Trump, Canada and tariffs
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Bloomberg |
President Donald Trump’s “Liberation Day” tariffs will likely hurt US regional and Canadian banks, while Chinese banks’ exposure seems limited.
Yahoo |
Carney said Canadians are already seeing the impact. Automaker Stellantis said it shut down its assembly plant in Windsor, Canada, for two weeks from April 7, the local union said late Wednesday.
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The Senate vote came after Trump implemented 10% across-the-board tariffs on imports and additional reciprocal tariffs on goods from 60 countries.
Long-threatened tariffs from U.S. President Donald Trump have plunged the country into a global trade war — all while on-again, off-again new levies further escalate uncertainty.
After several years of consistent mortgage rate increases and soaring home prices, the prognosis for the 2025 housing market seemed promising at the start of the the year. However, recent economic and political instability has cratered consumer confidence and homebuyer optimism.
U.S. stocks opened down Friday morning after China announced retaliatory tariffs overnight, continuing a tumble beginning after Wednesday's announcement. JP Morgan now calculates a 60% chance for a recession this year.
Four GOP senators joined all Democrats in voting to rescind an emergency declaration Trump issued in February, which determined the flow of fentanyl and illegal immigration numbers constituted a national emergency. That declaration was used as the justification for 10% tariffs later levied on Canadian imports.
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The price tag for Apple’s iPhones may increase by more than 40% after President Donald Trump announced sweeping reciprocal tariffs on U.S. trade partners, analysts said Thursday, as Trump’s trade policies will likely increase prices across several imported goods, including new cars, coffee, chocolate and other products.
They failed to see that the most serious consequences would instead be in the area where Trump often showed the most interest: global trade and economics. Unlike many other areas of his new presidency,
The Chinese government said it would match President Trump’s tariff, and also barred a group of American companies from doing business in China.
Ahead of the presidential announcement on tariffs April 2, Farmers for Free Trade, a national nonprofit, hosted a live town hall from Tubac, Arizona, with economists and agricultural leaders. The discussion on the economic implications of tariffs took place as part of the Fresh Produce Association of the Americas' Spring Policy Summit,