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Blackout 🔌 - Eastern Canada loses power after severe storm. Biden forms a new coalition to isolate China, while Apple follows suit looking for new manufacturing partners.
Description
Almost a million people in Ontario and Quebec were left without power this weekend as a severe thunderstorm rocked the area. A report from ****The North American Electric Reliability Corporation predicts widespread blackouts this summer.
Joe Biden is launching a new trade agreement with 12 Indo-Pacific countries (and no Canada), in a bid to economically isolate China. The countries participating in the Indo-Pacific Economic Framework (IPEF) make up 40% of the world’s GDP.
Apple is pushing its contract manufacturers to start making its product outside of China. The country’s covid-zero policies have cost Apple, who make 90% of their products in China, $8 billion in Q1.
The Peak Daily is produced by 306 Media Productions. Hosted by Alex Blumenstein and Jay Rosenthal.