US Dollar Retreats Amid US-Iran Ceasefire Developm
The US dollar is set to decline this week as positive news on US-Iran ceasefire eases safe-haven dem
U.S. President Donald Trump spoke positively about Canada on Sunday but remained vague on restarting trade talks. Heading to a gala in Washington, he described a recent meeting with Canadian Prime Minister Mark Carney and Mexican President Claudia Sheinbaum as “very good” and “productive.”
Carney’s office called the discussions “constructive.” Yet when asked about resuming trade negotiations with Canada—paused after Ontario ran anti-tariff ads—Trump offered only a non-committal “we’ll work it out.”
Trump acknowledged Canada’s reputation as tough traders but highlighted his personal rapport with Prime Minister Carney. Lightening the mood, he joked about Canada’s prowess in ice hockey.
Earlier this year, Trump imposed tariffs on Canada and Mexico covering steel, aluminum, automobiles, lumber, and copper. Canada faced duties up to 35%, while Mexico’s were 25%. The Canada-U.S.-Mexico Agreement (CUSMA) currently shields both nations from broader tariffs, but it will undergo a mandatory review next year. If the countries cannot agree on renewal terms, the deal could expire in 2036.
Both Canada and Mexico are seeking ways to reduce tariffs and maintain duty-free trade, amid uncertainty over U.S. trade policies. While Trump’s comments signal goodwill, the future of North American trade remains uncertain, with negotiations and tariffs shaping the economic landscape.
The US dollar is set to decline this week as positive news on US-Iran ceasefire eases safe-haven dem
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