Skip to main content

Featured

Weekly Market Snapshot: Mideast Tensions and Chip Selloff Rattle Global Markets (July 13–17)

  Week of July 13–17, 2026 It was a rough week to be a tech investor and a good week to own oil. Escalating conflict between the US and Iran pushed crude sharply higher and rattled global markets, while a fresh wave of selling in semiconductor stocks dragged US and Asian indices lower. Closer to home, the Bank of Canada held its key rate steady, and the TSX—less exposed to chipmakers—held up noticeably better than its US and Asian peers. Here’s how the week broke down across every major market, and what it means for your wallet. 🇨🇦 Canada: TSX Day Close Change Mon, Jul 13 35,252.72 -0.15% Wed, Jul 15 (BoC day) 35,416.20 +0.27% Thu, Jul 16 35,340.15 -0.21% Fri, Jul 17 ~35,262 -0.22% Week total (Fri-to-Fri) — ~flat (about -0.1%) The TSX had a choppy but ultimately quiet week compared with its global peers. Monday's session opened with the Strait of Hormuz blockade headlines and closed lower. Wednesday brought a relief rally after the Bank of Canada's rate hold, with financials ...
Post a Comment
Read more

article

Labels

Carney Concedes Tariff-Free U.S. Trade Deal Unlikely Amid Rising Tensions

 


 Prime Minister Mark Carney has shifted his tone on Canada’s trade negotiations with the United States, acknowledging that a tariff-free agreement is increasingly improbable under President Donald Trump’s administration.

Speaking ahead of a cabinet meeting, Carney stated there is “not a lot of evidence” that the U.S. is willing to strike deals without tariffs. This marks a departure from earlier optimism, as Canada faces the looming threat of a 35% blanket tariff on non-compliant exports starting August 1.

Carney emphasized that while Canada currently enjoys “almost free trade” under the Canada-U.S.-Mexico Agreement (CUSMA), sectoral tariffs on steel, aluminum, and autos continue to strain the economy. He reiterated the government’s commitment to protecting Canadian industries and workers, noting that negotiations will intensify in the coming weeks.

The U.S. has tied potential tariff relief to cooperation on narcotics enforcement, particularly fentanyl trafficking—a move Carney has not publicly endorsed. Meanwhile, Canadian officials are working to stabilize key sectors and prepare countermeasures if talks fail.

With the August deadline fast approaching, Carney’s remarks signal a more pragmatic approach to trade diplomacy, one that accepts tariffs as a likely fixture in future agreements.

Labels:

Comments

Post a Comment