the White House, has sent a once optimal economy into a tailspin. Yet, the president is still clamoring for more, even as industry leaders, consumers and nations signal their tolerance for enduring more is at an end.

The U.S. Commerce Department is now reviewing the semiconductor industry for potential tariffs, which could see a massive growth industry come crashing to an abrupt halt. The U.S. microchip business, which is currently valued at just under US$700 billion, had been expected to see a massive leap to more than US$2 trillion by 2032.Complete coverage of the Trump tariffs

However, now that the White House is considering import duties on the industry, the once-promising sector could see massive domestic investment, global partnerships, and vital supply chains dramatically altered. U.S. President Donald Trump’s new tariffs could cost American semiconductor equipment makers more than US$1 billion a year.

He has told industry leader, Taiwan Semiconductor Manufacturing Company (TSMC), it would have to pay an astounding tax of 100 per cent if it did not build factories in the United States.The president’s war on trade has already cost the nation prestige, wealth, and reputation. Yet, in raising the stakes, Donald Trump is showcasing his boundless desire for maximum hurt both at home and abroad.

Initially, import duties on steel, aluminum and automotive products cast a pall over America’s manufacturing sector as the taxes were like a sledgehammer to an industry that accounts for 10 per cent of the nation’s GDP.
Effects on pharmaceuticals

Now, however, with the precious semiconductor and pharmaceutical industries staring down the gauntlet of more debilitating tariffs, the White House could be preparing for the kill shot that takes down the nation as well as its closest economic alliances from Canada to Asia.

In fact, Canada’s pharmaceutical sector is among the global top 10 national markets, holding a two per cent share of the total global market. Moreover, more than 50 per cent of Canadian pharmaceutical products are exported, with the U.S. as the largest destination.


Generic drug manufacturers have had to contend with increasing competition and tight profit margins in recent years. Slapping extra costs through tariffs could undermine their ability to do business with the U.S., especially since it could be tougher for them to recoup the added expense than manufacturers of brand-name drugs.

Currently, there are 270 active drug shortages in the U.S., down from an all-time high of 323 in early 2024, according to the American Society of Health-System Pharmacists. Shortages of antibiotics are a particular problem. Equally confounding is the White House issuance of a recent Executive Order aimed at lowering drug prices and reducing costs for Medicare. Again, another glaring example of the inconsistency in the policy implementation by a president sending competing messages creating confusion and maximum turbulence

.
President Donald Trump speaks as he signs executive orders in the Oval Office of the White House, Thursday, April 17, 2025, in Washington. (AP Photo/Alex Brandon)

It has often been said that misery loves company. President Trump’s on-again, off-again, trade war now has no shortage of bedfellows. Heads of state are scrambling to find balance and equanimity. Industries are desperate to secure alternative markets beyond America; and consumers at home and abroad remain numb to the fallout. Yet, through it all, President Trump remains steadfast, determined, even dogmatic in both his thinking and approach to more, not less, dubiety.

A one-man wrecking machine, President Trump has single-handedly brought the global collective of economic engines, minds, and institutions to heel. His reputation, world renown for never enough, and now, all corners of the globe are learning this fateful and expensive lesson the hard way. In Trump’s hands, he has unlocked, unified, and galvanized the entire weight of American hegemony at his fingertips.

Now the world waits with bated breath to its unleashing. Ordinary people crushed; industry upon industry demoralized; nation after nation demeaned. With every ignominious failure a voracious appetite unrequited. Each crash, each disaster, each deleterious end begets more of the same. More failures. More flops. More losses. And at its core, at its foundation, a thirst for destruction that can never be quenched.



Eric HamOpens in new window

CTV News Political Analyst

Ontario promises to cut red tape for critical mining projects

Ontario Premier Doug Ford speaking during a press conference Thursday. Credit: Doug Ford’s official X account

Ontario will cut the time required to approve new mining projects by 50% in an attempt to make the province competitive as Canada faces tariffs and annexation threats from top trading partner the United States, the province’s Premier Doug Ford, said on Thursday.

