The Canadian dollar has fallen to its lowest level since May 2020 after Donald Trump threatened to impose a 25% tariff on all products from Canada and Mexico.
The Canadian dollar weakened to its lowest level since May 2020 due to threats from the incoming U.S. President, Donald Trump . Trump threatened to impose a 25% tariff on Canadian goods shipped to the U.S. once he takes office in January, adding more pressure to the loonie, which had been weakening since September against the U.S. dollar. The loonie dropped to 71.07 cents US in late-morning trading on Thursday, Jan. 9, 2014, after falling below 71 cents US earlier in the day.
BMO Capital Markets senior economist Robert Kavcic noted that the Canadian dollar was already under pressure from domestic economic factors and interest rate cuts by the Bank of Canada. Trump posted on Truth Social that he will maintain this tax until both Canada and Mexico stop illegal drug and people traffic
Canadian Dollar Donald Trump Economic Threats Trade Relations Currency Weakness
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canadian Dollar Reaches Lowest Point Since May 2020 Amid Trump's ThreatsThe Canadian dollar has reached its lowest point against the U.S. dollar since May 2020, owing to threats by Donald Trump to impose tariffs on Canadian goods once he takes office. The loonie, which had already been weakening due to domestic economic factors, further declined to 71.07 cents US in late morning trading.
Read more »
The loonie is trading at lows not seen in years. Here’s what it means for CanadiansThe Canadian dollar is trading against the U.S. dollar at levels not seen since 2020
Read more »
Loonie falls to lowest since 2020 after Trump threatens tariffs on Canadian goodsOTTAWA — The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January.
Read more »
Loonie falls to lowest since 2020 after Trump threatens tariffs on Canadian goodsThe Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January.
Read more »
Loonie falls to lowest since 2020 after Trump threatens tariffs on Canadian goodsOTTAWA — The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January.
Read more »
Loonie falls to lowest since 2020 after Trump threatens tariffs on Canadian goodsThe Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January.
Read more »