Canada-US Trade Deal Falls Apart Amid Last-Minute Changes
A trade deal between Canada and the US has fallen apart after last-minute changes to the terms of the agreement, prompting Prime Minister Mark Carney to break off negotiations.
The deal, which was meant to go into effect on Saturday, would have imposed new tariffs on Canadian exports worth $28 billion. However, Carney said that the US proposed changes were 'unfair, uneconomic and called into question the reliability of any deal.'
In response, Canada will impose dollar-for-dollar tariffs on US exports, matching the rates set by President Donald Trump.
Meanwhile, Canadian financial institutions are restricting their employees' use of prediction markets, which allow users to bet on events such as interest rate decisions and corporate earnings. Royal Bank of Canada (RY-T) has barred its employees from placing bets on these platforms, while Scotiabank (BNS-T) prohibits employees from speculating on financial markets.