Prime Minister Mark Carney says countermeasures designed for “maximum impact” will focus on vehicles that don’t comply with the USMCA.
Carney said Canada will respond to President Donald Trump’s tariffs with 25 percent counter measures on vehicles imported from the United States that do not comply with the United States-Mexico-Canada Agreement, as well as on the non-Canadian content of USMCA-compliant vehicles.
Carney said Trump’s global reciprocal tariffs have ended 80 years of American global economic leadership that started after World War II.
“This is a tragedy. ...
He emphasized that Canada remains a U.S. ally — “our ally in security and defense partnerships,” he added.
“Part of what our relationship has been based on, though, has been a degree of integration between our economies, our trade becoming closer and closer together. That is over.”
NEW YORK (AP) — Wall Street shuddered, and a level of shock unseen since COVID’s outbreak tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.
U.S. markets slid Thursday in their steepest declines since 2020, as investors grappled with the threat that President Trump’s new tariff plan will trigger global retaliation and hurt the economy.
Major stock indexes dropped as much as 6%. Stocks lost roughly $3.1 trillion in market value Thursday, their largest one-day decline since March 2020.
The Dow industrials dropped 1679 points, or 4%. The tech-heavy Nasdaq, which powered the market higher for years, was down 6%, pulled lower by big declines in Nvidia, Apple and Amazon.com. The S&P 500, which fell 4.8%, and the other benchmarks suffered their sharpest declines since the early days of the Covid-19 pandemic.
The dollar meanwhile tumbled, with the WSJ Dollar Index suffering its sharpest decline since 2023. The 1.3% fall brought the greenback to its lowest level since October, a sign of unease over the growth outlook and fears that the flow of funds into the country will be sharply curtailed. Inflation expectations rose.
Laura Loomer Fires 6 NSC Officials
Like Noel Skum, Loomer is (among other things) not part of the administration.
