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Trump's 50% Auto Tariff Threat: What It Means If You're Buying a Car in 2027

  Vehicle prices in Canada are already up thousands of dollars since the trade war began. A threatened doubling of auto tariffs on January 1, 2027 could push them higher still — here's what's confirmed, what's not, and what it means if you're in the market for a car. On Monday, U.S. President Donald Trump posted on Truth Social that tariffs on all Canadian-made cars, trucks, auto parts, and steel would rise to 50% starting January 1, 2027 — effectively doubling the current 25% rate. The threat landed hours after cross-border trade talks collapsed late Friday night, triggering a separate round of 50% tariffs on roughly $20 billion of other Canadian goods and a promised Canadian retaliation package set for September 8. For anyone shopping for a new or used vehicle in Ontario — or watching an auto-sector paycheque — here's what's actually changed, and what's still just a threat. What Trump actually announced The post is specific on rate and date but light on me...
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S&P 500 Inches Closer to Record High Amid Optimism About Fed’s Policy and Year-End Effect

 

The S&P 500 index closed just shy of a new record high on Thursday, with the broad index gaining 0.04%. The tech-heavy Nasdaq Composite fell 0.03%, while the Dow Jones Industrial Average rose 0.1%. Markets are ending 2023 on a hot streak, with all three indexes on pace for a ninth consecutive weekly gain. For the S&P 500, that would mark the longest streak since January 2004. The index is now within 0.3% of its all-time high, set in January 2022. With one trading session remaining in 2023, the S&P 500 is up 25%.

Investors are optimistic that the Federal Reserve can successfully cool inflation without inducing a major economic slowdown, which has powered the market’s recent advance. Now, some investors say the looming end of the calendar year is giving markets an extra boost. “Nobody who has caught this rally wants to incur a taxable event,” said Michael Green, chief strategist at Simplify Asset Management. “If nobody wants to sell, prices will push higher on low volume”.

The jobless claims data released by the Labor Department on Thursday indicated a gradual cooling of the economy. Initial jobless claims, considered a proxy for layoffs, were 218,000 in the week ending Dec. 23, slightly more than the 215,000 that economists expected.

Bond yields rose as prices fell, reflecting expectations of higher inflation and interest rates. The yield on the benchmark 10-year Treasury note rose to 3.849%, up from 3.7%.

Some investors are increasing their exposure to energy and industrial stocks, which could benefit from a strong economic recovery. Matt Dmytryszyn, chief investment officer at Telemus Capital, said his fund is boosting its position in shares of energy and industrial firms.


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