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Canada’s Inflation Climbs to 2.4% as Gas Prices Surge to Record High

  Canada’s inflation rate accelerated to 2.4% in March , up from 1.8% in February, as the Iran war triggered the largest monthly gasoline price increase on record . Statistics Canada reported that gas prices surged 21.2% month‑over‑month , a supply‑shock response to Iran’s closure of the Strait of Hormuz and broader Middle East instability.  Energy costs were the dominant driver of March inflation, with overall energy prices rising 3.9% year‑over‑year after a sharp decline the month before. Excluding gasoline, inflation would have eased to 2.2% , highlighting how concentrated the price shock was.  Food inflation offered mixed relief: grocery prices rose 4.4% , while fresh vegetables jumped 7.8% due to difficult growing conditions. Restaurant inflation cooled sharply as last year’s tax‑holiday distortions fell out of the annual comparison.  Economists note that while headline inflation spiked, core measures remained relatively tame , giving the Bank of Canada ro...
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Trump-Era Tariffs Under Scrutiny in Pivotal Appeals Court Case

 

                                             US President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House 

A major legal challenge to former President Donald Trump’s steel and aluminum tariffs is now facing a critical test at a U.S. appeals court, potentially reshaping the scope of presidential trade authority.

The case centers on Section 232 of the Trade Expansion Act of 1962, which allows the president to impose tariffs on imports deemed a threat to national security. Trump used this provision in 2018 to levy tariffs on steel and aluminum from several countries, sparking backlash from trade partners and legal challenges from affected companies.

Plaintiffs argue that the administration exceeded its authority by expanding and modifying the tariffs beyond the original scope without proper congressional oversight. The government contends that the president acted within the bounds of national security concerns and that the executive branch has broad discretion under Section 232.

The outcome of the appeals court decision could have far-reaching implications—not only for the Trump-era tariffs but also for future administrations seeking to use trade tools for geopolitical or economic leverage. Legal experts say the case may clarify the limits of executive power in trade policy and influence how future tariff actions are implemented.

A ruling is expected later this year.


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