Business Brief: Five files to follow this week

Prime Minister Mark Carney will visit Beijing this week and then travel to Doha and Davos, as geopolitical tensions and trade disputes form the backdrop. Markets and policymakers are watching tensions between the U.S. administration and Federal Reserve leadership, and key Canadian economic reports are due later this week.

Prime Minister Mark Carney will visit Beijing this week, and then continue to Doha and the World Economic Forum in Davos. The trip is occurring amid strained ties between Canada, China and the United States and growing global competition for markets and resources. In the United States, Federal Reserve Chair Jerome Powell publicly called a threatened legal move a pretext and pushed back against what he described as political pressure. Global competition for critical minerals, especially copper in Zambia and the DRC, is also influencing diplomatic and economic discussions. Key items: - On the Fed: Jerome Powell announced that a threatened indictment related to his congressional testimony was a pretext to influence monetary policy; President Trump was reported as denying knowledge of the move and TD Bank strategists said markets may see a limited reaction. - On Canada-China ties: Mark Carney is scheduled to meet Chinese leaders and business figures in Beijing and will then visit Doha before attending Davos, as Ottawa balances trade outreach with concerns about interference and tariffs. - On mining and minerals: Finance Minister François-Philippe Champagne is meeting G7 counterparts on trade and critical minerals, and the article reports the U.S. and China are expanding competing investments in copper-rich regions such as Zambia and the Democratic Republic of the Congo; the article mentions Canadian companies First Quantum and Barrick. - On corporate and markets: The article mentions Shopify's new AI partnerships with Google and Microsoft and notes JPMorgan Chase starts earnings season this week, while markets are watching tensions between the U.S. administration and the Federal Reserve. - On economic data: Canadian manufacturing and wholesale figures for November and December home resale data are due this week, which the article notes could underscore the need for trade diversification. Summary: Mark Carney's visits and meetings this week are intended to advance trade and investment ties while navigating geopolitical friction between major powers. The situation involving the Federal Reserve chair is reported as a source of market concern, with no formal legal process announced. Economic reports and corporate earnings scheduled for the week will provide further context. Undetermined at this time.