iShares MSCI Canada Index Fund (ARCA: EWC)

Últimas noticias sobre iShares MSCI Canada Index Fund (ARCA:EWC)

iShares MSCI Canada Index Fund

Financial Services

Energy

Industrials

Basic Materials

Technology

Consumer Defensive

Consumer Cyclical

Utilities

Communication Services

Real Estate

Other

The fund will at all times invest at least 90% of its assets in the securities of its underlying index and in depositary receipts representing securities in its underlying index. The underlying index is designed to measure broad-based equity performance in Canada. The underlying index uses a capping methodology to limit the weight of any single issuer to a maximum of 25% of the underlying index. The underlying index will include large- and mid-capitalization companies and may change over time.

Royal Bank Of Canada

iShares MSCI Canada ETF

Peso mexicano y dólar canadiense caen tras amenaza de aranceles de Trump

ENERGY WORLD CORP LTD by Energy World Corp. Ltd.

Energy World Corp Ltd

European Wax Center, Inc. - Class A Common Stock

European Wax Center Inc

<a href="https://www.wsj.com/world/americas/trump-pushes-for-early-renegotiation-of-u-s-trade-deal-with-mexico-canada-c8f9f371" title="https://www.wsj.com/world/americas/trump-pushes-for-early-renegotiation-of-u-s-trade-deal-with-mexico-canada-c8f9f371">https://www.wsj.com/world/americas/trump-pushes-for-early-renegotiation-of-u-s-trade-deal-with-mexico-canada-c8f9f371</a>

Macro Economic Events

News

Politics

Legal

Global

Economics

General

"Trump Pushes For Early Renegotiation Of U.S. Trade Deal With Mexico, Canada; The Continental Trade Pact Isn't Up For Review Until 2026, But Trump's Advisers Want To Open It Up Quickly" - WSJ

The Mexican peso and Canadian dollar weakened on Tuesday after President Donald Trump pledged to impose 25% tariffs on imports from Canada <a href="https://www.benzinga.com/topic/donald-trump">and Mexico starting Feb. 1.</a>
The move, tied to concerns over illegal immigration and drug trafficking, has sparked fears of economic disruption and rising costs for everyday goods.
"We are thinking in terms of 25% on Mexico and Canada," Trump said later on Monday, citing issues with &#8220;vast numbers of people&#8221; and "fentanyl" entering the U.S.
See Also: <a href="https://www.benzinga.com/general/social-media/25/01/43088960/trump-suspends-us-tiktok-ban-for-75-days-with-executive-order-but-legal-and-market-uncertainty-looms-over-platforms-future">Trump Postpones TikTok Ban</a>
<h3 class="wp-block-heading">Increased Supply Chain Disruptions Or A Bluff? </h3>
Trump's tariff proposal could disrupt supply chains, given the scale of U.S. trade with its neighbors. According to ING Group economist Inga Fechner, 15% of all U.S. imports in 2023 came from Mexico, while 13.7% came from Canada.
"About a third of everything the U.S. imports would be affected by unilateral tariffs, potentially disrupting supply chains and impacting the economy significantly," Fechner said.
Mexico's share of U.S. imports exceeds 25% in seven categories, while Canada's share exceeds 25% in 20 categories. These categories include agricultural products, food and beverages, automobiles, metals, wood, and industrial products.
Fechner added that the tariffs could lead to price hikes on everyday goods, including a &#8220;typical U.S. breakfast.&#8221; Items like coffee, which are already seeing soaring prices, could become even more expensive in the months ahead.
On the contrary, Goldman Sachs economist Alec Phillips questioned the implementation of those tariff threats. 
While he said that Trump's comments on Canada and Mexico were "more hawkish than expected," he indicated that similar proposals in the past were not followed through.
Phillips reminded that Trump previously announced plans for tariffs on Mexico in 2019 and pledged to sign necessary paperwork in November 2024 to enact trade measures on Inauguration Day, neither of which materialized.
&#8220;Despite Trump's comments, we continue to believe the odds of a 25% tariff on Canada and Mexico are low at 20%. We are lowering our odds of a universal tariff this year to 25%,&#8221; Phillips said in a note. 
<h3 class="wp-block-heading">Trudeau Vows Retaliation</h3>
Canadian outgoing Prime Minister Justin Trudeau quickly pushed back on Trump's tariff proposal, vowing a robust response. 
Speaking at a news conference in Montebello, Quebec, Trudeau warned that Canada would match U.S. tariffs dollar for dollar if they were implemented.
"Canada will respond, and everything is on the table," Trudeau said, adding that the U.S.–Canada relationship remains one of the most successful partnerships globally. 
He also highlighted Canada's role as a "safe, secure, reliable partner" for critical U.S. imports like steel, aluminum, and energy.
Trudeau cautioned that if the U.S. turns away from Canada, it may have to source resources from adversarial nations like Russia, China, or Venezuela.
<h3 class="wp-block-heading">Currencies Plunge As Trade Risks Mount</h3>
The Mexican peso weakened 1.2% in the session, with the USD/MXN exchange rate rising to 20.72. The peso has now lost 4% of its value against the dollar since Trump's election victory in November 2024.
The Canadian dollar also struggled, falling 0.7% in its worst daily performance in over a month. The USD/CAD exchange rate reached 1.44 levels, with the currency similarly down about 4% since November.
Despite the currency weakness, equity markets in both countries saw gains. The iShares MSCI Canada Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) rose 1.1%, while the iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) climbed 1.9%. 
Now Read: 
<ul>
<li><a href="https://www.benzinga.com/government/regulations/25/01/43097430/trumps-drill-baby-drill-era-begins-oil-prices-tumble-us-energy-stocks-edge-up">Trump&#8217;s &#8216;Drill, Baby, Drill&#8217; Era Begins: Oil Prices Tumble, US Energy Stocks Edge Up</a></li>
</ul>
Image: Shutterstock

