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Carney Urges Calm as Trump Escalates Tariff Dispute with Canada

                                                      Canada Prime Minister Mark Carney Canadian Prime Minister Mark Carney sought to reassure Canadians after U.S. President Donald Trump announced a 10% hike on tariffs targeting Canadian imports. The move, triggered by a controversial Ontario government advertisement aired during the World Series, has reignited trade tensions between Ottawa and Washington. Carney, speaking while on a trip to Asia, emphasized that Canada “will not be bullied” and highlighted his government’s strategy to diversify trade partnerships, particularly with Asian markets.He underscored that Ottawa remains open to dialogue with Washington but will continue to protect Canadian workers and industries. The tariff escalation comes at a sensitive moment, as both countries had been negotiating to ease earlie...
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C$ falls to a four-week low against the US dollar as investors watch the economy's reaction to rate hikes

 


The Canadian dollar (C$) has slipped against the US dollar as investors are keeping a close eye on the economy's reaction to rate hikes. The C$ fell to a near four-week low against the US dollar, trading 0.4% lower at 1.3395 to the greenback, or 74.65 US cents. The Bank of Canada (BoC) has said that a slowdown in the domestic economy is an indication that its monetary policy is working. Money markets expect the central bank to cut its benchmark interest rate in April after holding it at a 22-year high of 5% for a third straight policy meeting in December. Canadians borrowed heavily during the pandemic to participate in a red-hot housing market. The BoC has said that the domestic economy is particularly sensitive to higher borrowing costs. 



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