In new legislation branded as ‘One Project, One Process’ the new bill would speed up approvals in strategically important mining projects starting with the Ring of Fire and critical minerals, Ford said.

“Right now it takes 15 years to open a new mine in Ontario,” Ford said. “That’s 15 years of missed opportunity, 15 years of jumping through hoops… these delays were never acceptable, but today, more than ever, we need to act with President Trump taking direct aim at our economy, it cannot be business as usual.”

The measure if passed by the Provincial Legislative Assembly, will aim to have a 50% reduction in the time taken for government review for mining projects, including a coordinated consultation with indigenous groups on whose lands these mines will be built.

Ontario is also tightening its norms over the involvement of foreign entities such as China in critical mining projects, Ford said.

(By Divya Rajagopal; Editing by Kirsten Donovan)


Ontario to table legislation that will speed up mine development


By The Canadian Press
 April 17, 2025 

A car drives through Neskantaga First Nation in Neskantaga, Ont., which is located within the Ring of Fire, Sunday, Aug. 20, 2023. THE CANADIAN PRESS/Chris Young

Ontario is set to table legislation that it says will speed up the development of mines by designating some as “special economic zones,” though Premier Doug Ford said that could also be used on other projects.

The Ring of Fire, a massive area in northern Ontario said to be replete with critical minerals, will be one such economic zone. But Ford said other big projects could receive similar designations, including his plan to build a massive transit and traffic tunnel under Highway 401.

First Nations have already expressed concern about the province’s wish to fast-track the development of the Ring of Fire.

The need to urgently mine the province is a direct response to the threats from U.S. President Donald Trump, Ford said.

“President Trump wants to destroy our economy, take jobs away from Ontarians and Canadians, and we have to get up and fight like we’ve never fought before,” Ford said. “We can’t be caught up in red tape and regulations and dilly-dallying around.”


Ford envisions massive mining operations up north to extract critical minerals from the ground, refine those minerals in the province and then use them for the burgeoning electric vehicle battery industry in southern Ontario. But now he also wants to sell those critical minerals around the world.

He believes mining critical minerals will lead to prosperity for all Ontarians.

“We’re going to move forward, going to create economic growth right across the province,” he said. “We will be the wealthiest, richest, most prosperous, safest jurisdiction in the world.”

Ford said special economic zones are not limited to mining operations.

It could be “anything that we see economic opportunity: building a tunnel, for example, along the 401, or any major infrastructure project that creates opportunities and economic development," Ford said.

Another example could be a pipeline, he said. Ford wants to see oil and gas pipelines run across the province and country.

“Let’s speed things up. Let’s make sure that pipeline gets done. Let’s make sure it gets out to Irving or gets down to Sarnia or wherever,” Ford said.

The plan to speed up development of the Ring of Fire has already sparked resistance from many First Nation communities who have constantly reminded the province about its duty to consult them.

Sol Mamakwa, who represents the riding of Kiiwetinoong where the Ring of Fire and numerous First Nations are located, said the government’s current approach to consultations is “the bare minimum.”

“And that’s not good enough,” said Mamakwa, the lone First Nation member of Queen’s Park.


Officials also say the new bill will do away with several environmental assessments, including one of the proposed Eagle’s Nest mine in the Ring of Fire region and another of a proposed landfill in southwestern Ontario.


This report by The Canadian Press was first published April 17, 2025.

Liam Casey and Allison Jones, The Canadian Press




Strange sell-off in the U.S. dollar raises the specter of investors losing trust in the U.S. under Trump

By Bernard Condon
 April 18, 2025 

U.S. one hundred dollar bills are shown in this picture illustration in Buenos Aires, Argentina, on March 10, 2025. (NurPhoto/Photographer: NurPhoto/NurPhoto)

NEW YORK — Among the threats tariffs pose to the U.S. economy, none may be as strange as the sell-off in the dollar.

Currencies rise and fall all the time because of inflation fears, central bank moves and other factors. But economists worry that the recent drop in the dollar is so dramatic that it reflects something more ominous as President Donald Trump tries to reshape global trade: a loss of confidence in the U.S.

