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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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Markets decline as Fed minutes fail to boost confidence



The stock markets in the U.S. and Canada started the new year with two consecutive sessions of losses, as investors remained cautious about the Federal Reserve’s plans to cut interest rates this year.

The Fed minutes from its December meeting, released on Wednesday, showed that policymakers were increasingly convinced that inflation was under control and that overly restrictive monetary policy could harm the economy. However, the minutes did not provide much clarity on when and how much the Fed would lower rates, disappointing some traders who had hoped for more guidance.

The S&P 500 index fell 0.8%, while the Nasdaq Composite dropped 1.18% and the Dow Jones Industrial Average slid 0.76%. The TSX composite index also ended down 0.3%, extending its pullback from a 19-month high.

Among the sectors, energy was the only bright spot, as oil prices rose sharply due to a disruption at Libya’s top oilfield. Suncor Energy was the top performer on the TSX, gaining 5.9%. On the other hand, materials, consumer discretionary and financials dragged the markets lower, as a stronger U.S. dollar weighed on gold and copper prices and rate-sensitive stocks.

Airline stocks also suffered, as higher oil prices raised concerns about fuel costs. The S&P 1500 passenger airlines index plunged 4%.

Some individual stocks also made headlines, such as First Quantum Minerals, which surged 11% after a report that Barrick Gold was exploring a possible bid for the company. Barrick’s shares, however, fell 2.9%. Citigroup also continued its rally, rising 1.1% to its highest level since mid-August 2022, after a positive analyst report from Wells Fargo.

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