Trump's Tariff Pause Boosts Canadian Economy

Canada's economy got a temporary boost on Wednesday morning as US President Donald Trump announced he would pause implementing tariffs against Canada. The Canadian dollar strengthened to $0.7229, up from Tuesday's close of $0.7200. This came after Trump claimed a deal between the two countries was reached and awaiting finalization.

Canadian Prime Minister Mark Carney released a statement saying 'substantial progress has been made, although there is important work still to be done.'

The TSX index also rose by 366.14 points, trading at 36,734.07 at 8:43 CDT. Crude oil prices increased by 0.5%, reaching $84.50 per barrel.