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Canada's Liberal Party has secured a fourth consecutive term, with Mark Carney elected as Prime Minister. As of now, Liberal candidates have won 150 of 343 seats, leaving the majority outcome uncertain. Carney's experience and stance on global issues, particularly regarding Trump, have bolstered his appeal, although market reactions remain muted amid ongoing tariff uncertainties.
The Canadian Liberals, led by Prime Minister-designate Mark Carney, have narrowly won the recent election with 155 seats, just ahead of the Conservatives' 150. Both parties fell short of the 172 seats needed for a majority, leading to a slight weakness in the Canadian Dollar as the Liberals will require support from smaller parties to advance their agenda. Key challenges ahead include negotiating a new trade deal with the U.S. and addressing productivity issues in the Canadian economy.
Canada holds a general election today, with the Liberals, led by PM Mark Carney, leading in polls by 3.5 points and an 80% chance of winning. A majority Liberal government is expected to have a limited impact on the Canadian dollar, while a hung parliament may pressure the loonie, and a Conservative win could boost it due to favorable trade negotiations with the US.
UBS has adopted a more positive outlook on the Canadian dollar, noting that easing U.S. tariff threats have provided relief, despite ongoing macroeconomic challenges. The firm projects a gradual decline in the USDCAD pair, targeting 1.36 by March 2026, while remaining cautious about long-term risks from industry-specific tariffs and domestic economic pressures. Political dynamics, particularly with the upcoming Canadian federal elections, could further influence the CAD's performance.
Global markets were shaken as the US confirmed a staggering 145% tariff on Chinese imports, escalating the trade war despite initial optimism from President Trump's softer stance on other international tariffs. While Asian and European markets initially surged, US indices plummeted, reflecting investor concerns over the deepening conflict with China, which retaliated with 84% levies on US goods. International leaders expressed cautious optimism for negotiations, but tensions remained high, impacting commodities like oil, which saw significant price drops amid the uncertainty.
Global markets plunged as the US confirmed a staggering 145% tariff on Chinese imports, escalating the trade war despite initial optimism from President Trump's softer stance on other international tariffs. While Asian and European markets initially surged, US indices fell sharply, with the Dow dropping 1,746 points. Amidst the turmoil, international leaders expressed cautious optimism for negotiations, while oil prices also declined in response to the heightened tensions.
Global markets reacted sharply to escalating US-China trade tensions, with the US imposing a cumulative 145% tariff on Chinese imports, while China retaliated with 84% levies on US goods. Initially buoyed by President Trump's softer stance on other trade partners, US markets plummeted, with the S&P 500 down 5% and the Dow Jones losing 1,746 points. Oil prices also fell as investors reassessed the implications of the ongoing trade conflict.
The United States will impose a 104% tariff on Chinese imports starting April 9, marking a significant shift in trade policy that could raise the average U.S. tariff rate to its highest since 1909. This move has already led to a $5.8 trillion loss in stock value and sparked retaliatory tariffs from Canada and the European Union, raising concerns of a broader trade conflict. Consumers are expected to face price increases, disproportionately affecting lower-income households.
President Trump's new tariffs, including a 24% levy on Japan and a 25% on South Korea, could lead to significant price increases for consumers and risk igniting inflation and recession. The measures have sparked global market turmoil and prompted threats of retaliation from various countries, raising concerns over the future of international trade. Analysts warn that these tariffs may alienate allies and disrupt supply chains, while the administration claims they will bolster domestic manufacturing and create jobs.
President Trump is set to announce a series of tariffs, dubbed "Liberation Day," aimed at reducing foreign imports and boosting American manufacturing. While he believes these measures will revitalize the U.S. economy, economists warn they could lead to higher consumer prices and sluggish growth, with potential retaliatory actions from other nations. Global leaders express concern that such tariffs could disrupt trade and harm job markets, emphasizing the risks of escalating trade tensions.
Mark Carney
People
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