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Wall Street Stumbles as Trump’s Tariff Threats Rattle Global Markets

U.S. stock markets kicked off the week in the red as renewed trade tensions sparked by former President Donald Trump sent shockwaves through Wall Street. The Dow Jones Industrial Average tumbled over 400 points, while the S&P 500 and Nasdaq Composite dropped 0.8% and 0.9% respectively. The sell-off followed Trump’s announcement of sweeping new tariffs set to take effect on August 1. In a series of public letters posted to social media, Trump warned that countries including Japan, South Korea, South Africa, and Malaysia would face levies ranging from 25% to 40% unless trade agreements are finalized by a self-imposed July 9 deadline. Adding to the market jitters, Trump declared that any nation aligning with the “Anti-American policies of BRICS” would be hit with an additional 10% tariff, escalating tensions with key trading partners like China and India. The tech sector bore the brunt of the downturn, with Tesla shares plunging nearly 7% amid political controversy surrounding CEO Elo...
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Carney Unveils Trade War Relief Measures and Infrastructure Boost

Prime Minister Mark Carney has announced a comprehensive plan to mitigate the impact of the ongoing U.S. trade war on Canada. In a bold move, Carney pledged to expedite infrastructure projects across the nation, aiming to strengthen the economy and support Canadian workers during these challenging times.

Carney emphasized the importance of collaboration with provincial leaders to develop a unified national trade strategy. He also introduced measures to streamline project approvals, including a "One Window" process to accelerate major infrastructure developments. These initiatives are expected to bolster Canada's resilience against U.S. tariffs and diversify its economic partnerships.

The announcement comes amidst escalating tensions with the U.S., as President Trump's tariff policies continue to strain bilateral relations. Carney's proactive approach signals a commitment to protecting Canadian interests while fostering long-term economic growth.

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