Mexican Peso, Canadian Dollar Slide As Trump Threatens 25% Tariffs, Economist Eyes Price Hikes On 'Typical US Breakfast'

STLA

Michigan Governor Warns Potential Trump Tariffs On Autos, Parts From Canada, Mexico Could Boost China, Harm U.S. Auto Sector

President-elect Donald Trump has made tariffs one of the most talked about items ahead of his inauguration on Jan. 20. So far, he has not backed down from plans to place or increase tariffs on <a href="https://www.benzinga.com/topic/tariffs">various trade partners</a>, including Canada, Mexico and China.
What Happened: On Tuesday, Trump took things a step further by naming a new agency tasked with overseeing tariffs.
"For far too long, we have relied on taxing our Great People using the Internal Revenue Service (IRS). Though soft and pathetically weak Trade agreements, the American Economy has delivered growth and prosperity to the World, while taxing ourselves," Trump <a href="https://truthsocial.com/@realDonaldTrump/posts/113827650534234057">said </a>in a post on Truth Social. "I am today announcing that I will create the EXTERNAL REVENUE SERVICE to collect our Tariffs, Duties and all Revenue that come from Foreign sources."
Trump intends for Jan. 20 — inauguration day — to be the birthdate for the so-called &#8220;External Revenue Service.&#8221; Normally, a new law would need to be passed first to create a new bureau or statutory body.
"We will begin charging those that make money off of us with Trade, and they will start paying, FINALLY, their fair share,&#8221; Trump added. 
It&#8217;s worth noting that the U.S. Customs and Border Protection (CBP), under the Department of Homeland Security, already oversees tariffs and revenue from foreign countries. Its key functions include collecting customs duties and tariffs. The CBP also enforces trade laws and ensures revenue accountability as one of the federal government's largest revenue collectors.
Meanwhile, Democratic lawmakers are already scrutinizing Trump&#8217;s External Revenue Service plan. "No amount of silly rebranding will hide the fact that Trump is planning a multi-trillion-dollar tax hike on American families and small businesses to pay for another round of tax handouts to the rich," Oregon Sen. Ron Wyden, the top Democrat on the Senate Finance Committee, <a href="https://www.finance.senate.gov/chairmans-news/wyden-statement-on-trumps-so-called-external-revenue-service">said</a> in a statement.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent011425">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: Trump's plans to place tariffs on three of the country's largest trade partners have led to many question marks on how the other countries will respond and if items will get more expensive for American consumers as a trade off.
<a href="https://www.benzinga.com/trading-ideas/24/12/42536470/costco-warns-that-tariffs-raise-prices-trump-team-says-trade-policies-will-make-life-affordable">Retail executives</a> Costco Wholesale (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) and Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) have already warned about tariffs on earnings calls. Tariffs <a href="https://www.benzinga.com/news/global/24/12/42402629/trump-to-change-dollar-stores-for-good-dollar-tree-exec-says-prepared-to-act">could mean higher prices</a> for consumers, less product assortment or a change to product sizes, they say.
Trump joked that Canada <a href="https://www.benzinga.com/news/global/24/12/42300450/trump-told-trudeau-canada-could-avoid-tariffs-by-becoming-51st-state-a-look-at-sectors-trade-war-could-impact">could become the</a> 51st state of America to avoid tariffs. While the country <a href="https://apnews.com/article/canada-trump-chretien-51st-state-ad9749047d0b627eed56be22f43ea7cd">isn't ready</a> to do that, a new report signals the country could be working on avoiding the tariffs.
