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Trump reaffirmed plans to impose 25% tariffs on imports from Canada and Mexico on February 1 and cited immigration, fentanyl and trade deficits as reasons. The Canadian dollar fell as much as 1.2% to 68.5 U.S. cents, and gold briefly topped US$2,800.
Analysts warned tariffs could drive a recession and prompt deeper Bank of Canada rate cuts.
Broad tariffs on Canada and Mexico threaten trade flows of grains, oilseeds and meals, and could pressure feed demand and export prices. A weaker loonie would further shift Canadian canola and oat supplies toward global markets.
financialpost.comPamela HeavenJan 31, 2025Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
After 45 past bullish trade events, US Dollar (Broad) moved a median -0.0% over 5 sessions (42% higher; middle half -0.3% to +0.4%), and -0.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
