The display of U.S. president-elect Donald Trump's image at the New York Stock Exchange has raised alarms among Canadian financial experts, with the Canadian dollar nearing pandemic-era lows due to Trump's plans to impose tariffs on imports from Canada and Mexico. Experts advise on minimizing foreign currency conversion costs and warn against adjusting investment portfolios in response to such news.
The image of U.S. president-elect Donald Trump displayed on the floor of the New York Stock Exchange has sparked concerns among Canadian politicians and economists. Trump's intentions to impose tariffs on all imports from Canada and Mexico have set off alarm bells, leading to a drop in the Canadian dollar to near pandemic-era lows. Financial experts advise focusing on minimizing extra costs when converting to U.S. dollars, recommending payment cards that avoid foreign currency conversion fees.
However, experts like Benjamin Felix suggest that small investors should not attempt to adjust their portfolios in response to such news, as financial markets adapt quickly
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