Canada-US Trade Tensions Escalate Amid Bank of Canada Decision

Trade tensions between Canada and the US have taken another turn for the worse. Ten days ago, trade talks collapsed, but Ottawa hasn't made any moves to re-enter negotiations, according to Prime Minister Justin Trudeau.

Trudeau has described the US offer as 'a bad deal' and said American negotiators had an attitude that Canada is a subsidiary of the US.

US President Donald Trump signed an executive order renaming Lake Ontario to Lake America. However, this change only applies to federal documents and doesn't affect the rest of the world.

The collapse of trade talks has complicated the Bank of Canada's path just days before its next interest-rate decision, which is expected to be announced on Wednesday.