Trump ultimately prevailed in the election and has mused in the past about seeking to exert more influence over the central bank, which traditionally maintains independence from the White House
US President Donald Trump expects India to lower tariffs on US goods, says same tariffs will be imposed on India from April 2 if no reduction occurs
Former central banker Mark Carney was sworn in as Canada's new prime minister on Friday, and will now try to steer his country through a trade war brought by US President Donald Trump, a threat of annexation and an expected federal election. Carney, 59, replaces Prime Minister Justin Trudeau, who announced his resignation in January but remained in power until the Liberal Party elected a new leader. Carney is widely expected to trigger a general election in the coming days or weeks. The governing Liberal Party had appeared poised for a historic election defeat this year until Trump declared economic war and threatened to annex the entire country as a 51st state. Now the party and its new leader could come out on top. Carney has said he's ready to meet with Trump if he shows respect for Canadian sovereignty? and is willing to take a common approach, a much more comprehensive approach for trade.? Trump put 25 per cent tariffs on Canada's steel and aluminum and is threatening sweeping
Trump's plan to impose tariffs on steel and aluminum imports is unlikely to arrest decades of declining market share and stagnating production
Mark Carney's landslide win in the Liberal leadership race paves the way for him to be sworn in as Canada's Prime Minister, replacing Justin Trudeau
However, the commerce secretary did acknowledge that the tariffs would lead to higher prices for US consumers on foreign-made goods
The impact of a potential trade war with the United States and massive increases in European defence spending and government borrowing loom over a policy meeting Thursday at the European Central Bank, which is expected to cut interest rates by a quarter percentage point. Analysts are widely expecting a cut in the European Central Bank's (ECB) benchmark deposit rate to 2.50 per cent, a step to lower borrowing costs for consumers and businesses in an economy that's struggling to get out of first gear. The bank's monetary policy statement and post-meeting news conference by President Christine Lagarde will be scrutinised for hints about how far the bank will cut rates amid concerns about weak growth. The bank has already reduced the benchmark rate by 1.25 percentage points since June. Meanwhile new concerns that would massively reshuffle the economic picture are likely to intrude: the potential impact of new tariffs on European imports from US President Trump, which could slow growth,
Sensex Today | Stock Market LIVE Updates: In the broader markets, the Nifty MidCap index was holding gains, up 0.85 per cent, and the Nifty SmallCap index edged 1.19 per cent higher
Canada then announced immediate retaliatory measures on tens of billions of dollars worth of goods, prompting Trump to threaten even more tariffs
China has reduced its dependence on US farm imports, strengthening its trade war strategy through supply diversification, local production boosts, and food security policies
According to Ambreesh Baliga, an independent analyst, "It's essentially a pullback rally following a prolonged decline in the Indian market."
The uncertainty unleashed by Trump tariffs, analysts believe, is reigning supreme now, which is weighing on the markets. The ongoing chaotic scenario, new news and developments can trigger volatility.
US President Donald Trump defends tariffs, says India imposes over 100 per cent auto tariff, calls trade policies of EU, China, Brazil, Mexico, and Canada 'unfair'
From a steel standoff in 2018 to a lumber feud spanning decades, here's how US-Canada tariff battles have shaped trade relations over the years
Stock Market Today, March 4: Stock markets today may open gap-down as Donald Trump decides to go-ahead with tariffs on Canada and Mexico from today
Market Crash Highlights, Friday: BSE MidCap and SmallCap indices plunged over 2% each; Sectoral indices led by Auto and IT cracked up to 4% as Trump tariff threats weighed; HDFC Bank, however, rose 2%
The US action means the Chinese government will need to announce an additional stimulus worth 500 billion yuan ($69 billion) to 700 billion yuan to meet its growth targets
Trump has decided to move forward with the imposition of tariffs on Canada and Mexico, starting March 4 as the flow of illicit drugs into the US hasn't stopped
The Nifty 50 index has shed nearly 13% in the last five straight months, its longest losing streak since November 1996; equalling its second-worst ever in the 30-year history.
Sensex Today | Stock Market Highlights: The Indian equity markets will remain closed tomorrow, February 26, 2025, on account of Mahashivratri