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Trump Threatens New 50% Auto Tariffs on Canada as Loonie Slides and Gold Hits a Record

Tuesday, August 25, 2026   Canadian markets head into Tuesday with a fresh trade shock to digest. President Trump said Monday he'd raise tariffs on Canadian automobiles, auto parts and steel to 50% starting January 1, 2027, posting on Truth Social that "Canada will be treated like a State no longer!" — a sharp escalation just two days after the existing 50% tariffs on roughly $28 billion of other Canadian goods took effect. The threat came even as Canadian Prime Minister Mark Carney's promised retaliatory tariffs, set to begin September 8, remain on the calendar. The loonie took the hit directly, sliding to 72.24–72.27 US cents (about 1.383–1.385 USD/CAD) Monday, down roughly half a cent from Friday's 72.67 cents and pulling well off last week's multi-week high. The TSX, by contrast, still closed higher, propped up by a record-setting rally in gold. Wall Street was more mixed, with chip stocks dragging the S&P 500 and Nasdaq lower even as the Dow eked o...
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Trump's Day 1 Agenda: Deportations, Pardons, and Legal Maneuvers

 

On his first day back in office, President-elect Donald Trump has outlined an ambitious agenda that includes initiating a mass deportation push, pardoning individuals involved in the January 6 Capitol riot, and addressing his own legal challenges. Trump has stated that his administration will prioritize securing the U.S. border and reversing policies from the previous administration.

Trump's plan includes the deportation of undocumented immigrants, particularly those involved in criminal activities. He has emphasized the importance of national security and public safety in his approach. Additionally, Trump has promised to pardon many of the individuals convicted for their roles in the January 6 riot, referring to them as "unbelievable patriots".

In terms of his legal battles, Trump aims to leverage his position to address the federal cases against him. He has expressed his intention to fire Special Counsel Jack Smith, who has been prosecuting two federal cases against him. Trump's legal team is also exploring ways to set aside or expunge his felony conviction in New York and delay the case in Georgia until the end of his presidential term.

As Trump prepares to take office, his bold plans are set to spark significant debate and controversy, both domestically and internationally.

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