Canadian ambassador Kirsten Hillman said Canada is prepared to buy more items from the U.S., as <a href="https://apnews.com/article/canada-ambassador-us-trump-hillman-9ced5ba12cd6526a2bbb4a810fa9af18">reported </a>by the Associated Press. The move would ensure that there is not a deficit for America in its trade with Canada.
Hillman warned that a plan to put tariffs on all Canadian products will lead to prices going up for Americans.
"And at a time when the cost of living is challenging, when food prices are high, it seems like the wrong direction to go in," Hillman said.
Top items exported from Canada to the U.S. include oil, gas and automotive parts. These industries could see higher-priced goods under Trump's tariff plan.
Large Canadian oil companies Suncor Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>), Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Canadian Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and TC Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) could face significant impacts from the tariffs and a potential blow to the sector.
Railway company Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) and trucking companies Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) and Knight-Swift Transportation Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) could also be impacted by the tariffs and the negative impact on trade between the United States and Canada.
Mexican President Claudia Sheinbaum has recently shown a serious focus on migration and security, two of Trump's vocal demands to keep the U.S. from placing tariffs on the country, as reported by Reuters.
Sheinbaum has <a href="https://www.benzinga.com/markets/cannabis/25/01/42895985/trump-and-mexican-president-sheinbaum-spirited-clash-over-territorial-renaming-tariffs-and-cartels">publicly sparred with Trump</a>, but it remains to be seen if she will be able to avoid tariffs for Mexico.
Ford Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>), General Motors Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) and Honda Motor Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HMC#NYSE">HMC</a>) are among the automotive companies that <a href="https://www.benzinga.com/government/regulations/24/12/42688941/are-us-vehicles-under-30000-a-thing-of-the-past-trumps-mexico-tariff-plans-could-change-auto-market">have sub-$30,000 vehicles </a>that are partially or fully built in Mexico and Canada.
Higher tariffs on China could rattle the American economy as the country remains a major source of many exported goods. To get ahead of potential tariff increases, China saw its exports up 10.7% in the month of December, NPR <a href="https://www.npr.org/2025/01/13/nx-s1-5258024/china-exports-us-tariffs">reported</a>.
The growth was higher than estimates of 7% and could show that companies and China are taking proactive approaches to get ahead of higher-costing goods.
ETF Price Action: The iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>) is up 0.3% to $39.94 on Tuesday. The ETF is up 11% over the last year and down 4.5% over the last month.
The iShares MSCI Mexico ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWW#NYSE">EWW</a>) is up 1.5% to $48.15 on Tuesday. The ETF is down 25.3% over the last year and down 6.4% over the last month.
The iShares MSCI China ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MCHI#NASDAQ">MCHI</a>) is up 2.3% to $44.89 on Tuesday. The ETF is up 19.2% over the last year and down 5.5% over the last month.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year</a></li>
</ul>
Image: Shutterstock

Specialty ETFs

ETFs

COST

DLTR

MCHI

ODFL

Trump Wants Trade Partners To 'Start Paying,' Plans External Revenue Service To Oversee Tariffs

