Trump, Tariffs and free trade
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Overview
Reuters |
A little-known insurance product is gaining traction in Canada as exporters seek to guard against losses and bankruptcies of their suppliers and customers due to U.S. President Donald Trump's tariffs...
SFGate |
Even after Trump's U-turn on Wednesday that paused steep new tariffs on about 60 nations for 90 days, average U.S. duties remain much higher than a couple of months ago.
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President Donald Trump's annexation threats and tariffs are helping drive renewed interest in a 1970s-era Canadian comic book character, 'Captain Canuck.' Richard Comely, the artist who co-created the superhero, says Canadians are looking up to the government agent with superhuman strength as a symbol of the country's 'independence.'
While Canadians' travel to the U.S. declined for a third straight month based on returns across the border, Statistics Canada data shows there's an increase in trips elsewhere.
Palm Springs is bracing for an economic hit. Canadian snowbirds are canceling vacations and selling property because of Trump.
In a dramatic move Wednesday, Trump authorized a 90-day pause in the higher tariffs for most countries he announced last week while maintaining a 10% universal tariff.
Crown corporations and government departments have been directed to, where viable, cancel American contracts, subscriptions, travel plans and membership in trade organizations.
Trump's tariffs require companies importing products from Canada to pay a 25 per cent fee to U.S. Customs and Border Protection, which then goes to the General Fund of the United States. Once importing companies pay tariff, they will likely adjust their retail prices to recoup the funds, making Canadian products more expensive for Americans.
The Canadian dollar on Wednesday rose above 71 cents U.S. for the first time since early December, while its American counterpart is being severely weakened by the uncertainty and chaos that Donald Trump’s trade war has unleashed.
The Canadian dollar strengthened to a four-month high against the greenback on Thursday as investors reduced their exposure to U.S. financial markets, anticipating that the global trade war could upend a period of outperformance for the American economy.