By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- China, the world’s second largest economy, swung back at the United States on Friday as Beijing announced its retaliatory tariffs. China will impose a 34 per cent levy on all U.S. imports effective April 10, in addition to those duties already in place. That matched the same percentage the U.S. slapped on Chinese imports on Wednesday. As well, China said it has placed export controls on a number of medium and heavy rare earths, added 27 companies to a list of those subject to trade sanctions and export controls, and will pursue U.S. tariffs through the World Trade Organization.
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Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally. – Canadian…
- Canada will impose 25 per cent tariffs on all U.S. vehicle imports that are not compliant with the Canada-U.S.-Mexico Agreement, Prime Minister Mark Carney announced on Thursday. The new levies will be in additional those previously in place. Although Canada was largely exempt from U.S. President Donald Trump’s wide ranging reciprocal tariffs announced on Wednesday, there were still duties placed on semiconductors and pharmaceuticals and the U.S has taken issue with Canada’s supply management in some agricultural sectors.
- Statistics Canada reported on Friday that the country lost 33,000 jobs in March, marking the biggest decline since January 2022. That pushed up Canada’s unemployment to 6.7 per cent from 6.6 per cent in February. StatCan said 62,000 full-time jobs were lost in March, partially offset by an increase in part-time work.
- The U.S. Bureau of Labor Statistics said on Friday that 228,000 jobs were added that country’s economy in March, but the unemployment rate bumped up to 4.2 per cent from 4.1 per cent in February as more people are seeking work. March’s job growth surpassed analysts’ expectations of 130,000 additional jobs.
