Canadian Loonie Tanks Amid Trade Rift with US

The Canadian dollar has fallen significantly against its US counterpart following the collapse of trade talks between Canada and the United States. The loonie dropped as much as 0.6% to C$1.3844, marking its worst performance since June 17.

This decline comes on the heels of Washington's decision to impose a 50% tariff on billions of dollars worth of Canadian goods, which is expected to hinder economic growth in the coming months according to market watchers.