The dollar’s dominance in cross-border trade and as a safe haven has been nurtured by administrations of both parties for decades because it helps keep U.S. borrowing costs down and allows Washington to project power abroad — enormous advantages that could possibly disappear if faith in the U.S. was damaged.

“Global trust and reliance on the dollar was built up over a half century or more,” says University of California, Berkeley, economist Barry Eichengreen. “But it can be lost in the blink of an eye.”

Since mid-January, the dollar has fallen 9% against a basket of currencies, a rare and steep decline, to its lowest level in three years.


Many investors spooked by Trump don’t think the dollar will be pushed quickly from its position as the world’s reserve currency, instead expecting more of a slow decline. But even that is scary enough, given the benefits that would be lost.

With much of world’s goods exchanged in dollars, demand for the currency has stayed strong even as the U.S. has doubled federal debt in a dozen years and does other things that would normally send investors fleeing. That has allowed the U.S. government, consumers and businesses to borrow at unnaturally low rates, which has helped speed economic growth and lift standards of living.

Dollar dominance also allows the U.S. to push around other countries like Venezuela, Iran and Russia by locking them out of a currency they need to buy and sell with others.

Now that “exorbitant privilege,” as economists call it, is suddenly at risk.

“The safe haven properties of the dollar are being eroded,” said Deutsch Bank in a note to clients earlier this month warning of a “confidence crisis.” Added a more circumspect report by Capital Economics, “It is no longer hyperbole to say that the dollar’s reserve status and broader dominant role is at least somewhat in question.”

Traditionally, the dollar would strengthen as tariffs sink demand for foreign products.

But the dollar not only failed to strengthen this time, it fell, puzzling economists and hurting consumers. The dollar lost more than 5% against the euro and pound, and 6% against the yen since early April.

As any American traveler abroad knows, you can buy more with a stronger dollar and less with a weaker one. Now the price of French wine and South Korean electronics and a host of other imports could cost more not only due to tariffs but a weaker currency, too.

And any loss of safe-haven status could hit U.S. consumers in another way: Higher rates for mortgages and car financing deals as lenders demand more interest for the added risk.

More worrisome is possible higher interest rates on the ballooning U.S. federal debt, which is already at a risky 120% of U.S. annual economic output.

“Most countries with that debt to GDP would cause a major crisis and the only reason we get away with it is that the world needs dollars to trade with,” says Benn Steil, an economist at the Council on Foreign Relations. ”At some point people are going to look seriously at alternatives to the dollar. ”


They already have, with a little help from a U.S. economic rival.

China has been striking yuan-only trading deals with Brazil for agricultural products, Russia for oil and South Korea for other goods for years. It has also been making loans in yuan to central banks desperate for cash in Argentina, Pakistan and other countries, replacing the dollar as the emergency funder of last resort.

Another possible U.S. alternative in future years if their market grows: cryptocurrencies.

Said BlackRock Chairman Larry Fink in his annual shareholder letter about dollar dominance, ”If deficits keep ballooning, America risks losing that position to digital assets like Bitcoin.”

Not everyone is convinced that a big reason the dollar is falling is because of lost faith in the U.S.

Steve Ricchiuto, an economist at Mizuho Financial, says dollar weakness reflects anticipation of higher inflation due to tariffs. But even if investors aren’t as comfortable holding dollars, he says, they really don’t have much of a choice. No other currency or other asset, like yuan or bitcoin or gold, is vast enough to handle all the demand.

“The U.S. will lose the reserve currency when there is someone out there to take it away,” Ricchiuto says. “Right now there isn’t an alternative.”

Maybe so, but Trump is testing the limits.

It’s not just the tariffs, but the erratic way he’s rolled them out. The unpredictability makes the U.S. seem less stable, less reliable, and a less safe place for their money.

There are also questions about his logic justifying the policy. Trump says the U.S. needs tariffs to drive down its trade deficits with other countries. But most economists believe those deficits, which measure trade in goods, not services, are a bad measure of whether a country is “ripping off” America, as Trump puts it.

