Canada hoped Trump would become a good friend, but instead, Trump decided this time to “friend” them with a tariff trend.
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The Canadian dollar has bounced back from a 22-year low, driven by hopes that a pause in tariffs could be on the horizon.
The Canadian dollar rebounded from a 22-year low against the U.S. dollar on Monday as investors weighed the possibility of Canada getting a break from U.S. tariffs. The loonie was down 0.5% at 1.4590 to the U.S. dollar, or 68.54 U.S. cents, after earlier hitting its weakest point since April 2003 at 1.4793.
The shift came after U.S. President Donald Trump announced a one-month pause on new tariffs for Mexico, following the country’s agreement to send 10,000 National Guard troops to its northern border to combat the flow of illegal drugs.
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