Maps of the U.S. and surrounding territories could look a whole lot different in the coming years if President-elect Donald Trump is serious about trying to rename the Gulf of Mexico as the Gulf of America and trying to obtain <a href="https://www.benzinga.com/news/global/25/01/42857403/trump-sends-don-jr-on-mission-to-get-the-deal-done-and-make-greenland-part-of-our-nation">Greenland and Canada. </a>
Canada isn't ready to become an American state anytime soon and one official has his own suggestion to change the map.
What Happened: Back in December, Trump told Canadian Prime Minister Justin Trudeau that if Canada was unhappy with tariffs, the country <a href="https://www.benzinga.com/news/global/24/12/42300450/trump-told-trudeau-canada-could-avoid-tariffs-by-becoming-51st-state-a-look-at-sectors-trade-war-could-impact">could become the 51st state.</a>
Fast forward to 2025 and Trump has continued to push for plans to make Canada the 51st state of the U.S. and even said he <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">would be willing</a> to use "economic force" to do so in a recent speech.
Canadian officials haven't taken kindly to the comments, whether they are jokes or not.
Ontario Premier Doug Ford suggested that instead of America getting Canada, the country to the north could offer to purchase two American states, as <a href="https://nypost.com/2025/01/07/us-news/state-of-eh-canadian-pol-doug-ford-counters-trump-and-offers-to-buy-two-american-states/">reported </a>by the New York Post.
"To the president, I'll make him a counteroffer. How about if we buy Alaska? And we'll throw in Minnesota and Minneapolis at the same time? You know, it's not realistic," Ford said.
Ford said he believes Trump is joking, but he takes the notion of Canada becoming a state seriously.
"He may be joking, but under my watch, that will never, ever happen."
Trudeau, who recently announced he <a href="https://www.benzinga.com/25/01/42823979/canadas-pm-justin-trudeau-steps-down-amid-internal-conflict-and-tension-over-trump-tariffs">is stepping down </a>as Canada's leader, also took exception to Trump's latest comments.
"There isn't a snowball's chance in hell that Canada would become part of the United States. Workers and communities in both our countries benefit from being each other's biggest trading and security partner," Trudeau <a href="https://x.com/JustinTrudeau/status/1876712025725796712">tweeted</a>.
Trudeau's tweet generated a response from billionaire and Trump ally Elon Musk.
"Girl, you're not the governor of Canada anymore, so doesn't matter what you say," Musk tweeted.
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent010925">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: This isn't the first time Ford has spoken out about comments Trump has made since he won the 2024 presidential election.
Ford threatened to hurt Americans with energy and beer if Trump's 25% tariffs on Canadian exports go through.
"It would cut off the lights to a million and a half Americans. If they come at us, we have to stand up for Canadians, we have to stand up for Ontarians," Ford said.
While America imports items in the energy, beer and automotive sectors, Trump has said the country doesn't need its trading partner to the north.
"We don't need anything they have. So why are we losing $200 billion a year to protect Canada," Trump recently said.
While the changing of states or territories is unlikely to happen, the threat of tariffs on Canada by Trump could start a trade war with one of America's largest partners. The situation continues to develop ahead of Trump's Jan. 20 inauguration.
EWC Price Action: The iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), which is one of the largest Canadian stock ETFs, has fallen 5% over the last month. The top industries <a href="https://www.ishares.com/us/products/239615/ishares-msci-canada-etf">held </a>in the ETF are financials (37.3%), energy (18.0%), industrials (11.5%), information technology (10.8%) and materials (10.4%).
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year</a></li>
</ul>
Photo: Shutterstock

Government

Canadian Official Claps Back At Trump's 51st State Comments, Offers To Buy These Two American States

<a href="https://www.cnn.com/2025/01/08/economy/trump-national-economic-emergency-tariffs/index.html" title="https://www.cnn.com/2025/01/08/economy/trump-national-economic-emergency-tariffs/index.html">https://www.cnn.com/2025/01/08/economy/trump-national-economic-emergency-tariffs/index.html</a>

CNN Reported President Elect Trump Is Considering A National Economic Emergency Declaration To Allow For New Tariff Program

FORD

President-Elect Donald J. Trump Says Very Serious Tariffs On Mexico, Canada

Macro Notification

Market Summary

$BTC

MSFT

NVDA

Benzinga Market Summary: Bitcoin Rises, Trudeau To Resign As Liberal Party Leader, Tech Stocks Rise Amid CES 2025 And Microsoft AI Investment Plans

