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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...
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Trump Promises 25% Tariff on Products from Mexico and Canada

 

 

U.S. President-elect Donald Trump announced on Monday that he will sign an executive order imposing a 25% tariff on all products entering the United States from Mexico and Canada. This move is part of his broader strategy to address issues related to illegal immigration and drug trafficking, particularly fentanyl.

Trump made the announcement on Truth Social, stating that the tariffs will remain in place until Mexico and Canada take significant measures to curb the flow of drugs and illegal migrants across their borders. He emphasized that this action is necessary to protect American jobs and national security.

The proposed tariffs have sparked concerns among economists and trade experts, who warn that such measures could lead to higher prices for American consumers and potential retaliatory actions from Mexico and Canada. The tariffs are expected to impact a wide range of products, including automobiles, electronics, and agricultural goods.

Canadian and Mexican officials have yet to respond to Trump's announcement, but the move is likely to strain trade relations between the three countries. The tariffs could also complicate the implementation of the United States-Mexico-Canada Agreement (USMCA), which was designed to facilitate trade and economic cooperation in North America.

As the January 20th inauguration date approaches, businesses and consumers are bracing for the potential economic fallout from these tariffs.


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