This text was produced from an article by CTV News.
Here is the latest news related to the trade war between Canada and the United States:
9 a.m. | Owners of small “very worried” businesses
The term “minimum exemption” may not be familiar to all Canadians, but the American government’s decision to remove this price exemption for low-value parcels could have a significant impact on small businesses from all over the country.
This exemption excluded customs duties on sending goods to the United States of a value less than or equal to 800 US dollars, but a decree signed Wednesday by US President Donald Trump will delete this provision.
“I am very worried about the logistics and the costs it will involve,” said Tamara Bavdek, who founded his jewelry company 16 years ago This Ilkbased in Montreal.
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She works in her home workshop with retro lace to make unique parts, including earrings and necklaces, which she sells online, especially on Etsy. She ships her unique international works of art, but about a third of her activity is now carried out in the United States.
“The term” minimum exemption “was not part of my vocabulary before Trump established customs duties,” said Bavdek. “But I knew this provision. It was quite logical that shipments of an amount below a certain threshold are not subject to customs duties. ”
8h | Ford requires 40% customs duties
Ontario Prime Minister Doug Ford, whose province represents around 40 % of Canadian GDP and constitutes the country’s industrial heart, demanded that Ottawa impose customs duties of 50 % on American steel and aluminum imports.
“Canada should not be satisfied with an agreement that is not fair. Now is not the time to give in. We must remain firm, “he said in a message published on X.
7:47 am | Global declining markets after the taxation of new prices
American term contracts fell 0.9% after Mr. Trump announced customs duties up to 41% for imports from 68 countries and the European Union. He also said that customs duties on products from Canada would drop to 35 %from Friday.
The FTSE 100 yielded 0.7 % in London in the middle of the day, while the CAC 40 in Paris and the Dax in Frankfurt lost approximately 1.7 %. In New York, the long contract of the S&P 500 and that of the average Dow Jones of industrial values founded 0.9 %.
The Nikkei 225 finished down 0.7 % in Tokyo in the last hours. On the Chinese continent, Shanghai lost 0.4 % and Hong Kong overturned 1.1 %. Elsewhere in Asia and Oceania, Kospi collapsed by 3.8 % in Seoul, the S&P/ASX 200 index lost 0.9 % in Sydney and Sensex slipped by 0.4 % in Delhi.
On the New York Raw Material Stock Exchange, the price of the barrel of oil regressed 52 cents US at US $ 68.72.
On the currency market, the Canadian dollar was negotiating US 72.23 cents on Thursday, down from 72.41 cents US on Wednesday.
6:57 am | Countries affected by new customs tariffs denounce their taxation
The new customs duties up to 41% imposed by US President Donald Trump on American imports from dozens of countries aroused many reactions on Friday.
Among the countries that have negotiated an agreement with Washington, there was a sigh of relief, but, among others, we expressed disappointment and frustration in the face of the deadline set for August 1 by Mr. Trump.
6:49 am | Legault’s replica
The Prime Minister of Quebec, François Legault, conceded that customs duties “are damaging for our workers and our companies”, adding that they “also harm American citizens who need our products and our resources”.
“The latest events highlight all the importance that we must devote to diversify our markets and increase our economic autonomy. We will support our workers and companies, ”he said in a message published on social networks.
Legault said Quebec remains in contact with the federal government and the other provinces for the rest of things.
He believes that it is necessary to continue discussions with the American administration, but affirms that, in all cases, his government will “defend the interests of Quebecers”.
5h51 | Analysis: 35%customs tariffs: What does that mean for Canada?
“You have to stop being alarmist. […] Our free exchange agreement remains in place, ”explains Geneviève Dufour on the waves of Noovo Info 22.
00:22 | “Canadians will be our best customers,” says Carney
In a statement published on the midnight on Friday, Canada Prime Minister Mark Carney argued that the federal government is “disappointed with this measure”.
However, he tried to put the real impact of these new customs rights into perspective, recalling that, “thanks to ACEUM, the average tariff rate applied by the United States to Canadian products remains one of the lowest among all its business partners”.
Despite this observation, the Prime Minister has recognized that certain sectors of the Canadian economy, including timber, steel, aluminum and cars, are “strongly affected by American customs duties”.