Canadian Prime Minister Justin Trudeau, who has been in power for nearly 10 years, announced his resignation Monday.
Trudeau said he will step down after the Liberal Party selects its new leader and said the Parliament will be suspended until March 24.
"I care deeply about this country and I will always be motivated by what is in the best interests of Canadians. And the fact is, despite best efforts to work through it, Parliament has been paralyzed for months after what has been the longest session of a minority Parliament in Canadian history," he said. 
<h2 class="wp-block-heading">Canada Stocks To Watch With Trump Tariff Threats, Trudeau Exit On Horizon </h2>
U.S.-traded stocks of major Canadian companies, particularly in the financial and energy sectors, could experience volatility due to this political upheaval. Mexico, Canada and China — the three countries U.S. President-elect Donald Trump has targeted for tariffs — are the U.S.'s top three trading partners.
Canadian banking institutions traded in the U.S. include the : Royal Bank of Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RY#NYSE">RY</a>), Toronto-Dominion Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TD#NYSE">TD</a>), Bank of Montreal (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMO#NYSE">BMO</a>) and the Canadian Imperial Bank of Commerce (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CM#NYSE">CM</a>).
Energy companies could also be affected by the political upheaval in Canada: they include e Enbridge Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), TC Pipelines (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>), Suncor Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>) and Canadian Natural Resources Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>).
In the tech sector, Ottawa-based Shopify Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHOP#NYSE">SHOP</a>) is trading up 3.7%.
Trudeau's announcement comes shortly after the resignation of Finance Minister Chrystia Freeland, who <a href="https://www.benzinga.com/news/global/24/12/42520833/trudeaus-government-loses-a-top-negotiator-ahead-of-trumps-second-term">stepped down</a> in mid-December due to disagreements with Trudeau&#8217;s spending proposals. Freeland, who also served as deputy prime minister, left the cabinet because she believed Trudeau was not taking adequate measures to prepare for a <a href="https://www.benzinga.com/news/global/24/12/42475000/if-trump-starts-a-trade-war-canada-could-impose-export-taxes-on-oil-uranium-report">potential trade war</a> with Washington.
Canadian ETFs likely to be affected by this political firestorm, according to <a href="https://www.benzinga.com/money/etf-canada">Benzinga Pro</a>, include <a href="https://www.benzinga.com/quote/BBCA" target="_blank" rel="noreferrer noopener">JPMorgan BetaBuilders Canada ETF</a> (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BBCA#BATS">BBCA</a>) which is trading up 0.9%; the iShares MSCI Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), up 0.79%; SPDR Solactive Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ZCAN#NYSE">ZCAN</a>), up 0.88%; and Invesco CurrencyShares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>), up 0.59%. The <a href="https://www.benzinga.com/quote/FLCA" target="_blank" rel="noreferrer noopener">Franklin FTSE Canada ETF</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) is trading 0.95% higher midday Monday.
Now Read:
<ul>
<li><a href="https://www.benzinga.com/25/01/42813324/trumps-universal-tariff-plans-take-shape-analysts-expect-stronger-for-longer-greenback#google_vignette">Trump&#8217;s Universal Tariff Plans Take Shape, Analysts Expect &#8216;Stronger For Longer&#8217; Greenback</a></li>
</ul>
Photo: Shutterstock.

BBCA

FLCA

SHOP

ZCAN

Justin Trudeau Will Step Down As Canada Faces Tension Over Trump Tariffs

<a href="https://www.youtube.com/watch?v=PC3WglcqmKI" title="https://www.youtube.com/watch?v=PC3WglcqmKI">https://www.youtube.com/watch?v=PC3WglcqmKI</a>

Canada PM Trudeau Says Work Of Parliament Will Be Suspended Until March 24; Canada Prime Minister Trudeau Says He Will Step Down As Soon As Ruling Liberals Choose A Replacement For Him

Canada Pm Trudeau Will Hold A News Conference At 1045 a.m. ET

Canada's Deputy Prime Minister & Minister Of Finance Chrystia Freeland Resigns

<a href="https://www.bloomberg.com/news/articles/2024-12-12/canada-weighs-export-taxes-on-uranium-oil-if-trump-starts-trade-war?srnd=homepage-americas" title="https://www.bloomberg.com/news/articles/2024-12-12/canada-weighs-export-taxes-on-uranium-oil-if-trump-starts-trade-war?srnd=homepage-americas">https://www.bloomberg.com/news/articles/2024-12-12/canada-weighs-export-taxes-on-uranium-oil-if-trump-starts-trade-war?srnd=homepage-americas</a>

Themes ETF Trust Themes Uranium & Nuclear ETF

URAN

UUUU

Canada Weighs Export Taxes On Uranium, Oil If Trump Starts Trade War

Econ #s

Bank Of Canada Interest Rate Decision 3.25% Vs 3.25% Est.; 3.75% Prior

President Elect Trump Said He Absolutely Would Consider Exiting NATO -NBC's Meet The Press

President-Elect Trump Said He Can't Guarantee Americans Won't Pay More As A Result Of Tariffs -NBC's Meet The Press

<a href="https://www.bloomberg.com/news/articles/2024-12-06/nvidia-backed-cohere-to-invest-in-mega-data-center-in-canada">https://www.bloomberg.com/news/articles/2024-12-06/nvidia-backed-cohere-to-invest-in-mega-data-center-in-canada</a>
&nbsp;
Artificial intelligence startup Cohere Inc. is partnering with CoreWeave Inc. to build a multibillion-dollar data center in Canada, with financial help from the Canadian government.

