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Key Takeaway:  U.S. President Donald Trump signaled a softer stance toward Canada in tariff negotiations but gave no firm commitment on the future of the US-Mexico-Canada Agreement (USMCA), keeping trade uncertainty elevated ahead of the 2026 review. Overview U.S. President  Donald Trump  on Tuesday said he intends to treat  Canada “fairly”  in talks over U.S. tariffs on Canadian goods but stopped short of endorsing the current  USMCA  trade pact. “I think they are going to walk away very happy,” Trump told reporters ahead of a meeting with Canadian Prime Minister  Mark Carney  at the White House. Carney, in Washington for the second time in five months, faces growing domestic pressure to resolve tariffs on steel, autos, and other key exports. Progress but No Breakthrough Canadian Trade Minister  Dominic LeBlanc  described the meeting as “positive and substantive” but said no deal was imminent. “I am happy because we have momentum n...

Sharp Hike Signals Hardline Stance US President Donald Trump signed an executive order raising tariffs on Canadian goods to  35% from 25% , covering all products outside the US-Mexico-Canada Agreement (USMCA). The escalation underscores a hardline US trade posture heading into the Aug 1 deadline. Transshipment Route Closed Off To prevent tariff evasion, the White House added a  40% levy on transshipped goods , targeting supply chains rerouted via third countries. This move tightens cross-border logistics and increases compliance costs for exporters. Negotiations Hit a Wall Canadian Prime Minister Mark Carney reportedly attempted to initiate talks, but no discussions took place before the announcement. While Carney described previous talks as “constructive,” Trump’s remarks suggest a limited window for compromise, citing Canada’s long-standing tariffs on US agriculture. Geopolitical Overhang Ottawa’s recent steps toward recognising Palestinian statehood added a geopolitical lay...

Markets Brace for More Trade Turbulence; Dollar Gains as Risk Sentiment Wobbles Analyst View: Investors were hit with fresh trade war jitters after U.S. President Donald Trump escalated tariff tensions late Thursday, announcing a  35% tariff on all Canadian imports  starting  Aug 1 . The  EU is next , with a warning letter due "today or tomorrow," and other countries may face  15–20% blanket tariffs . The news wiped out earlier gains in Asian stocks and sent  U.S. and European futures sliding , while the  U.S. dollar strengthened  against the euro and Canadian dollar. Market Snapshot: S&P 500 & Nasdaq Futures : -0.4% EUROSTOXX 50 Futures : -0.6% EUR/USD : -0.3% to $1.1668 USD/CAD : +0.4% to 1.3704 Even as  Wall Street closed at record highs  overnight — fueled by Nvidia’s historic $4 trillion market cap — global risk appetite remains fragile. What to Watch: Tariff Deadline : Aug 1 — with limited time left, most doubt the U.S. can...

Canada  and the  European Union  have announced  retaliatory tariffs  in response to  Donald Trump’s  latest trade measures, intensifying the  global trade war . Key Developments : Canada’s Response :  Canada  has imposed  25% tariffs  on about  C$30 billion  ($20.8 billion) worth of  U.S.-made goods , including  steel, aluminum , and consumer products like  computers  and  sporting goods . This measure directly counters Trump’s tariffs aimed at revitalizing  America’s steel industry .  Canada  matched the tariffs  “dollar for dollar”  but delayed implementation, offering Trump a window to avoid further economic damage. EU Retaliation : The  European Union  has also retaliated with its own duties on up to  €26 billion  ($28.3 billion) worth of  American goods . While the  U.K.  remains a steadfast ally of the U.S. in trade talks, the ...

Key Developments: Trump’s tariffs take effect:  25% duties on imports from  Mexico and Canada , while  China faces a 20% tariff increase  on top of existing levies. China retaliates  with  10%-15% tariffs  on US goods and  export restrictions  on 25 US firms. Canada and Mexico vow countermeasures , with  C$30 billion in immediate retaliatory tariffs  from Ottawa. Market turmoil ensues , as global stocks slide and investors flee to safe-haven assets. US recession fears rise , with businesses warning of  supply chain disruptions  and  higher consumer prices . North America: Trade Friction with Allies Canada’s Swift Response Prime Minister Justin Trudeau  condemned the tariffs, calling them a  violation of the US-Mexico-Canada Agreement (USMCA) . Canada retaliates with  25% tariffs on C$30 billion (US$20.7 billion) in US goods , targeting: Beer, wine, and bourbon Home appliances Florida orange juice Ontari...

