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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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US stock futures paused on Friday, catching their breath after the record-breaking rally fueled by AI chipmaker Nvidia’s blowout earnings. Investors are now contemplating what lies ahead.

Market Overview

  • S&P 500 ( ^GSPC) and Dow Jones Industrial Average ( ^DJI) futures hovered around the flatline, having closed at all-time highs on Thursday.
  • Nasdaq 100 ( ^NDX) futures remained subdued after the tech-heavy index surged 3% to achieve its own record.
  • The global breakout frenzy added a staggering $277 billion to Nvidia’s market value, marking the largest single-day gain in Wall Street history.

Nvidia’s Meteoric Rise

  • Nvidia’s shares continued their meteoric ascent in Friday’s premarket, rising approximately 2% and on track to surpass a $2 trillion valuation.
  • As the AI euphoria begins to wane, market attention is shifting back to the possibility of a US interest-rate cut.
  • Federal Reserve officials have hinted at rate cuts, although opinions differ on the timing of this shift.

Earnings Season Highlights

  • A robust fourth-quarter earnings season is winding down, with over one-third of reports surpassing estimates.
  • Fintech company Square (SQ) provided an upbeat earnings forecast, propelling its shares higher.
  • Used-car seller Carvana (CVNA) reported its first annual profit, boosting its stock price.

In summary, while the stock market takes a pause, investors remain vigilant for further developments. The AI-driven rally has left its mark, but uncertainties persist. As we navigate these dynamics, keep an eye on the Fed’s next moves and corporate earnings surprises.


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