Trump has also repeatedly threatened to chip away at the independence of the Federal Reserve, raising fears that he will force interest rates lower to boost the economy even if doing so risks stoking runaway inflation. That is a sure fire way to get people to flee the dollar. After Fed Chair Jerome Powell said Wednesday that he would wait to make any rate moves, Trump blasted him, saying “Powell’s termination cannot come fast enough!”

Economists critical of Trump’s April 2 tariff announcement recall another event, the Suez Crisis of 1956, that broke the back of the British pound. The military attack on Egypt was poorly planned and badly executed and exposed British political incompetence that sank trust in the country. The pound fell sharply, and its centuries-long position as the dominant trading and reserve currency crumbled.

Berkeley’s Eichengreen says Liberation Day, as Trump called it, could be remembered as a similar turning point if the president isn’t careful.

“This is the first step down a slippery slope where international confidence in the U.S. dollar is lost.”


Analysts see gold at $4,000 as faith in the US dollar tumbles



Gold is hitting records in more ways than one.


In nominal terms, the yellow metal set multiple new all-time highs this week, exceeding $3,300 an ounce for the first time ever on Wednesday. And on an inflation-adjusted basis, gold also notched a new record price, surpassing the longstanding record set in 1980.



There could be further gains in the coming months, if analyst expectations come to fruition. Goldman Sachs sees gold topping out at $3,700 by the end of this year and $4,000 an ounce by mid-2026.
Top performing gold stocks now featured in the IBD 50

Gold miners, I’m happy to report, also appear to be back in favor. The IBD 50, Investor’s Business Daily’s flagship screen of growth stocks, now includes about a dozen gold mining names. Companies that were just added to the list include DRDGold, Eldorado Gold, Gold Fields, Randgold Resources, Osisko Gold Royalties, Royal Gold, Triple Flag Precious Metals and Wheaton Precious Metals.


We’re proud to hold shares in 11 of these companies across one or more of our gold equity or resource funds, as of March 31. Below is a comprehensive list.


Worst start on record for the dollar index spurs gold buying

This gold rally is classic Fear Trade. It comes as investor sentiment has collapsed to its lowest level in three decades, according to April’s BofA Global Fund Manager Survey. Eighty-two percent of participants said they believe the global economy will shrink, marking the most pessimistic reading in the survey’s history.



The value of the US dollar, when measured against a basket of world currencies, has sunk to a three-year low as traders await more details on the fallout from President Donald Trump’s trade policies. The ICE US Dollar Index is down 8% so far in 2025, making this the worst start to a year in the index’s four-decade history, according to the Wall Street Journal.

Granted, a weaker greenback has its advantages: It makes the price of goods being exported out of the US more affordable to foreign buyers, helping exporters.

My concern is the reason why the dollar is on the decline. Foreign central banks have been dumping US debt for a while, but the selling pressure of longer-dated bonds has increased in recent months. In the four months through February, overseas institutions sold a combined net of approximately $90 billion.
Retail investors still missing out on the gold rally

Despite the rally, retail investors are still sorely underexposed. Gold-backed ETF assets currently represent less than 2% of all ETF assets, down from approximately 8% in 2011. Investment in gold ETFs has significantly picked up since February, but holdings are still off by about 19% from their highs in October 2020.


The market share for gold mining ETFs is even lower, representing less than 0.5% of total equity ETFs.


That’s a shame because gold stocks have been among the best bets of the year so far. The NYSE Arca Gold Miners Index, or GDM, has advanced more than 53% through Thursday’s close, far outperforming the S&P 500, which has lost close to 10% over the same period.

Believe it or not, the second-best-performing S&P 500 stock so far this year is Newmont, the world’s largest gold mining company. Newmont is up a little over 50% through April 16, following CVS Health, up nearly 53%.

