The Intraday US Stock Market Discussion Board
http://bbs.cobrasmarketview.com/
Trump is ending trade talks with Canada
CNN -- President Donald Trump said Friday he has put an end to trade talks with Canada and will soon announce a new tariff rate for that country, he said in a Truth Social post on Friday.
Canada is the top buyer of American goods, importing $349 billion worth last year, according to Department of Commerce data. Meanwhile, Canada shipped $413 billion worth of goods to the US last year, the third-highest source of foreign goods.
Levying higher tariffs on Canada would likely cause the country to retaliate by imposing higher tariffs on American goods. That would take a toll on both countries’ economies.
Stocks dropped lower after Trump’s Friday afternoon post. The Dow was up 191 points, or 0.4%, after rising as much as 580 points earlier. The S&P 500, which had been on the verge of closing at a new record high, turned negative, falling 0.06%. The tech-heavy Nasdaq also dipped into the red and fell 0.2%.