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Trump's 50% Auto Tariff Threat: What It Means If You're Buying a Car in 2027

  Vehicle prices in Canada are already up thousands of dollars since the trade war began. A threatened doubling of auto tariffs on January 1, 2027 could push them higher still — here's what's confirmed, what's not, and what it means if you're in the market for a car. On Monday, U.S. President Donald Trump posted on Truth Social that tariffs on all Canadian-made cars, trucks, auto parts, and steel would rise to 50% starting January 1, 2027 — effectively doubling the current 25% rate. The threat landed hours after cross-border trade talks collapsed late Friday night, triggering a separate round of 50% tariffs on roughly $20 billion of other Canadian goods and a promised Canadian retaliation package set for September 8. For anyone shopping for a new or used vehicle in Ontario — or watching an auto-sector paycheque — here's what's actually changed, and what's still just a threat. What Trump actually announced The post is specific on rate and date but light on me...
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5 Things to Know Today: Canada’s Money Headlines

1. Bank of Canada expected to hold rates amid Iran‑war price pressures

The Bank of Canada is preparing its next rate decision, with policymakers weighing inflation risks tied to the Iran conflict. Markets expect a hold as the Bank releases its new monetary policy report this week. 

2. Oil & energy costs rise as global uncertainty persists

Oil prices climbed more than US$2.50 as geopolitical tensions continue to influence global supply expectations. Canadian producers are also facing scrutiny, including Cenovus’s Newfoundland oilfield extension, which is projected to increase emissions by 21%.

3. Inflation pressures remain elevated for Canadian households

Canada’s annual inflation rate rose to 2.4% in March, driven largely by higher gas prices. Rising costs continue to squeeze consumers, with food and essentials remaining stubbornly expensive. 

4. Retail sales slow as Canadians pull back

New data shows retail sales growth is losing momentum as households tighten budgets. Analysts point to persistent cost‑of‑living pressures and economic uncertainty as key drivers of the slowdown. 

5. Corporate shakeups: Apple, Meta, and Lululemon in transition

Apple’s long‑time CEO Tim Cook is stepping down, with hardware chief John Ternus taking over. Meanwhile, Meta plans to cut 8,000 jobs, and Lululemon is preparing for a leadership change as a former Nike executive steps in. These shifts could influence tech and retail markets globally.


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