'Nvidia-Backed Cohere To Invest In Mega Data Center In Canada' - Bloomberg News

ECONOMIC SUMMARY AND OUTLOOK
The global economy remains on track for a modest slowdown in calendar 2024, as high interest rates continue to weigh on growth. Alongside slower growth, inflation across the G-7 has cooled, and central banks have started to lower interest rates. TD Economics expects future interest rate reductions to be gradual, as central banks assess how growth and inflation respond. In addition, the evolution of geopolitical risks maintains a degree of uncertainty on both the economic outlook and the inflation trajectory.
The U.S. economy has continued to grow at a solid pace in calendar 2024 supported by resilient consumer spending and strength in business investment. High borrowing costs have curtailed residential investment, which has weighed on overall growth. With U.S. domestic demand outpacing many of its advanced economy peers, import growth has also run ahead of exports, leading to little support to growth from international trade.
Based on the October 2024 data, the U.S. job market has stabilized recently, with the unemployment rate at 4.1%, up modestly from a year ago. This can be characterized as a normalization following tight conditions that persisted for longer than expected after the pandemic. The U.S. economy carries the markings of a "soft landing" that is allowing inflation pressures to gradually drift lower and opened the door to interest rate cuts by the U.S. Federal Reserve. The U.S. central bank lowered its policy rate by half a point in September and another quarter point in October.
TD Economics expects the U.S. Federal Reserve to continue to lower interest rates over the next year. However, the pace of interest rate reductions has become more uncertain following the November election. Given the likelihood of increased tariffs under the new administration, and the potential for tax cuts, the risk that inflation experiences renewed upward pressure has increased. This could slow the pace of interest rate reductions. TD Economics expects the federal funds rate to be lowered to 3.25-3.50% by the end of calendar 2025 – a level that is still on the restrictive side.
After Canada's economy slowed notably in calendar 2023, strong population gains have lifted economic growth in the first half of calendar 2024. Population increases have also contributed to labour force growth outpacing job creation, taking the unemployment rate higher and cooling labour market conditions. The unemployment rate was 6.5% in October, above its pre-pandemic level, but still below its long-run average. Looking ahead, TD Economics expects population growth to slow sharply over the next few years as the federal government reduced its targets for permanent and non-permanent residents. The negative impact of the weaker population inflows on consumer spending and housing activity is likely to be more than offset by the boost to activity from lower interest rates. As such, TD Economics forecasts a modest pickup in overall economic growth in calendar 2025 from this year's estimated tepid rate of around 1%.
As a result of favourable inflation dynamics alongside a softening economy, the Bank of Canada has cut interest rates four times in calendar 2024, taking the overnight rate to 3.75% in October. TD Economics expects the Bank of Canada to continue lowering interest rates over the next year, reaching between 2.25% to 2.50% by the end of calendar 2025. Interest rates differentials between Canada and the U.S. have widened, weakening the Canadian dollar. TD Economics expects the Canadian dollar will trade in the 71 to 73 U.S. cent range over the next few quarters.

Guidance

TD Bank Group Sees Global Economy Slows In 2024; TD Economics Predicts Gradual Interest Rate Cuts Amid Cooling Inflation, Geopolitical Risks Persist. U.S. Experiences Soft Landing With 4.1% Unemployment And Fed Rate Cut To 3.25-3.50% By End Of 2025. Canada Sees Growth Boost From Population Gains, BoC Cuts Rates To 2.25-2.50% In 2025. Canadian Dollar Expected To Trade At $0.71-$0.73 U.S. Cents.

