Forex
Loonie Takes a Hit Amid US Tariffs and Trump Threats
The Canadian dollar fell against the US dollar in late-morning trading on August 24, 2026, as the US imposed 50% tariffs on approximately $28 billion worth of Canadian goods. The move was preceded by stalled trade talks between Canada and the US, which broke down on Friday night.
President Donald Trump issued fresh threats of tariff hikes on vehicles, auto parts, and steel, further contributing to the decline in the loonie's value. The Canadian dollar traded at 72.27 cents US compared to 72.67 cents US on Friday.