Canada Financial News

(Bloomberg) — Prime Minister Justin Trudeau is not open to lifting Canada’s full package of retaliatory tariffs if US President Donald Trump leaves any tariffs on Canada in place, according to a senior Canadian government official.

Ontario will impose a 25 per cent tariff on power it sends to 1.5 million homes in Minnesota, Michigan and New York in response to fresh United States levies, Premier Doug Ford announced Tuesday.

Enbridge Inc. has made a nearly $2.5-billion bet that demand for Canadian oil and gas won’t slow down anytime soon as it announced large capital investments aimed at growing capacity on its Mainline crude pipeline to the United States and expanding natural gas transmission in Northern British Columbia.

shipping executives gathered this week in Long Beach, California, for a major annual conference, expecting to discuss market trends and supply chain challenges. Instead, they found themselves in crisis mode. On Tuesday, President Donald Trump upended decades of mostly free trade with the two biggest US trading partners, slapping 25% tariffs on goods from Mexico and Canada. The White House also layered another 10% duty on China on top of an identical hike a month before.

Rising price pressures could be worsened by a trade war, triggered by President Donald Trump's new 25% tariffs on imports from Mexico and Canada, which took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%. The Institute for Supply Management (ISM) said on Wednesday its nonmanufacturing purchasing managers index (PMI) climbed to 53.5 last month from 52.8 in January. Economists polled by Reuters had forecast the services PMI dipping to 52.6.

In a Wednesday interview with Bloomberg Television, Lutnick said that Trump would update his tariff plans with an afternoon announcement, possibly sparing sectors such as autos from the import taxes. «There are going to be tariffs, let's be clear,» Lutnick said. «But what he's thinking about is which sections of the market that can maybe — maybe — he'll consider giving them relief until we get to, of course, April 2.»

President Claudia Sheinbaum said that Mexico could shift trade alliances «if necessary,» referring to the possible continuation of the tariffs. Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with fresh duties on Chinese goods, standing to seriously alter supply chains and long-standing trade partnerships.

AFP quoted Ana Cristina Villalpando Fonseca, head of the National Chamber of the Tequila Industry (CNIT) as saying.According to Mexico’s Tequila Regulatory Council, two-thirds of the country's tequila produced last year was exported to the US, accounting for about 335 million liters. That made up 83.6 percent of tequila exports, representing about $4.5 billion worth of liquor.Following the new tariffs, Villalpando said prices for tequila will likely go up in the US.“The possible increase in tequila prices in the United States could encourage substitution with other alcoholic drinks," she said.US Tariffs News LIVE: According to truthsocial.com, US President Donald Trump's speech on new tariffs has been approved by 76 percent people.US Tariffs News LIVE: Speaking to reporters, as quoted by CNBC, Mexican President Claudia Sheinbaum said on Wednesday that she expects to speak with Trump on Thursday.Till now, Mexico has not yet declared retaliatory tariffs on the US, though Sheinbaum said on Tuesday that those would be announced this weekend.US Tariffs News LIVE: At the World Trade Organization on Wednesday, Canada has requested consultations with the United States on 'unjustified tariffs', Reuters quoted Canada's Ambassador to the WTO in Geneva as saying."The U.S.

Subscribe to enjoy similar stories. BEIJING : As President Trump ratchets up the political and economic pressure on China, Beijing has responded with a clear message: China will resist U.S. efforts to constrain its rise.

Subscribe to enjoy similar stories. Tech companies and their services-focused revenue don’t appear to be in the crosshairs of the new tariffs imposed between the U.S., Mexico and Canada on Tuesday. But they’re far from immune from a growing trade war.

Subscribe to enjoy similar stories. Target boss Brian Cornell and his team were walking through a New York City conference center Monday night when the news broke: President Trump was following through on his tariff threats. The retailer’s executives huddled sitting on sofas in a greenroom next to the stage where they would meet with their biggest investors on Tuesday.

