By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- United States President Donald Trump stated Monday evening that he could impose 25 per cent tariffs on all goods imported from Canada and Mexico as of Feb. 1. Trump’s comment came after top officials with his administration suggested earlier yesterday that the new president would hold off on tariffs as the matter would be studied by federal agencies. Canadian Finance Minister Dominic LeBlanc said the federal government is prepared for Trump’s tariffs, including a range of retaliatory levies.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- Statistics Canada reported on Tuesday that the consumer price index slipped to an annualized rate of 1.8 per cent in December, largely due to the federal government’s temporary break on the goods and services tax. StatCan said inflation in November was 1.9 per cent and without the GST break last month it would have jumped to 2.3 per cent.
- On Trump’s first day back in the White House on Monday he signed a number of executive orders, including pardons for 1,500 Capitol Hill rioters, providing 75 days for buyers to come forward to acquire TikTok in the U.S., the U.S. leaving the World Health Organization, and initiating a mass deportation of migrants. It’s expected Trump will sign another flurry of executive orders on Tuesday.
- Workers in the United Kingdom saw their pay increase 3.4 per cent between September and November compared to the same period in 2023, the country’s Office of National Statistics reported on Tuesday. Despite the higher wages, the Bank of England is still expected to cut its key interest rates by 25 basis points at 4.5 per cent next month.
