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Bank of Canada Holds Steady Amid Trade Turbulence

  The Bank of Canada has opted to maintain its key interest rate, signaling a cautious approach as uncertainty swirls around international tariffs and trade relations. This move keeps the benchmark rate unchanged, offering a stabilizing signal to markets while leaving room for potential rate cuts in the months ahead. The decision reflects concerns over economic fragility, particularly as Canadian exporters face mounting pressure from shifting global trade dynamics. While inflation has shown signs of easing, policymakers remain wary of unpredictable external shocks that could weigh on domestic growth. Governor Tiff Macklem indicated that future rate adjustments are not off the table, especially if trade tensions escalate or if inflation continues to track below target. Analysts interpret the Bank's message as a strategic pause rather than a pivot, allowing for flexibility in a volatile economic climate. For Canadian households and businesses, the move offers short-term reassuran...
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Trump to Send “Take-It-or-Leave-It” Tariff Letters to 12 Nations on Monday


U.S. President Donald Trump announced that he has signed letters to 12 countries detailing new tariff levels on goods exported to the United States. The letters, described as “take it or leave it” offers, are scheduled to be dispatched on Monday, July 7.

Speaking aboard Air Force One en route to New Jersey, Trump declined to name the countries involved, stating that the list would be made public on Monday. The move follows a 90-day pause on elevated tariffs, which is set to expire on July 9. If no trade agreements are reached by then, the new tariffs—ranging from a base rate of 10% to potentially as high as 70%—will take effect on August 1.

Trump emphasized the simplicity of the letter approach, saying, “The letters are better… much easier to send a letter,” signaling a shift away from prolonged trade negotiations that have stalled with several major partners, including the EU and Japan.

So far, the U.S. has finalized trade deals with the United Kingdom and Vietnam, while talks with India and the European Union remain unresolved. The administration’s strategy marks a significant escalation in its efforts to reshape global trade relationships on what it calls “reciprocal” terms.

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