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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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Shoppers Kept Spending This Holiday Season

 

  • Holiday Spending: U.S. retail sales increased by 3.1% from Nov. 1 through Dec. 24, with a notable rise in last-minute shopping before Christmas.
  • Sales Breakdown: Online sales grew by 6.3%, while in-store sales saw a 2.2% increase. However, electronics and jewelry sales declined.
  • Economic Impact: Strong consumer spending, particularly on travel and dining, supported the U.S. economy in 2023 despite high interest rates.
  • Retailer Outlook: Retailers reported mixed results for the holiday season, with some experiencing steady sales and others noting a pullback in consumer spending.
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