Start your day off right with five things you need to know this morning.
Five things you need to know
Both the US and Iran have claimed victory after the two countries agreed a ceasefire on Tuesday predicated on the reopening of the Strait of Hormuz. There are mixed messages about what exactly was agreed between the two sides – and some fighting in the region is ongoing – but oil prices have nonetheless fallen significantly in response to the news.
NEW: Stocks soared and oil prices plunged in early trading on Wednesday, just hours after the U.S. and Iran announced a two-week ceasefire. https://t.co/2a7qY4UuSd
— ABC News (@ABC) April 8, 2026
The US's trade representative has said he doesn't think talks on the CUSMA free trade deal will be finished by the July 1 deadline. Jamieson Greer said he thinks discussions will result in the creation of "two separate protocols" for the US – one for trade with Canada, one for trade with Mexico. Greer also hinted that the US will choose to initiate a 10-year process of annual reviews for the deal, rather than select either of the other options in the agreement (renew the deal for 16 years or give six months' notice of withdrawal).
U.S. trade representative says unlikely all issues will be resolved with Canada and Mexico by July 1 deadline https://t.co/hF3BR6x360
— CTV News (@CTVNews) April 7, 2026
British Columbia is set to mark a grim milestone on April 14 next week: 10 years since the declaration of a public health emergency related to overdoses. More than 18,000 people have died throughout the disastrous decade.
Decade of death: With 18K lives lost, B.C. counts cost of 10-year drug emergencyhttps://t.co/Mu4pSI8NqY
— Global BC (@GlobalBC) April 8, 2026
Canada's oil and gas sector "should expect to see more deals" in the future, according to consultancy firm Deloitte, following a decade-long lull. Andrew Botterill, a partner at the company, said: "People are starting to really come to the recognition that Canada is very investable right now and it’s a place to deploy capital." He added that the Montney and Duvernay areas of northeastern BC and northwestern Alberta are among “the world’s highest-quality assets."
Canada’s oil patch ripe for deals once turmoil blows over, Deloitte says https://t.co/jduexaU3c4
— The Globe and Mail (@globeandmail) April 8, 2026
Researchers in New York have claimed Chinese biggest EV manufacturer, BYD, is using forced labour at a factory in Europe. China Labor Watch said workers are being brought to Europe from China and kept in "quite horrible conditions," including: seven-day workweeks with no rest, 14-hour shifts with only one short meal break, delayed wage payments of up to three months, recruitment fees used "as a form of debt bondage" and abuse of visas. A Chinese worker died at the factory in February, prompting reports from the Hungarian media. It comes as the Liberal Party remains under pressure to answer questions about China's use of forced labour, which Prime Minister Mark Carney has so far dodged, while his MP, Michael Ma, has been accused of attempting to whitewash China's abuses.
EV giant BYD accused of forced labour violations at European factory. China Labour Watch interviewed 50 workers at BYD facility in Hungary, @janycemcgregor reports https://t.co/kGe0HXndtS
— National Newswatch (@natnewswatch) April 8, 2026
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