On March 12, the Bank of Canada cut interest rates by 25 basis points as scheduled, lowering interest rates from 3.00% to 2.75%.
The Bank of Canada: Rising trade tensions and U.S. tariffs could increase inflationary pressures in Canada and dampen economic growth.
The Canadian swap market expects the probability of another rate cut by the Bank of Canada in April to be around 50%.
On March 12, White House trade adviser Navarro said on Tuesday afternoon local time that President Trump will not increase the import tariff of Canadian steel and aluminum to 50% on Wednesday. Six hours ago, Trump announced plans to double the 25% import tariff on Canadian metals in response to the decision of Ontario to impose a 25% surcharge on electricity exports to the United States (which was cancelled after Trump's threat). This move by Ontario itself is retaliation for Trump's 25% tariff ...
White House trade adviser Navarro said that a 50% steel and aluminum tariff will not be imposed on Canada tomorrow (March 12 local time).
The Premier of Ontario, Canada, has agreed to suspend a 25% surcharge on electricity exports to Michigan, New York, and Minnesota.
The governor of Ontario, Canada, said he would not hesitate to cut off power to the United States if necessary.
Market news: The Premier of Ontario, Canada, will hold talks with U.S. Secretary of Commerce Lutnik today.
According to CNBC, a senior U.S. administration official said that the document on raising tariffs on Canada has not been signed.
According to CNBC, a senior U.S. administration official said that the document on raising tariffs on Canada has not been signed.
Trump recently announced an additional 25% tariff on all Canadian steel and aluminum products, bringing the total tariff level to 50%. At the same time, he threatened to significantly increase tariffs on cars entering the United States on April 2 if Canada does not also lift other alarming long-term tariffs. In addition, he mentioned that Canada's national security...
Ontario, Canada: A 25% surcharge has been imposed on electricity exports to New York, Michigan and Minnesota in the United States. Any generator exporting electricity to the United States must add a 25% surcharge of $10 per megawatt hour.
The Premier of Ontario, Canada: If the United States escalates (tariff measures), I will not hesitate to completely cut off the power supply (to the United States).
The Government of Canada announced the launch of a trade impact program worth 5 billion Canadian dollars to help Canadian exporters access new markets in response to U.S. tariffs. New financing in Canadian dollars will be provided through the Agricultural Credit Program to help farmers address cash flow issues.
President Donald Trump has signed amendments to tariffs on Mexico and Canada, exempting products that comply with the USMCA from tariffs until April 2.