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Markets Soar to Record Highs as Loonie Rebounds Amid Trade Optimism

North American stock markets kicked off July with a bang, as the TSX, S&P 500, and Nasdaq all closed at record highs  on Monday, buoyed by strong tech performance and renewed optimism around global trade negotiations. The S&P 500 rose 0.52% to 6,204.95 , while the Nasdaq climbed 0.48% to 20,369.73 , both notching fresh all-time highs. The Dow Jones Industrial Average added 275 points , closing at 44,094.77. Canada’s TSX Composite Index also surged , reflecting investor confidence in the domestic economy and easing geopolitical tensions. Driving the rally were heavyweight tech stocks like Nvidia, Meta, and Microsoft, which continued to benefit from investor enthusiasm around artificial intelligence and digital transformation. The momentum was further supported by Canada’s decision to scrap its digital services tax, a move seen as a goodwill gesture to advance trade talks with the U.S.. Meanwhile, the Canadian dollar (loonie) rebounded  from last week’s dip, recovering g...

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Trudeau Secures 30-Day Tariff Truce Amid Border Security Negotiations

In a bid to ease escalating trade tensions, Canadian Prime Minister Justin Trudeau announced that U.S. tariffs on Canadian imports would be paused for at least 30 days. This decision, revealed shortly after his second call with U.S. President Donald Trump, is designed to provide both nations with a critical cooling-off period while they work toward a comprehensive economic deal. 

Under the new arrangement, Canada has pledged to bolster its northern border security by deploying nearly 10,000 frontline personnel and accelerating its $1.3 billion border plan. Among the key measures, the government will launch a Canada–U.S. Joint Strike Force aimed at curbing fentanyl smuggling and organized crime—a commitment that underscores the seriousness of the negotiations. 

The move follows a similar pause announced for tariffs on Mexican imports, with Mexican President Claudia Sheinbaum also agreeing to deploy additional troops to secure the border. The temporary suspension is seen as an effort to stave off a potentially damaging trade war that could affect industries and jobs on both sides of the border. 

While the agreement grants time for further discussions, both Canadian and American officials remain cautious. For Canada, the pause is not only a diplomatic victory but also an opportunity to implement long-term measures that address pressing security concerns. In the United States, business leaders and policymakers are watching closely, hopeful that this period of negotiation will lead to a stable, mutually beneficial economic arrangement.

The coming weeks will be crucial as both nations work to finalize the details of an economic pact that could reshape trade relations and enhance border security for the foreseeable future.

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