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Trade Tensions Rattle Wall Street’s Momentum

After an impressive streak of gains that pushed major U.S. indices to record highs, the stock market faced a sharp reversal as renewed trade tensions triggered investor anxiety. The Dow Jones Industrial Average, S&P 500, and Nasdaq all pulled back in Friday’s session, with financials and industrials leading the retreat. Concerns were reignited after new tariffs targeting tech and manufacturing imports between the U.S. and China surfaced, prompting fears of escalating economic friction. These measures, aimed at protecting domestic industries, were met with criticism from global partners and stoked uncertainty about the broader trade landscape. Analysts note that while earnings remain strong and economic indicators are still resilient, the shadow of protectionism looms large. Investor sentiment, which had been buoyed by dovish monetary policy and solid corporate results, now finds itself caught in geopolitical crosswinds. Many traders are now recalibrating their expectations heading ...

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Oshawa Auto Plant Workers Grapple with Uncertainty as U.S. Tariffs Take Effect

As the U.S. imposes heavy tariffs on Canadian goods, the auto industry in Ontario is bracing for significant disruptions. The General Motors (GM) plant in Oshawa, which produces the Chevrolet Silverado, is particularly vulnerable. The plant's parts cross the border multiple times before completion, making it highly susceptible to the impact of tariffs.

Workers at the Oshawa plant are feeling the pressure, with many expressing concerns about job security. "There's a lot of panic," said Jacob Lyte, a third-generation GM employee. The president of Unifor Local 222, Jeff Gray, echoed these sentiments, stating that the industry is facing one of its biggest crises ever.

Economists predict that the tariffs could lead to significant job losses in Ontario's auto sector. Peter Morrow, an economic professor at the University of Toronto, warned that assembly lines could shut down if the tariffs remain in place. The broader implications for the North American auto industry are also concerning, with potential long-term damage if the trade war continues.

Despite the uncertainty, there is hope that the economic impact on both sides of the border might prompt a reconsideration of the tariffs. Flavio Volpe, president of the Automotive Parts Manufacturers' Association, suggested that the U.S. might rethink its position if American autoworkers start facing layoffs.



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