Venue : Wanderers Cricket Ground, Windhoek Netherlands squad - Max O'Dowd, Michael Levitt, Noah Croes, Teja Nidamanuru, Vikramjit Singh, Bas de Leede, Colin Ackermann, Zach Lion-Cachet, Scott Edwards, Aryan Dutt, Fred Klaassen, Kyle Klein, Paul van Meekeren, Timm van der Gugten, Vivian Kingma Canada squad - Aaron Johnson, Dilpreet Bajwa, Navneet Dhaliwal, Nicholas Kirton, Pargat Singh, Yuvraj Samra, Ajayveer Singh, Akhil Kumar, Dilon Heyliger, Harsh Thaker, Saad Bin Zafar, Kanwarpal Tathgur, Shreyas Movva, Jatinderpal Matharu, Kaleem Sana, Parveen Kumar, Shahid Ahmadzai Netherlands vs Canada Match Details Match 55 of ICC CWC League 2, 2023-27 between Netherlands and Canada to be held at Wanderers Cricket Ground, Windhoek at 01:00 PM.

Donald Trump has set April 2 as the date for implementing reciprocal tariffs on a range of imports from several major trading partners. The tariffs, he said, are a response to what he considers unfair trade practices by countries like Canada, Mexico, China, the European Union, and India. This move is part of Trump’s broader agenda to reshape U.S. trade policies and create a more balanced global trading environment.

Indian rupee gained on Wednesday on broad-based interbank dollar sales and after the central bank's firm defence of 87.40-87.50 levels in recent sessions helped keep a lid on speculative bets against the currency. The rupee was at 87.1550 against the U.S. dollar as of 10:00 a.m. IST, up 0.1% on the day.

«Still, it remains to be seen if that is what it is or this is actually a new world where we basically have everybody having a tariff barrier and the free trade that we have all grown up with becomes less and less,» says Rajeev Agrawal, DoorDarshi India Fund. I guess all of us are hooked on to Trump's address, waiting to hear if he is going to say anything specific on Canada and Mexico tariffs or not. But how do you think this entire tariff tirade is going to really play out because the chatter in the US as well is tariffs are not good for them either. Rajeev Agrawal: So, no, absolutely, tariffs have created a lot of uncertainty in the whole world and how they will play out. Initially, the expectation was that tariffs is a way for negotiation to ensure that US companies get their fair share when they go into other countries.

International Monetary Fund Managing Director Kristalina Georgieva. Many nations are facing weaker growth prospects and are saddled with high debt while supply chains have come under pressure due to the Covid-19 pandemic and geopolitical developments, Georgieva said remotely from the US at an IMF event in Tokyo. “We also know trade is no longer the engine of global growth it used to be,” she said. “The new US administration is rapidly reshaping its policies on trade, taxation, public spending, deregulation and digital assets, and other governments are also recalibrating their approaches and adjusting their policies.”

Donald Trump's long-threatened tariffs are here, plunging the country into an escalating trade war with China, Canada and Mexico. Trump’s 25% tariffs on imports from Canada and Mexico went into effect Tuesday, along with a heightened 20% levy on Chinese goods. In response, all three countries announced retaliatory measures. Experts say consumers and businesses will be the hardest hit. Companies big and small will face higher costs on the goods they buy from other countries — and could have little recourse but to hike prices themselves. For consumers, that will likely mean more expensive price tags on everything from cars, appliances and other big-ticket items to smaller, everyday purchases including electronics, gasoline and groceries.

Donald Trump's much anticipated speech got underway on the wee hours of Wednesday and the 78-year-old Republican hailed the country's achievements in the last 40-odd-days and said that 'America is back'. «We have accomplished more in 43 days than most administrations accomplish in four years or eight years — and we are just getting started,» Trump said as chants of «USA, USA!» erupted from the lawmakers seated in the US Capitol. «The American Dream is surging — bigger and better than ever before. The American Dream is unstoppable, and our country is on the verge of a comeback the likes of which the world has never witnessed, and perhaps will never witness again.»

Subscribe to enjoy similar stories. President Trump won the Presidency a second time by promising working-class voters he’d lift their real incomes. Which makes it all the more puzzling that he’s so intent on imposing tariffs that will punish those same Americans.

Subscribe to enjoy similar stories. When Warren Buffett lambasted US President Donald Trump’s imposition of tariffs as “an act of war to some degree," he wasn’t wrong. Of course, there’s no conventional battle going on.

Subscribe to enjoy similar stories. Toy makers are worried, as everything from dolls to board games is about to get more expensive. Hundreds of toy companies, ranging from giants such as Hasbro, Mattel and Lego, down to the smallest tinkerers, gathered at New York’s Toy Fair in recent days with the spectre of tariffs looming large.