Skip to main content

Featured

Global Markets Rattle as Oil Spikes and U.S. Futures Sink Amid Escalating Middle East Conflict

  Markets are sliding as geopolitical tensions intensify, with U.S. stock futures turning sharply lower and oil prices surging above the $100 mark. Investors are reacting to escalating conflict in the Middle East, which is raising fears of disrupted energy supplies and renewed inflation pressures.  Market Overview Dow Jones futures fell roughly 0.8% , extending a multi‑day downturn. S&P 500 and Nasdaq futures each slipped about 0.6% , paring earlier, deeper losses.  The declines reflect mounting investor anxiety as geopolitical risks overshadow recent economic data. Oil Surges on Supply Fears Crude oil spiked above $100 per barrel before easing slightly. The surge followed Iran’s expanded attacks on energy infrastructure , prompting Iraq to close key oil terminals after tanker strikes.  Higher oil prices are stoking concerns about inflation , complicating expectations for future Federal Reserve policy. What’s Driving the Selloff The widening Mi...
Post a Comment
Read more

article

Labels

Canada to Introduce Tariffs on Chinese EVs and Batteries in Response to U.S. and Europe

Finance Minister Chrystia Freeland is set to announce a plan to safeguard Canada’s electric vehicle (EV) supply chain from unfair Chinese competition. This move follows similar actions by the United States and Europe, which have raised import tariffs on Chinese-made EVs. 

The Canadian International Trade Tribunal will complete an anti-subsidy investigation before new tariffs can be imposed. Currently, Canada only imports Chinese-made Teslas produced at the U.S. tech giant’s Shanghai factory. However, China plays a significant role in supplying batteries and battery components for EVs globally. In 2021, nearly 80% of all lithium-ion batteries for electric vehicles came from China, and approximately 60% of global EV sales are now Chinese-made. 

The proposed tariffs aim to balance protectionism with emissions reduction efforts, echoing the recent tariff hikes by the U.S. and Europe. 

Labels:

Comments

Post a Comment