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Canada to Announce Response to U.S. Steel and Aluminum Tariffs

The Canadian government is set to unveil its response to the United States' recent imposition of 25% tariffs on steel and aluminum imports. Finance Minister Dominic LeBlanc, Foreign Affairs Minister Mélanie Joly, and Industry Minister François-Philippe Champagne will address the nation in a press conference on Parliament Hill this morning. The tariffs, which came into effect at midnight, mark a significant escalation in trade tensions between the two countries. The U.S. administration, under President Donald Trump, has justified the move as part of its broader strategy to realign global trade. In retaliation, Canada has already imposed counter-tariffs on $30 billion worth of U.S. goods and is expected to announce further measures to protect Canadian industries and workers. The response is anticipated to focus on minimizing the impact on Canadian businesses while ensuring a strong message is sent to the U.S. about the importance of fair trade practices. The announcement comes amid o...
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Market Surge Amid Trump's Remarks and Earnings Reports

                                          

The S&P 500 achieved a record closing high on Thursday, rising by 0.5% to 6,118.71, marking its first all-time closing high of 2025. This surge was driven by President Donald Trump's comments at the World Economic Forum in Davos, where he called for lower oil prices and interest rates. Trump's remarks have sparked optimism among investors, who are also closely watching corporate earnings reports.

Meanwhile, the Toronto Stock Exchange's S&P/TSX composite index continued its upward trend, rising for the eighth consecutive session. The index climbed 0.24% to reach 25,371.53, its highest level since December 13, 2024. The energy and consumer staples sectors were the top performers, while metal mining shares saw a decline.

Investors remain focused on upcoming earnings reports from major companies, which could provide further insights into market trends and economic health.



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