Canada Financial News

Global markets have endured some severe volatility this month as the president looks to ramp up pressure on global partners by imposing or threatening hefty duties on their goods, citing huge trade imbalances.

Subscribe to enjoy similar stories. The outlook for the U.S. economy this year isn’t so rosy anymore.

trade policies. The euro hovered close to a five-month peak on increased optimism for an end to the war in Ukraine.

Trump's tariff wars. Ukraine said on Tuesday it is willing to accept a U.S. proposal for a 30-day ceasefire, a deal that Washington will now put to Moscow.

Oil prices edged up early on Wednesday, helped by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains. Brent futures rose 27 cents, or 0.39%, to $69.83 a barrel at 0110 GMT, while U.S. West Texas Intermediate crude futures gained 29 cents, or 0.44%, to $66.54 a barrel.

Canadian snowbirds who drive across the border, with officials requiring visitors to stay for at least a month to register on the government's website, CTV News reported. Rosanna Berardi, managing partner of Berardi Immigration Law in New York's Buffalo, said snowbirds who are already staying in the US should also register on the website. In an interview with CTV News, Berardi said the new requirements will come into effect on April 11 and the US government will release a public notice online with more details on Wednesday. She cited information from a document that the US Department of Homeland Security provided in advance to her and other members of the American Immigration Lawyers Association. Berardi said that the registration process is «pretty straightforward» and it is free to register. However, she mentioned that the process is «a bit lengthy.» She further said that people of Canada have been exempted from providing fingerprints.

Trump's threat came after Ontario Premier Doug Ford retaliated against the US by imposing 25% tariffs on three American states—Michigan, New York, and Minnesota, and Ford also threatened to «shut the electricity off completely if America continues to escalate,» Daily Mail reported.

Carney, who will be sworn in as Justin Trudeau's replacement in the coming days, said Trump's latest tariffs are an attack on Canadian workers, families, and businesses. «My government will ensure our response has maximum impact in the U.S. and minimal impact here in Canada, while supporting the workers impacted,» Carney said. He added: «My government will keep our tariffs on until the Americans show us respect and make credible, reliable commitments to free and fair trade.» Trump said Tuesday that he will double his planned tariffs on steel and aluminum from 25% to 50% for Canada, escalating a trade war with the United States' northern neighbor and showing an indifference to recent stock market turmoil and rising recession risks.

Donald Trump’s tariffs on Canada and Mexico will soon come into effect. The two allies of the US are top suppliers of food and beverages. Experts have predicted that prices of various essential goods will see a rapid hike. Donald Trump, soon after assuming office for his second term, announced 25 per cent tariffs on Canada and Mexico before freezing it for a limited period after market backlash.

The benchmark BSE Sensex lost 12.85 points or 0.02% to close at 74,102.32, while the broader Nifty 50 index closed at 22,497.90, higher by 37.60 points or 0.17%.

Bitcoin's price dropped to $76,889, its lowest point since November while second-ranked token Ether dropped as much as 6% to $1,756, an intra-day low not seen since October 2023, according to data compiled by Bloomberg. Both tokens later erased those declines.

Subscribe to enjoy similar stories. The White House granted a temporary reprieve for many of its tariffs on Canada and Mexico last week, but a similar pause seems less likely for revamped global steel and aluminum tariffs set to go into effect Wednesday. President Trump’s team has repeatedly said there would be no exceptions or exemptions from the 25% tariffs on steel and aluminum.

Sensex and Nifty, traded lower on Tuesday, following a widespread sell-off in Asian markets after Wall Street dropped overnight due to recession concerns in the US. The rupee is likely to stay under pressure on Tuesday, as concerns over a potential recession sapped risk appetite across financial markets, driving most Asian currencies lower.

Bitcoin, Ethereum, Solana, XRP, Cardano, and Dogecoin, declined on Monday as concerns over the U.S. economy and global trade tensions weighed on investor sentiment. A run of soft U.S. economic data continued on Friday after monthly figures showed the labour market created fewer jobs than expected last month, in the first payrolls report capturing former U.S. President Donald Trump’s policies.

Deepak Shenoy, Founder, Capital Mind, says from April 2nd, universally the reciprocal tariffs are in place. Given that, the next month is going to be volatile regardless of what happens. But I find that in markets, price uncertainty affects badly. That means markets just go down regardless of what the fundamentals might turn up. Stability will come only with some layer of certainty. We should look at the rest of this month and maybe the first few days of April as going to be tumultuous in the markets regardless. What do you make of the markets right now because the week gone by has been really good, but then comes Monday. Indeed, a volatile trading session. But given this weakness that we are seeing right now, what is your sense? Is this volatility here to stay? And what is the long-term trend that you are focusing on? Deepak Shenoy: There is a weakening trend in general. The rupee has weakened as well today, 20 odd paisa. There has also been a reversal in the market. But I feel this is mostly related to the uncertainty at a global standpoint because nothing meaningful in India has changed so far. One of the biggest threats right now is tariffs and what we will do to perhaps address them.

Subscribe to enjoy similar stories. Washington and Beijing have begun discussions about a potential “birthday summit" in June in the U.S. between President Trump and Chinese leader Xi Jinping, according to people familiar with the matter.

Subscribe to enjoy similar stories. THE SELL-OFF shows no sign of stopping. America’s S&P 500 index dropped by another 3% on March 10th, leaving the world’s most watched stockmarket down by almost 9% since its peak last month.

Bank of Canada interest rate cuts might not be able to fix the damage of a trade war — but they can’t hurt either, say economists.

TORONTO — Royal Bank of Canada says it has laid off some employees as part of its “growth strategy.”

United States President Donald Trump’s tariff war has become a complicated roller coaster of international trade disputes.

The Bank of Canada is expected to cut its interest rate by 25 basis points on Wednesday, amid trade uncertainty with the United States.