Analysts have rosy expectations for Newmont’s year ahead. Those polled by FactSet say they project profits to rise 13% to $3.92 per share this year, followed by an 8% rise to $4.23 per share next year.
South African gold stocks break records in 2025

This rally isn’t limited to US-based gold stocks. South African producers, as measured by the rand-priced FTSE/JSE Precious Metals and Mining Index, hit a new record high as the price of gold has exploded to the upside, crossing above R60,000 per ounce this month for the first time ever.



Many American depository receipts (ADRs) of South African producers have done exceptionally well so far in 2025, with Sibanye Stillwater up about 50%, AngloGold Ashanti and DRDGold both up 93% to 94%, and Harmony Gold up a remarkable 113%.
Gold stocks remain deeply undervalued relative to the market

Just as investors’ portfolios are underexposed to the yellow metal, gold mining stocks look incredibly undervalued compared to the market.


The chart below shows the ratio between the GDM and the S&P 500. You can see that, relative to the S&P, gold stocks have traded in a range-bound pattern going back about 10 years.



So how do mining stocks break out of this pattern? Either gold equities continue to trade up, or the S&P 500 continues to fall (or a combination of the two).

In any case, this could be a good buying opportunity. As always, I recommend a 10% weighting, with 5% in physical gold (bars, coins, jewelry) and the other 5% in high-quality gold stocks.

* Frank Holmes is the CEO of U.S. Global Investors
Google is twice a monopolist. Fixing it will be the hard part

By Josh Sisco
 April 18, 2025 

A Google Cloud logo at the MWC25 tech show in Barcelona, Spain, on Tuesday, March 4, 2025. The Mobile World Congress tech show runs March 3-6. Photographer: Angel Garcia/Bloomberg (Angel Garcia/Bloomberg)

Alphabet Inc.’s Google has been found by two federal judges, in less than a year, to have illegally monopolized critical parts of the internet.

Now the U.S. Justice Department will likely push for the company to make sweeping changes to its advertising business. That includes forcing the sale of key technology including the ad exchange that matches buyers and sellers of online ads, to reduce the control Google has over how the web’s independent publishers make money. And in another case involving search, Google might have to sell its Chrome browser.

How to craft remedies in the parallel but separate cases tees up a complicated set of questions for the government as it seeks to overhaul multiple parts of one of the world’s biggest technology companies, a process that could take months or years to play out.

“I don’t think we have really seen this before,” said Vanderbilt University law professor Rebecca Allensworth. “The big breakup cases in the past were done by the same judge.”
Hearing Next Week

There is no timeline yet for next steps following Thursday’s ruling that Google has an illegal monopoly over key parts of online advertising technology. But a three-week hearing set to start next week will address possible remedies for last year’s ruling that Google cornered the market with its online search business.


U.S. District Judge Amit Mehta in Washington, who issued last year’s decision, has previously indicated he expects to issue a remedy ruling by August. That could inform how U.S. District Judge Leonie Brinkema arrives at a fix for Google over the ruling she released this week, Allensworth said. “It is likely that he is writing on a clean slate and she is not,” she said.

In a statement about Thursday’s ruling, Google said it would appeal the part of the case that it lost.

“We disagree with the court’s decision regarding our publisher tools,” said Lee-Anne Mulholland, Google’s vice president of regulatory affairs. “Publishers have many options and they choose Google because our ad tech tools are simple, affordable and effective.”
‘Monopoly Power’

A DOJ spokesperson didn’t respond to a request for comment about the remedies process, but Assistant Attorney General Gail Slater said Thursday “Google is a monopolist and has abused its monopoly power.”

Google still could try to settle the two cases, though given the recent victories for the Justice Department, the company would likely have to meet a high bar to reach a deal. In March Google met with the DOJ to fend off a breakup in search, a bid that was unsuccessful.

The company can’t pay a large fine to resolve its monopoly problem, as the DOJ doesn’t have the power levy financial penalties in civil antitrust cases, so any solution or settlement will need to involve significant changes to its business.

Brinkema will set a series of hearings during which both sides will be able to argue what remedies should be employed before she makes her final decision.

