Is the Canadian Dollar’s Collapse the Canary in the Coal Mine for North American Markets?
US President Donald Trump took shots at Canada once again on Thursday, warning that new tariffs will hit Canadian goods if no trade deal is finalized by August 1. Trump’s comments came after Canada backed Palestinian statehood, a move that he said “makes a deal very hard.” The proposed tariffs would include a 35% tax on Canadian exports not covered under the USMCA, with even steeper rates expected on key goods such as copper and pharmaceuticals. While trade talks between the two countries are ongoing, Canadian Prime Minister Mark Carney admitted that progress is slow and a comprehensive agreement before the deadline appears unlikely.
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