Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
– In a surprising reversal, United States President Donald Trump announced on Wednesday he was pausing reciprocal tariffs on nearly every country for 90 days. At the same time, Trump also said he was raising levies on Chinese goods to 125 per cent. The news was a godsend to the markets, which sustained major losses under the reciprocal tariffs since they were unveiled by the Trump administration last week. Earlier in the day, China raised its surcharges on U.S. goods to 84 per cent.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– The European Union said on Thursday it will pause its countermeasures against U.S. tariffs for 90 days after the Trump administration announced it will lower its tariffs on imported goods. The EU was also set to impose extra tariffs on U.S. imports including corn, wheat, motorcycles, poultry, fruit and clothing. The first round of countermeasures was to be implemented on April 15 on C$32.7 billion worth of U.S. goods.
– The Chicago Board of Trade declared a force majeure on Wednesday due to high water levels and flooding along the Ohio River. Shipping stations are unable to load wheat onto barges due to the conditions. A force majeure excuses both parties of a contract from liability if the conditions stated within the contract are not met.
