The trade war between North America's two biggest economies is just getting started.
Ten days after Trump unexpectedly imposed duties on Canadian softwood exports drawing loud protests from domestic lumber companies, the Canadian government has threatened to retaliate with multiple trade actions against the US, demanding a long-term deal without which several American industries could soon be targeted.
Submitted by Jeff Thomas via InternationalMan.com,
As a West Indian, I’ve lived through quite a few hurricanes in my time. My level of responsibility in each varied quite a bit. I was eight years old in my first hurricane and I thought it was great fun, as it was so exciting during the hurricane and, afterward, the landscape had changed so much that I had lots of new places to play.
Before scrolling down, take a guess at the three best and worst performing commodities of 2016 and 2017!
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2016 was a good year for commodities. The Bloomberg Commodity Index, which is a diversified benchmark for commodity investments, gained 10%.
After last night's announcement of ~20% tariffs on softwood lumber imported from Canada, Prime Minister Justin Trudeau lashed out at the Trump administration saying the U.S. could suffer from a "thickening" border as trade tensions between the two countries escalated, sending the Canadian currency to a 14 month low.
After yesterday's violent gap up in stocks across the globe in response to the "expected" outcome from the French election, today the risk on sentiment has continued if to a lesser extent, with stocks in Europe, Asia all rising while S&P futures point to a higher open. Yen, gold decline, while the euro traded as high as 1.09 this morning before fading some gains; oil is up modestly.