# Canadian Dollar: NAFTA on Life-support after Trudeau says "We're Not Going to Do That" to the Dairy Sector and Trump Weighs In

> The Canadian dollar fell on Friday after Prime Minister Trudeau said Canada would not end tariffs on U.S. dairy products, a key U.S. demand in NAFTA talks. President Trump responded angrily and threatened to terminate the agreement. Canada's Foreign Minister said talks were not yet close to a deal.

- Date: 2018-08-31 · published 2018-08-31T12:00:00.000Z
- Category: trade · region Canada · magnitude high
- Page: https://feedsoft.ai/events/63769-canadian-dollar-nafta-on-life-support-after-trudeau-says-we-re-not-going-to-do
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

A breakdown in NAFTA talks raises the risk of tariffs on North American trade in grains, meal and dairy, and weakens the loonie, which raises the cost of U.S. dollar-priced feed imports into Canada.

## Read by commodity

- MILK: bearish ▼
- USDCAD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2017-04-26 | [What’s weighing on the Canadian dollar: tariffs on softwood lumber and the Fed raising rates - Financial Post](https://feedsoft.ai/events/71742-what-s-weighing-on-the-canadian-dollar-tariffs-on-softwood-lumber-and-the-fed.md) | -0.1% | +2.6% |
| MILK | 2017-04-25 | [Trump Admin Slaps Tariffs on Canada Lumber After Dairy Spat \| Fortune](https://feedsoft.ai/events/71748-trump-admin-slaps-tariffs-on-canada-lumber-after-dairy-spat-fortune.md) | -0.1% | +2.6% |
| MILK | 2025-03-28 | [Export Challenges and Cheese Surplus Weigh on Dairy Market \| Red River Farm Network](https://feedsoft.ai/events/25737-export-challenges-and-cheese-surplus-weigh-on-dairy-market-red-river-farm.md) | -9.0% | -6.5% |
| MILK | 2017-04-25 | [Canadian dollar stumbles as US plans to slap tariffs on softwood lumber](https://feedsoft.ai/events/71743-canadian-dollar-stumbles-as-us-plans-to-slap-tariffs-on-softwood-lumber.md) | -0.1% | +2.6% |
| MILK | 2025-04-04 | [Trump's Liberation Day is adding to already turbulent trade discussions between the US and other nations](https://feedsoft.ai/events/5648-trump-s-liberation-day-is-adding-to-already-turbulent-trade-discussions-between.md) | +1.5% | +8.9% |

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/cad/9815-canadian-dollar-to-remain-on-the-defensive-as-pivotal-nafta-decision-looms-and-analysts-eye-the-boc

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