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Trump's Tariff Shake-Up: Global Trade Faces New Challenges

On April 2, 2025, U.S. President Donald Trump announced sweeping 10% tariffs on imports from all trading partners, marking a significant escalation in global trade tensions. These tariffs, described as "baseline," aim to address what Trump perceives as unfair trade practices and chronic trade deficits. While the announcement has sent ripples across international markets, the specific impact on Canada remains uncertain. Canada, a close trading partner of the U.S., has previously faced tariffs on steel, aluminum, and energy imports under Trump's administration. The new measures could further strain bilateral relations and affect key Canadian industries. Prime Minister Mark Carney is reportedly preparing Canada's response, as the trade war becomes a central issue in the upcoming federal election. Trump's move has sparked debates among economists and policymakers, with critics warning of potential economic fallout and supporters praising the tariffs as a step toward ...
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TSX set to end the year on a positive note amid global recovery hopes

The Toronto Stock Exchange (TSX) is expected to open higher on Friday, the last trading day of 2023, as investors remain optimistic about the global economic recovery from the pandemic.

The TSX closed at a record high of 23,456.78 on Thursday, boosted by gains in energy, financials, and materials sectors. The index has risen more than 20% this year, outperforming its U.S. peers, as Canada’s economy rebounded from the COVID-19 crisis.

The positive sentiment was also supported by the latest data showing that Canada’s GDP grew by 0.4% in October, beating expectations of a 0.2% increase. The growth was driven by the services sector, which expanded by 0.6%, while the goods-producing sector contracted by 0.1%.

On Friday, the TSX futures were up 0.3% at 7:30 a.m. ET, indicating a higher open for the cash market. The Canadian dollar was trading at 79.32 U.S. cents, slightly lower than Thursday’s close of 79.36 U.S. cents.

Meanwhile, the U.S. stock futures were also pointing to a higher open, as Wall Street looked to end the year with record highs. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq Composite have gained 18.7%, 26.9%, and 21.4% respectively this year, as the U.S. economy recovered from the pandemic-induced recession.

The U.S. markets will close early at 1 p.m. ET on Friday, while the TSX will close at its regular time of 4 p.m. ET. Both markets will be closed on Monday, January 1, 2024, for the New Year’s Day holiday.

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