Canada was one of the 'winners' yesterday but that ignores auto tariffs, steel, aluminum and products not covered under USMCA. So while the news could have been worse, there is still plenty of pain to come.
With that in mind, Carney isn't in the mood to back down:
The bolded part is an interesting strategy. It's a threat to hit companies who move factories out of Canada and into the US.
He also said that 'previously announced' retaliatory tariffs will remain in effect. Now that's a bit confusing and I'm going to look for clarity because there are $30 billion in tariffs already implemented or the $155 billion that was scheduled for March 25 but were paused until April 2. I'm guessing those are still paused but it's hard to tell right now.
This article was written by Adam Button at www.forexlive.com. Read More Details
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