๐ Trade talks fail, CAD drops amid US tariffs
The Canadian dollar slid on Monday morning after trade negotiations between Ottawa and Washington collapsed. The U.S. had previously imposed 50% tariffs on about $20 billion of Canadian imports, affecting dairy and wine. Canadian PM Mark Carney announced retaliatory tariffs starting September 8, targeting steel and electronics. This breakdown raises concerns about further escalation in the trade conflict. Markets are currently mixed while the US dollar continues to strengthen against other currencies.