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TSX Ends April Under Pressure as BoC and Fed Hold Rates Amid Iran Tensions

April 30, 2026 | Canadian Money Brief TSX Closes Lower to End April as Central Banks Hold Firm, Oil Stays Elevated Canadian equities slipped on Wednesday, with the S&P/TSX Composite Index falling 0.8% to close at 33,318 as both the Bank of Canada and the U.S. Federal Reserve held interest rates. Rate Holds on Both Sides of the Border The BoC kept its policy rate at 2.25%, maintaining a wait-and-see approach amid ongoing US-Iran tensions that are stoking inflationary fears. South of the border, the Fed held its benchmark rate in the 3.5%–3.75% range, citing the spike in oil prices and heightened economic uncertainty from the Iran conflict. Banks Dragged, Energy Lifted The rate holds weighed on Canada's big banks. BMO was down 2%, Royal Bank of Canada fell 1.3%, and TD dropped 0.8%. Energy stocks were a bright spot, however. Canadian Natural Resources gained nearly 2% while Agnico Eagle lost nearly 3%, as gold prices softened while crude surged. Oil and OPEC+ in Focus WT...
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China Strikes Back: Retaliatory Tariffs Signal Renewed Trade Tensions

 

New U.S. tariffs have come into force, triggering an immediate response from Beijing. As the 10% duty on Chinese exports takes effect, Chinese officials have announced a series of countermeasures aimed at protecting national interests and sending a strong message to Washington.

In a swift reply, China will impose a 15% tariff on U.S. coal and liquefied natural gas imports, and a 10% levy on U.S. crude oil, agricultural machinery, and large vehicles. The retaliatory measures also extend to the imposition of export controls on key rare earth metals that are critical for high-tech manufacturing and the transition to clean energy. In addition, Chinese regulators have launched an antitrust investigation into Google, further intensifying the dispute.

Although these new tariffs are scheduled to take effect on Monday, their announcement underscores Beijing’s readiness to challenge U.S. protectionist policies. China has vowed to defend its interests through legal channels at the World Trade Organization, while also leaving open the possibility for negotiations aimed at de-escalating the growing trade conflict.

These developments highlight that, despite ongoing calls for dialogue, the trade dispute between the world’s two largest economies remains far from resolved.


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