She said in her ruling Thursday that Google monopolized the markets for advertising exchanges and tools used by websites to sell ad space, known as ad servers. But she said the company didn’t meet the definition of a monopoly for a third market of tools used by advertisers to buy display ads.

Chrome Browser

The Justice Department is set to face off against the search giant next week in Mehta’s courtroom to determine what changes to the company’s business are necessary to restore competition. The government wants Google to sell the Chrome browser, license search data to competitors and be barred from paying for exclusivity on other services and devices.

Mehta had ruled that Google used billions of dollars in payments from Apple Inc. and other companies to make its search engine the default option on smartphones and web browsers, effectively blocking any other competitor from succeeding in the market.

In November Google called the DOJ’s remedy proposal “a radical interventionist agenda that would harm Americans and America’s global technology leadership.”

While the DOJ is not evaluating each of the cases in a vacuum, it believes they can be addressed separately, according to people familiar with the department’s thinking.
‘In the Abstract’

The two cases deal with different pieces of the company’s business and require highly technical fixes. “There is no such thing as breaking up Google in the abstract,” Allensworth said.

In the ad tech case, both sides will submit proposals for what to do, based on the ruling. In its complaint in early 2023, the DOJ said it wanted Google to sell its “Ad Manager suite, including both Google’s publisher ad server, DFP, and Google’s ad exchange, AdX, along with any additional structural relief as needed to cure any anticompetitive harm.”

That could be complicated by whatever Brinkema decides. The judge said in her ruling that “Google’s bolstering of its publisher-facing business through the DoubleClick acquisition helped it establish a dominant position on both sides of the ad tech stack.”

But she also concluded that “the government failed to show that the DoubleClick and Admeld acquisitions were anticompetitive.”

Still, that isn’t necessarily required for the deals to be unwound, Allensworth said. “It’s the vertical integration that led to the conduct Brinkema found problematic,” she said, referring to how Google operates the different pieces of the business together.

A breakup could have a significant effect on the company’s profits, though with years of expected appeals, any near-term changes are unlikely.

“A breakup of how [Google] drives their advertising revenue would be detrimental to the overall business model,” said Dan Morgan, an analyst with Synovus. “Do not expect any changes till all the dust settles after the appeal case is heard.”

--With assistance from Julia Love.

©2025 Bloomberg L.P.

World Nuclear News


TVA to submit SMR construction permit application


Thursday, 17 April 2025

The Tennessee Valley Authority intends to submit the Construction Permit Application for the Clinch River small modular reactor to the US regulator by June.

TVA to submit SMR construction permit application
TVA has picked out the location for the first SMR at Clinch River (Image: TVA/X)

"The Tennessee Valley Authority (TVA) intends to submit a CPA to license construction of a GE-Hitachi BWRX-300 small modular reactor (SMR) at TVA's Clinch River Nuclear Site (CRN Site)," the authority said in a Notification of Intent to the US Nuclear Regulatory Commission (NRC). According to the notification, it plans to submit the first part of the application, including the Clinch River Nuclear Site Environmental Report, this month and the remainder "by June 2025".

The Construction Permit Application - or CPA - is essentially the blueprint for the plant's design and safety systems. NRC approval must be granted before construction can begin.

"As communicated previously, the TVA Board has not yet authorised the deployment of a SMR at the CRN Site. TVA's submittal of the CPA is an important step to de-risk the licensing aspect of a potential, future SMR deployment. Any decisions about deployment will be subject to support, risk-sharing, required internal and external approvals, and completion of necessary environmental and permitting reviews," TVA said in the letter, which is dated 17 April.

The NRC awarded TVA an early site permit for the construction of SMRs at Clinch River in 2019, certifying that the site was suitable for the construction of a nuclear power plant from the point of view of site safety, environmental impact and emergency planning, but without specifying the choice of technology. A separate licence would be required to construct and operate a plant. TVA entered an agreement with GE Hitachi in 2022 to support its planning and preliminary licensing for the potential deployment of a BWRX-300 at the site, near Oak Ridge.


