TSX drops as Canada retaliatory tariffs on US goods take effect
The S&P/TSX Composite Index fell more than 0.5% to trade below 36,500 after Canada’s retaliatory tariffs on US goods took effect, covering $20 billion with duties of 15% to 50% on items including steel and electronics.
5% to trade below 36500 on Tuesday as Canada’s retaliatory tariffs on US goods took effect. The counter-tariffs cover 20 billion of US goods, with duties ranging from 15% to 50% on products including steel, furniture, clothing and electronics. The US tariffs implemented last month targeted sectors including wine, furniture, dairy products, cement, clothing, fishing rods and hockey equipment, covering 20 billion, or 5%, of Canadian exports to the US. US President Trump said on Monday that Bombardier (-3%) would not be allowed to sell its planes in the US unless it started manufacturing in the country.
5%. Crude prices climbed after Saudi Arabia reported attacks that halted operations at several energy facilities, with fears of energy disruptions and energy-driven inflation lifting rate hike expectations in Canada and the US and weighing on major banks.