Canada sees Democratic midterm wave as boost for tariff relief talks with US

■ Steady

Canada-US trade talks resume as BMW issues second profit warning

Canada-US trade talks have resumed, and the BBC reports the Democratic midterm victory is seen as adding pressure on the White House to reach a deal. BMW cut its profit margin forecast on Wednesday to between -0.5% and 0.5% for the year. Rwanda and South Africa will lose duty-free US market access after being excluded from the AGOA trade program.

• BMW cited restructuring costs, including 8,000 job cuts, and competition from China; Mercedes-Benz lowered its outlook last week.
• South Africa is bracing for some job losses after the AGOA exclusion, which follows US Treasury sanctions on Rwanda's defence ministry about a week earlier.
• Prime Minister Mark Carney said on Sunday that Canada-US talks were making progress.
• A report says China is tightening leverage over solar, drone and drug supply chains beyond rare earths.