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Trump's Tariff Shake-Up: Global Trade Faces New Challenges

On April 2, 2025, U.S. President Donald Trump announced sweeping 10% tariffs on imports from all trading partners, marking a significant escalation in global trade tensions. These tariffs, described as "baseline," aim to address what Trump perceives as unfair trade practices and chronic trade deficits. While the announcement has sent ripples across international markets, the specific impact on Canada remains uncertain. Canada, a close trading partner of the U.S., has previously faced tariffs on steel, aluminum, and energy imports under Trump's administration. The new measures could further strain bilateral relations and affect key Canadian industries. Prime Minister Mark Carney is reportedly preparing Canada's response, as the trade war becomes a central issue in the upcoming federal election. Trump's move has sparked debates among economists and policymakers, with critics warning of potential economic fallout and supporters praising the tariffs as a step toward ...
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COP28 reaches landmark agreement to transition from fossil fuels

 



In a historic breakthrough, the COP28 climate summit in Dubai concluded on Wednesday with a deal that commits nearly 200 countries to start reducing their reliance on fossil fuels and shift to renewable energy sources.

The agreement, which was reached after two weeks of intense negotiations and a day of overtime, marks the first time that the world has explicitly recognized the need to transition away from oil, gas and coal, the main drivers of global warming.

The deal also sets ambitious targets for increasing renewable energy capacity, cutting coal use, and deploying technologies that can capture and store carbon emissions. It aims to achieve net zero emissions by 2050, in line with the latest scientific findings.

The deal was hailed as a historic moment by many countries, especially the small island states that are most vulnerable to the impacts of climate change. They had pushed hard for strong language on phasing out fossil fuels, despite facing resistance from the OPEC group of oil producers, led by Saudi Arabia.

The COP28 president, Sultan Al Jaber, who is also the UAE minister of industry and advanced technology, said the deal was a “clear signal” to investors and policy-makers that the world is united in its desire to break with fossil fuels and embrace a clean-energy future.

However, he also stressed that the success of the agreement would depend on its implementation, and urged countries to take concrete actions to fulfill their commitments.

The deal was welcomed by environmental groups, who praised it as a significant step forward in the global fight against climate change. However, they also warned that more work is needed to ensure that the transition is fair and equitable, and that the most vulnerable communities are supported and protected.

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