Donald Trump announced Thursday the U.S. will charge a 35 per cent tariff on Canadian imports starting Aug. 1. In an open letter to Mark Carney that was posted on Truth Social, Trump said the U.S. would increase the percentage if Canada responded.
As the world’s petroleum producers increase the global supply of oil, one market watcher says resilient demand for crude could push prices higher than traders expect in the second half of this year.
Critics of U.S. President Donald Trump’s tariff scheme claim that it will be inflationary for American businesses and consumers, and one expert says that while there hasn’t yet been an inflation spike attributable to tariffs, there likely will be one at some point.
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