TSX Futures Rise on Hopes of Easing US-Canada Trade Tensions
Futures tracking Canadian stocks rose on Wednesday as Democrats were mostly certain to regain control of both chambers of Congress in the US, raising hopes of easing trade tensions between the two countries. A Democratic majority could constrain some of President Trump’s trade policy decisions. The trade dispute began in February 2025, when Trump signed orders imposing broad tariffs on Canadian goods. The measures took effect in March, alongside Canada’s retaliatory tariffs. Trump later exempted USMCA-compliant goods but imposed additional tariffs on steel, aluminum and automotive imports, including those from Canada. Meanwhile, oil prices edged lower, offering some relief to credit-sensitive sectors pressured by inflation concerns and the risk of higher interest rates. Gold prices climbed, lending support to mining shares.
Futures tracking Canadian stocks rose on Wednesday as Democrats were mostly certain to regain control of both chambers of Congress in the US, raising hopes of easing trade tensions between the two countries. A Democratic majority could constrain some of President Trump’s trade policy decisions. The trade dispute began in February 2025, when Trump signed orders imposing broad tariffs on Canadian goods. The measures took effect in March, alongside Canada’s retaliatory tariffs.
Trump later exempted USMCA-compliant goods but imposed additional tariffs on steel, aluminum and automotive imports, including those from Canada. Meanwhile, oil prices edged lower, offering some relief to credit-sensitive sectors pressured by inflation concerns and the risk of higher interest rates. Gold prices climbed, lending support to mining shares.