By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- In an about-face over the weekend, United States President Donald Trump threatened to slap 100 per cent tariffs on most imports of Canadian good. Trump pointed to the recent Canada-China trade deal which is to slash levies between the two countries. Initially, Trump boasted the agreement was “a good thing” for Canada, but in a political flip-flop on Sunday he said, “China will eat Canada alive.” Canadian Prime Minister Mark Carney responded on Sunday, stating that Canada has “no intention” of negotiating a free trade deal with China.
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- The Canadian Parliament is set to resume sitting on Monday, with the Liberal government promising to top up GST rebates for consumers paying more at the grocery stores. With Prime Minister Carney’s government a few seats short of a majority in the House of Commons, the Liberals called for a “spirit of co-operation.” Opposition leader Pierre Poilievre said his Conservatives could help to fast track legislation on crime and trade.
- The Bank of Canada is scheduled to make its first interest rate announcement of 2026 on Wednesday at 7:45 a.m. CST. Reports said most analysts predicted the BoC to freeze its key rates, following the same move in December. Added to that several of them suggested the central bank could maintain that rate freeze throughout the year.
- The powerful weekend storm that hit most of the United States is said to be responsible for at least 17 deaths, reports said on Monday. Several of the deaths were said to be caused by removing snow. Also the winter storm cut power to hundreds of thousands of people and forced the cancellation of tens of thousands of flights.
