Carney, a former two-time central banker in Canada and the UK, said Trump’s actions will reverberate in Canada and across the world.

The Canadian dollar rose to a near four-month high against the greenback on Thursday as Canada avoided fresh tariffs on its goods in a widening trade war that has led to investors ditching the American currency.

In the wake of the U.S. tariffs on Canada's auto industry, Conservative Leader Pierre Poilievre is being accused of copying the NDP's idea for boosting domestic vehicle manufacturing.

Jeep-parent Stellantis is temporarily halting production at its auto assembly factories in Mexico and Canada, a day after the Trump administration’s new tariffs on vehicle imports went into effect. The European-based automaker,

Canada’s oil patch is entering the trade war with the US backed by the strongest pricing for its crude in four years, giving it a cushion against any potential declines and threatening high costs for American refiners and drivers.

The Canadian dollar edged lower against its U.S. counterpart on Wednesday as investors globally awaited the announcement of sweeping new U.S. tariffs that could escalate a trade war.

Canadian prime minister Mark Carney on Wednesday vowed to counter tariffs imposed by the Trump administration.

KEY TAKEAWAYS Shares of Diageo avoided the worst of Thursday's tariff-fueled selloff as its production of tequila and whiskey in Mexico and Canada were spared added tariffs.Diageo is benefiting from its production of alcoholic beverages in Mexico and Canada that are USMCA compliant and exempt from import tariffs into the U.