  Tariffs Moving Forward Despite Trade Concerns Trump reiterated that tariffs on Canada & Mexico are "on time and going forward" , emphasizing that past U.S. leadership allowed unfair trade deals. The new tariffs include: 25% tax on all imports  from Canada & Mexico. 10% tax on Canadian energy imports . March 4 is the scheduled start date  after a 30-day delay for security negotiations. Trump’s Justification for the Tariffs Claims  U.S. has been "mistreated" in trade  and that  past leaders signed bad agreements . Blames  American leadership for allowing other countries to gain advantages  in trade deals. Suggests that  previous administrations failed to protect U.S. manufacturing and economic interests . Market & Economic Reactions Tariff fears have already pressured the U.S. stock market , with concerns that  trade wars could reignite inflation . Businesses worry about supply chain disruptions , especially in industries rel...

Key Takeaway: Canada supports US concerns about Mexico’s trade policies with China , signaling a potential rift in North American economic cooperation. Canadian Deputy Prime Minister Chrystia Freeland acknowledged US concerns over Mexico’s trade relationship with China as “legitimate” and shared them, though she did not comment on the possibility of a bilateral trade deal between Canada and the US excluding Mexico, as suggested by Ontario Premier Doug Ford. Freeland noted Canada’s alignment with the US on tariffs, including a 100% tariff on electric vehicles and 25% on steel and aluminum from China , underscoring Canada’s commitment to shared economic interests with the US. In contrast, Mexico imposed tariffs on Chinese steel but has yet to match the broader tariffs set by its North American partners. Ford stated that Mexico should adopt comparable tariffs on Chinese imports or risk losing its place in North American trade discussions. The United States-Mexico-Canada Agreement (U...

  Canada has ordered ByteDance Ltd to close TikTok Technology Canada Inc due to national security concerns, though Canadians can still access the TikTok app. The decision, based on a review from Canada’s security and intelligence agencies, follows previous bans on TikTok from government devices in Canada, the US, and the European Union. University of Ottawa law professor Michael Geist called the move “curious,” noting that shutting down the company instead of the app could weaken oversight and accountability while keeping the security risks associated with the app in place. The issue echoes past efforts in the US, where in 2020, then-President Donald Trump attempted a TikTok ban, later supporting it in 2024 as necessary for market competition. TikTok Canada did not respond to requests for comment.

China announced plans to initiate an anti-dumping investigation into canola imports from Canada following Canada's recent decision to impose tariffs on Chinese electric vehicles (EVs) and other goods. This development is the latest in a series of escalating trade tensions between the two countries. Key Takeaways: Retaliation for Canadian Tariffs : China's announcement comes after Canada imposed a 100% tariff on Chinese electric vehicles and a 25% tariff on imported steel and aluminum, aligning itself with similar actions taken by the US and the European Union. China's Commerce Ministry condemned these "discriminatory unilateral restrictive measures," stating that it opposes Canada's actions despite the objections of multiple parties. Allegations of Dumping and Market Impact : The Chinese investigation focuses on the rapid increase in Canadian canola exports, which rose by 170% year-on-year to $3.47 billion in 2023, accompanied by a decline in prices. The Chine...

  Canada is set to introduce significant new tariffs on Chinese-made electric vehicles (EVs), steel, and aluminium, in alignment with its Western allies and in an effort to protect domestic manufacturers. The Canadian government plans to levy a 100% tariff on electric vehicles and a 25% tariff on steel and aluminium imports from China. Prime Minister Justin Trudeau is expected to announce the new policy in Halifax, Nova Scotia, where his cabinet is meeting to discuss economic and foreign policy matters. Key Points: Alignment with U.S. and Western Allies : Canada's decision follows similar moves by the U.S. and the European Union to impose tariffs on Chinese products, particularly in the EV sector. The U.S. recently introduced steep tariffs on Chinese EVs, batteries, and steel, while the EU has proposed additional duties on Chinese EV imports. Impact on Canadian Auto Industry : Canada’s auto sector, heavily integrated with that of the U.S., is a significant part of the country’s eco...