World leaders, financial markets respond after Trump's tariffs trigger global economic earthquake

Low loonie? ‘Not specified a atrocious happening ’

The Canadian dollar has strengthened against a weakened U.S. dollar this morning, hitting 71 cents for the archetypal clip since November.

Some perspective: erstwhile Trump started making tariff threats successful the fall, the loonie fell to 71 cents, which astatine the clip was the lowest it had gone since May 2020.

“I deliberation the stableness astatine a little level is not specified a atrocious thing,” said Derek Burleton, vice-president and lawman main economist astatine TD Bank.

A little loonie benefits exporters who vessel their products to the U.S., due to the fact that it makes Canadian products much competitively priced. And that tin offset immoderate tariff pain.

“A cheaper loonie cushions immoderate of the stroke of higher tariffs erstwhile we vessel goods,” explained Burleton.

‘We person to respond,’ Ford says

I’m a newsman who covers Ontario provincial authorities from Toronto.

Ontario Premier Doug Ford reacted to quality contiguous that automaker Stellantis volition adjacent its works successful Windsor temporarily.

“Well, successful my opinion, we person to respond,” helium said. “Let’s commune it’s lone a mates of weeks.”

The shutdown impacts astir 3,200 workers successful Canada and 900 successful the U.S., the institution told CBC News.

Ford made the comments arsenic helium was headed into a virtual gathering with the remainder of Canada’s premiers to sermon Trump’s tariff announcement. Ford is expected to talk with reporters again aft the archetypal ministers’ gathering concludes this morning.

NDP wants to bring backmost wartime Victory Bonds

Singh is successful Ottawa to denote that an NDP authorities would contented Victory Bonds — a instrumentality that was utilized to rise revenues successful Canada during some satellite wars.

All of the gross raised by the programme would beryllium utilized straight successful effect to the U.S. commercialized war, promised Singh. The authorities would connection five- and 10-year bonds that Canadians tin bargain done a payroll deduction.

A akin program, the Canada Savings Bonds, was discontinued successful 2017 due to the fact that it was nary longer outgo effective. CBC newsman Janyce McGregor pressed Singh today, asking wherefore Victory Bonds would beryllium immoderate much palmy than the Canada Savings Bonds were.

“We’re successful a precise antithetic discourse close now,” said Singh. “We are successful a benignant of warfare close present — successful a commercialized warfare — and the menace of Donald Trump has made Canadians say, ‘What tin I bash to basal up and support my country?’ So for those Canadians who privation to contribute, here’s a mode to bash so.”

How is the U.K. reacting to Trump’s tariffs?

I'm Crystal Goomansingh successful London.

U.K. Prime Minister Keir Starmer says Britain volition instrumentality a "calm approach” arsenic businesses successful the United Kingdom exporting goods to the U.S. look a caller 10 per cent tariff.

The levy imposed connected the U.K. was little than the 20 per cent placed connected the European Union, which the U.K. near connected Jan. 31, 2020.

"I mean, we person our ain trading narration with the U.S. It is really a just and balanced narration if you look astatine the numbers and, of course, we've got decades worthy of a peculiar narration with the United States,” Starmer said contiguous successful London.

Since leaving the EU, the U.K. has been seeking a bilateral commercialized statement with the U.S.

Members of the U.K. Parliament made respective inquiries astir however the Labour authorities plans to support businesses, negociate outgo of surviving and enactment with planetary partners successful airy of sweeping tariffs affecting countries astir the world.

Jonathan Reynolds, caput of authorities for concern and trades, told his chap MPs, "I caution members of this House to support calm and stay clear-eyed connected what is successful our nationalist interest, not to simply proclaim that we travel the actions of different countries."

The markets are not happy

Major North American markets are unfastened and stocks are getting pummelled successful the aftermath of Trump’s sweeping tariff measures.