US Energy Secretary Chris Wright visited the Clinch River Nuclear Site in March (Video: TVA)

This will be the first CPA for a BWRX-300. TerraPower submitted a CPA for its first-of-a-kind Natrium plant, at Kemmerer, Wyoming, to the NRC in March 2024, which the regulator docketed for review the following May. More recently, Long Mott Energy submitted a CPA for an Xe-100 power reactor to be located in Calhoun County, Texas, on 31 March, for which the regulator is targeting a docketing decision by the end of May.

A TVA-led coalition including BWRX-300 developer GE Hitachi Nuclear Energy earlier this year applied for USD800 million in funding from the US Department of Energy's Generation III+ SMR programme to support the deployment of SMRs at Clinch River. At the time, CEO Jeff Lyash said the funding would accelerate construction of an SMR at Clinch River by two years, with commercial operation planned for 2033. 

Earlier this year, Tennessee Governor Bill Lee pledged support for nuclear, with a proposal for some USD50 million for the SMR project in his 2025 State of the State address.

TerraPower begins UK design assessment process


Thursday, 17 April 2025

TerraPower has formally notified UK regulators that it plans to begin the generic design approval process for its Natrium sodium-cooled fast reactor, a first step towards deploying the technology in an international market.

TerraPower begins UK design assessment process
(Image: TerraPower/X)

The nuclear innovation company said it has submitted a letter to the UK's Department for Energy Security and Net Zero (DESNZ) that formally establishes its intention to enter the UK Generic Design Assessment (GDA) process.

The process is used by the UK's nuclear and environmental regulators - the Office for Nuclear Regulation (ONR) and the Environment Agency - to scrutinise designs for new nuclear power stations at an early stage, allowing potential design or technical concerns to be recognised early on and resolved before a developer formulates detailed plans for building at a specific site or applies for licences or permits. The Environment Agency estimates that it takes around 4 years to complete the three-step process.

TerraPower, co-founded by Microsoft co-founder Bill Gates, broke ground for its first Natrium plant, in Wyoming, USA, last year and said the regulatory milestones from that project will be used as the basis of its GDA application.

TerraPower President and CEO Chris Levesque said the company has been in active discussions in the UK "for years", adding that there is "immense interest and opportunity for the United States and United Kingdom to cooperate on deploying advanced nuclear plants over the coming decade".

The Natrium technology features a 345 MWe sodium-cooled fast reactor with a molten salt-based energy storage system. The storage technology can boost the system’s output to 500 MWe for more than five and a half hours when needed and allows a Natrium plant to integrate seamlessly with renewable resources, TerraPower says. The Natrium reactor is a TerraPower and GE Hitachi technology.

GDAs have previously been completed for the EDF/Areva UK EPR, the Westinghouse AP1000, the Hitachi-GE UK ABWR and the CGN/EDF/GNI UK HPR1000 designs. GDAs are currently ongoing for Rolls-Royce SMR Limited's small modular reactor design, GE Hitachi Nuclear Energy's BWRX-300 and Holtec International's SMR-300. Westinghouse's AP300 was accepted for a GDA review in August 2024, and in December, France-based reactor developer Newcleo submitted an application for its LFR-AS-200 small modular lead-cooled fast reactor to begin the process.

First main pump installed in Chinese SMR


Thursday, 17 April 2025

The first of four main pumps has been installed at the ACP100 small modular reactor demonstration project, under construction at the Changjiang site on China's island province of Hainan, China National Nuclear Corporation has announced.

First main pump installed in Chinese SMR
(Image: CNNC)

The shielded main pump of the ACP100 - also referred to as the Linglong One - is a single-speed vertical fully-sealed pump, which must meet stringent requirements such as high safety, full sealing, and long life. The first of the four pumps for the demonstration project was produced by Hainan Nuclear Power and Harbin Electric Equipment and was shipped to the construction site in March.


(Image: CNNC)

China National Nuclear Corporation (CNNC) said the installation of the first pump - which it refers to as the "heart" of the reactor coolant system - "further demonstrates China's comprehensive strength in the design of new nuclear energy systems, high-end equipment manufacturing and coordinated management of complex projects". 


