Trump Tariffs Spark Global Market Turmoil and Government Relief Measures

April 7, 2025, 11:22 am

News reports detail a cascade of reactions following new U.S. tariff measures announced by President Trump. Canadian financial markets and U.S. trading partners experienced dramatic losses, prompting government relief measures including tax deferrals and multi-billion‐dollar aid packages. Officials described the tariffs as necessary while warning of long‐term economic fallout. Analysis cited declining business confidence, trade uncertainty from Bank of Canada reports, and bold remarks labeling tariffs as “medicine,” highlighting heightened tensions amid evolving global trade dynamics.

thestar.com / Trump tariffs: Canadian, U.S. stock markets plunge for third day; Trump responds to China’s counter-tariffs

The carnage on world markets is continuing as traders react to U.S. President Donald Trump’s trade war.

winnipegfreepress.com / Bitcoin and other cryptocurrencies see prices fall amid global market turmoil

financialpost.com / Bank of Canada outlook surveys show recession fears rising

Almost a third of Canadian businesses and 67% of consumers expect a downturn this year

torontosun.com / BoC reports show trade uncertainty takes toll on business and consumer confidence

Bank of Canada reports reveal a Q1 drop in business and consumer sentiment amid U.S. tariff uncertainty, with 32% of firms planning under recession assumptions.

globalnews.ca / Ontario defers tax collection for businesses amid Trump tariff fallout

With the ongoing economic uncertainty created by Donald Trump’s tariffs, the Ontario government says it is deferring a number of taxes for businesses.

citynews.ca / BoC reports show trade uncertainty takes toll on business and consumer confidence

Bank of Canada reports show declining business and consumer sentiment in Q1 amid U.S. tariff uncertainty, with 32% of firms now assuming a recession is likely in Canada.

cbc.ca / Leaders campaign against backdrop of major global market sell-off

Today, the federal leaders are fanned out across the country. They’ll be campaigning against a bleak backdrop: global markets are decidedly rejecting the new tariff regime imposed by U.S. President Donald Trump last week.

cbc.ca / RV industry hopes for more Canadian road trippers amid tariff uncertainty

Canadian RV dealers say they are concerned about the threat of tariffs on their industry, but are cautiously optimistic about renewed interest in travellers exploring Canada in a recreational vehicle.

nationalobserver.com / Carney, Starmer discuss more significant trade ties in response to Trump's tariff war

Prime Minister Mark Carney says he spoke on Sunday with his counterpart in the United Kingdom about the fallout from the United States' global tariff campaign.

nationalpost.com / Trump says he’s not backing down on tariffs, calls them ‘medicine’ as markets reel

Trump has insisted his tariffs are necessary to rebalance global trade and rebuild domestic manufacturing

thestar.com / Trump tariffs: World markets face Panic Monday; Doug Ford pledges relief for workers and businesses hit by tariffs

European markets were down sharply, while markets in Asia tumbled overnight.

torontosun.com / Panic Monday: Wall Street follows global markets sharply lower as Trump doubles down on tariffs

Wall Street may face major losses Monday after last week's steep drop amid fears that Trump's tariffs could slow global growth, causing European and Asian shares to plunge and oil prices to fall.

winnipegfreepress.com / Ivan Juric out at relegated Southampton for his 2nd firing of the season

thetyee.ca / Trump, Tariffs, Canada and the Politics of Discontent

This election compels us to face forces that tore apart the US and could do the same here.

14 stories from 10 sources in 11 days ago #politics #us-relations #global-trade #labour #employment #economy #tariffs #trade #business #ontario #finance #consumer #elections #federal #rural #bc

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