# Loonie falls to lowest level since 2020 after Trump issues tariff threat | CBC News

> The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened tariffs on Canadian goods shipped to the US once he takes office in January. It traded at 71.01 US cents in early afternoon trading after dipping below 71 cents earlier. Analysts said the loonie was already under pressure from a softer domestic economy and Bank of Canada rate cuts.

- Date: 2024-11-26 · published 2024-11-26T12:00:00.000Z
- Category: trade · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/27652-loonie-falls-to-lowest-level-since-2020-after-trump-issues-tariff-threat-cbc
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The combined effect of tariff risk and a weaker currency makes Canadian exports cheaper in US dollars but raises the cost of imported feed and inputs. The tariff threat adds downside risk to Canadian trade volumes into the US.

## Read by commodity

- USDCAD: bullish ▲

## Sources

- cbc.ca: https://www.cbc.ca/news/business/loonie-falls-trump-tariffs-1.7393720

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.