At 9:30 a.m. ET, the Dow Jones concern mean had plunged much than 1,000 points, down by 2.75 per cent; the Nasdaq fell much than 4 per cent; and the S&P 500 fell much than 3 per cent.

The U.S. dollar, measured against six different currencies, slid to its lowest level since October — earlier Trump was inaugurated — connected fears that the U.S. system volition beryllium wounded by the caller planetary commercialized order.

The latest Poll Tracker update

Here are the latest nationalist polling developments arsenic summed up by Éric Grenier of TheWrit.ca. He is managing the CBC Poll Tracker passim the campaign.

From Éric:

“The Liberals would beryllium highly apt to triumph the astir seats, and precise apt a bulk government, if an predetermination were held today. The enactment could triumph implicit 200 seats for the archetypal clip successful its past connected existent polling numbers.

“The Conservatives would signifier a sizable opposition, portion the Bloc and NDP would spot their spot holdings importantly reduced.”

Blanchet wants Quebec astatine the commercialized negotiations table

Blanchet wants the Quebec provincial authorities to take its ain representatives for aboriginal negotiations connected the Canada-U.S.-Mexico Agreement connected commercialized (CUSMA) truthful “that there’s nary woody without Quebec,” helium said successful French.

The Bloc person is successful Quebec City this morning, sharing his absorption to Trump’s tariffs.

“We are successful favour of counter-tariffs due to the fact that determination are inactive amerciable tariffs being imposed — dollar for dollar of people — but being cautious to marque exceptions for definite peculiarly susceptible sectors,” Blanchet said, listing the agri-food and aerospace sectors arsenic 2 examples.

“Some sectors are precise susceptible due to the fact that they bargain parts and components from the U.S. So I deliberation we request to people alternatively than marque it a cross-Canada effort. But I deliberation Canada indispensable instrumentality enactment quickly.”

David Thurton here, reporting connected the NDP’s national campaign. Leader Jagmeet Singh didn’t remark connected Trump’s announcement yesterday, saying each helium had to accidental earlier successful the day.

He had spoken successful Winnipeg astir his program to betterment employment security and support cardinal Canadian industries — captious minerals, energy procreation and the taste assemblage — from Trump’s tariffs.

Singh did accidental past nighttime connected societal media that helium would denote his program for “nation-building, war-time measures to Trump-proof Canada.”

Stellantis temporarily shuts down Windsor plant

Stellantis confirmed it volition unopen down its assembly works successful Windsor, Ont., for 2 weeks, mostly due to the fact that of the U.S.’s 25 per cent tariff connected imported vehicles.

The shutdown starts connected Monday and operations volition restart connected April 21. About 4,500 radical enactment astatine the plant.

A spokesperson for Stellantis said the institution is assessing the interaction of the tariffs and “will support engaging with the U.S. medication connected this issue.”

Hi everyone, your greeting unrecorded leafage writer signing on. If you aren’t caught up, here’s what’s happening successful the aftermath of Trump’s tariffs.

• Yesterday, Trump imposed a baseline 10 per cent tariff connected astir countries, but Canada and Mexico were not included.
• A 25 per cent tariff connected vehicles imported into the U.S. went into effect astatine 12:01 a.m. ET this morning. Canada is included, and the North American car manufacture is bracing for devastation.
• Carney, arsenic premier minister, is gathering with Canada’s premiers astatine 10 a.m. ET. He’s expected to clasp a quality league astatine 11:30 a.m. ET.
• He said past nighttime that Canada would combat the tariffs with countermeasures.
• Canada’s different national enactment leaders are expected to remark connected Trump’s tariffs today, and we’ll beryllium watching for their responses.
• Conservative Leader Pierre Poilievre volition clasp a property league successful Kingston, Ont.,; NDP Leader Jagmeet Singh is successful Ottawa to marque an announcement; Bloc Québécois Leader Yves-François Blanchet volition talk to reporters successful Quebec City; and Green Party co-leaders Elizabeth May and Jonathan Pedneault volition clasp an event.