(Image: CNNC)

CNNC announced in July 2019 the launch of a project to construct an ACP100 SMR at Changjiang. The site is already home to two operating CNP600 pressurised water reactors (PWRs), while the construction of two Hualong One units began in March and December 2021. Both those units are due to enter commercial operation by the end of 2026.

First concrete for the ACP100 was poured on 13 July 2021, with a planned total construction period of 58 months. Equipment installation work commenced in December 2022 and the main internal structure of the reactor building was completed in March 2023. The outer containment dome was hoisted into place in February this year.


The ACP100 SMR construction site (Image: CNNC)

Under development since 2010, the 125 MWe ACP100 integrated PWR's preliminary design was completed in 2014. In 2016, the design became the first SMR to pass a safety review by the International Atomic Energy Agency.

Once completed, the Changjiang ACP100 reactor will be capable of producing 1 billion kilowatt-hours of electricity annually, enough to meet the needs of 526,000 households. The reactor is designed for electricity production, heating, steam production or seawater desalination.

Korean-led consortium awarded US research reactor contract


Thursday, 17 April 2025

A consortium led by the Korea Atomic Energy Research Institute has been awarded a USD10 million contract by the University of Missouri for the design and licensing of its planned new research reactor.

Korean-led consortium awarded US research reactor contract
The contract signing ceremony (Image: KAERI)

The University of Missouri (Mizzou) launched an initiative in March 2023 to build a new, larger research reactor, NextGen MURR. The university's existing MU Research Reactor - in operation for more than half a century - is the highest-powered university research reactor in the USA and is currently the country's only producer of certain medical radioisotopes.

The Korea-US University of Missouri Research Reactor Consortium - comprising the Korea Atomic Energy Research Institute (KAERI), Hyundai Engineering Company, Hyundai Engineering America and US-based engineering firm MPR Associates - has now been contracted for the design studies phase to develop the 'roadmap' for the new reactor.

It will include detailed programming studies and a preliminary site evaluation and will establish an initial project cost and schedule estimate for the entire site. This agreement is expected to take approximately six months to complete, and the results will be integrated into the preliminary design and licensing phase under a separate contract. The conceptual design of the reactor is expected to be completed by the end of 2026. The total initiative is expected to take 8-10 years.

The university's existing research reactor - MURR - was originally constructed as a 5 MWt reactor, and began operations in 1966. Its power was increased to 10 MWt in 1974, and it now operates six-and-a-half days per week, all year round. The reactor is currently the only producer in the USA of the medical isotopes yttrium-90, used for the treatment of liver cancer; molybdenum-99, for analysis of heart functions; iodine-131, used for treatment of thyroid cancer; and lutetium-177, used for treatment of pancreatic and prostate cancers.

The new 20+ MW NextGen MURR research reactor will expand the current capabilities of MURR and address new innovative demands such as cancer treatment. The university said the new reactor and supporting infrastructure will be the largest capital investment in its history and will "position Missouri as a national hub for innovation, investment and manufacturing in nuclear health technologies".

"This is a historic moment for our university, our state and the future of nuclear science and medicine," University of Missouri President Mun Choi said. "NextGen MURR represents our commitment to research that changes lives. It will allow Mizzou to lead the nation in producing critical medical isotopes while opening new frontiers in science, engineering and patient care."

"The Board of Curators is proud to support this bold step forward," said Todd Graves, chair of the university's Board of Curators. "NextGen MURR is more than a reactor - it's an engine of progress. It will enhance Missouri's role as a leader in nuclear science medical research, economic development and education for generations to come."

KAERI President Han Gyu Joo added: "Securing the design study contract for the project is a new success story for KAERI. Riding on this momentum, we will strive to lead in nuclear science and applications through the development and use of research reactor and other nuclear technologies." 

KAERI noted: "This marks Korea's first involvement in a US nuclear reactor project, which greatly enhances Korea-US nuclear cooperation."