Home Sales in Canada Decline as Trade War With the US Escalates
Momentum in Canadaโs housing market stalled in August as trade talks with the US broke down and the countries levied new tariffs on each otherโs goods.
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Momentum in Canadaโs housing market stalled in August as trade talks with the US broke down and the countries levied new tariffs on each otherโs goods.
Canada's retaliatory tariffs of up to 50 percent on approximately $19.8 billion worth of US goods came into effect this Tuesday, further escalating the trade war between the two neighbours. At the same time, US President Donald Trump is threatening to ban sales of all Bombardier aircraft in the US, in spite of the Canadian company's deep web of US suppliers. Also in this edition: Iran raises the price of gasoline and French startup Mistral AI is now valued at โฌ21 billion.
Canada's counter-tariffs onย billions of dollars in US products took effect Tuesday, as a trade war between the two countries heated up.ย Ottawa's pushback comes weeks after US President Donald Trump imposed 50-percent tariffs on a similar value of Canadian products, over what Washington deemed as "discriminatory treatment" against US alcohol, automobile and dairy industries.
Canada is poised to impose tariffs of 15 per cent to 50 per cent on hundreds of products from the US on Tuesday, as Prime Minister Mark Carney bets that standing up to US President Donald Trump will eventually help Ottawaโs negotiating position with its biggest trading partner. Barring a last-minute reprieve, Carneyโs government will increase the import tax on many US steel items to 50 per cent from 25 per cent and apply tariffs to a range of consumer items โ motorcycles, cosmetics, cheese and...
The US may be the bigger trading partner, but Canada shouldn't be counted out quite yet in the escalating trade fight.