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Market Turmoil: S&P 500 Enters Correction Amid Escalating Trade War

                                                                 The stock market faced a sharp downturn on Thursday, with the S&P 500 officially entering correction territory. The index fell 1.4%, marking a 10% decline from its recent high. The Dow Jones Industrial Average dropped 1.3%, while the tech-heavy Nasdaq plummeted nearly 2%. This market turbulence comes as trade tensions escalate. The European Union's retaliatory tariffs on U.S. goods, including a 50% tax on American whiskey, prompted the U.S. administration to threaten a 200% tariff on European wines and spirits. These developments have left investors on edge, fearing the economic repercussions of a prolonged trade war. Adding to the uncertainty, debates over a stop-gap spending bill to prevent a government shutdown have further ...

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Canadian Premiers Rally, Declaring Economic War in Response to U.S. Tariffs

n a rapid and resolute response to U.S. President Donald Trump’s newly imposed tariffs, Canadian premiers across the country have united in what many are calling a declaration of economic war. Leaders from provinces such as Ontario, British Columbia, and Nova Scotia have warned that these tariffs threaten to upend decades of close trade ties between Canada and the United States.

Ontario Premier Doug Ford was among the most vocal, stating that the tariffs would not only damage U.S. industries but also risk American jobs by disrupting key manufacturing and supply chains. “Canada now has no choice but to hit back and hit back hard,” Ford declared, promising retaliatory measures that target a broad range of American goods, including consumer products and even American-made alcohol.

British Columbia’s Premier David Eby added that the tariffs constitute an “economic betrayal” of a trusted ally. In a swift response, his government has already ordered state-run liquor stores to remove American products from their shelves, urging residents to opt for Canadian alternatives. Similar countermeasures are underway in other provinces, where officials have pledged to impose counter-tariffs on billions of dollars’ worth of U.S. imports.

Canadian Prime Minister Justin Trudeau has affirmed that these unilateral U.S. actions violate long-standing trade agreements and undermine the economic stability of both nations. Trudeau warned that such tariffs would hurt American consumers too, by raising the prices of everyday goods from food and energy to household appliances.

As tensions mount, the coordinated response from Canada’s provinces highlights a determined, united front. The premiers have made it clear: the U.S. tariffs are seen not merely as a trade dispute but as an existential challenge to Canada’s economic sovereignty—a challenge that they intend to meet head-on.


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