President-elect Donald Trump and Canadian Prime Minister Justin Trudeau&#8216;s meeting last week about planned tariffs on Canada was said to be productive, but it could put several Canadian sectors <a href="https://www.benzinga.com/general/market-summary/24/11/42212364/trumps-tariff-threat-to-canada-may-disrupt-oil-markets-inflate-prices-would-likely-raise-the-price-of-fuels-says-analyst">on high alert.</a>
What Happened: Trudeau flew to Mar-a-Lago to <a href="https://www.benzinga.com/media/24/11/42252924/canadian-pm-justin-trudeau-warns-trumps-25-tariff-plan-will-hurt-americans-at-high-stakes-dinner">meet with Trump</a>, and the two political leaders ate dinner and discussed several key topics before Trump's January inauguration.
The meeting took place after Trump promised to impose 25% tariffs on Canada when he was sworn into office.
Trudeau told Trump the tariffs would hurt Canada's economy, according to sources at the dinner table, <a href="https://www.foxnews.com/politics/trump-suggests-canada-become-51st-state-after-trudeau-said-tariff-would-kill-economy-sources">per </a>Fox News.
The tariffs are being placed on Canada and Mexico due to illegal immigrants and illegal drugs flowing from those countries to the United States.
Sources said Trump was direct regarding his conversation with Trudeau, telling the Canadian leader that his country has failed to protect the border. Trump also wants to eliminate the trade deficit with Canada, estimated to be around $100 billion, according to the sources.
"So your country can't survive unless it's ripping off the US to the tune of $100 billion?" Trump reportedly said to Trudeau about the trade deficit.
The report said that if Canada can't survive with the requirements of protecting the border and fixing the trade deficit, Trump suggested that the neighboring country could become the 51st state instead.
Trudeau and others at the table nervously laughed at the suggestion, with Trump reportedly adding that the title of prime minister is better than governor. As the meeting concluded, talks between Trump and Trudeau were said to have been "very positive."
Did You Know?
<ul>
<li>Congress Is Making Huge Investments. <a href="https://www.benzinga.com/gov-trades/?utm_source=BZprocontent120324">Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool</a></li>
</ul>
Why It's Important: The report said Trump told Trudeau he expected changes to be made ahead of his January inauguration, or the tariffs would be placed on Canada on his first day in office.
A tariff on Canada could impact several sectors, including some of the top exporters to the United States. Crude oil, petroleum gas, vehicles, car parts, machinery, turbines, plastics, pharmaceuticals, metals and agricultural products are among the top exported items from Canada to America, as <a href="https://www.washingtonpost.com/business/2024/11/26/what-us-imports-canada-mexico-china-trump-tariffs/">reported </a>by the Washington Post.
Large Canadian oil companies Suncor Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SU#NYSE">SU</a>), Enbridge (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENB#NYSE">ENB</a>), Canadian Natural Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNQ#NYSE">CNQ</a>) and TC Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRP#NYSE">TRP</a>) could face significant impacts from the tariffs and a potential blow to the sector.
Railway company Canadian Pacific Kansas City Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CP#NYSE">CP</a>) and trucking companies Old Dominion Freight Line (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>) and Knight-Swift Transportation Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNX#NYSE">KNX</a>) could also be impacted by the tariffs and the negative impact on trade between the United States and Canada.
Canadian ETFs like the iShares MSCI Canada Index Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWC#NYSE">EWC</a>), JPMorgan BetaBuilders Canada ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BBCA#BATS">BBCA</a>), Franklin FTSE Canada ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLCA#NYSE">FLCA</a>) and Invesco CurrencyShares Canadian Dollar Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FXC#NYSE">FXC</a>) could also be impacted by the potential trade war.
Canada is the second-largest trade partner with the United States, with $418 billion in goods imported from Canada in 2023 and $354 billion in goods exported to the country.
Goldman Sachs economists predict that Canada's gross domestic product<a href="https://www.benzinga.com/24/12/42291861/trumps-tariff-plan-risks-economic-pain-for-north-america-goldman-sachs-warns" target="_blank" rel="noopener"> could decline</a> by as much as 4% if Trump&#8217;s 25% tariff plan is enacted. The plan could also hurt the U.S. GDP, the analysis said.
"A large increase in tariffs on North American imports would entail significant economic costs, particularly for Canada and Mexico," Goldman Sachs economists said.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/news/global/24/11/42220682/trump-tariffs-on-mexico-could-affect-beer-why-your-modelo-corona-could-cost-more-next-year">Trump Tariffs On Mexico Could Affect Beer: Why Your Modelo, Corona Could Cost More Next Year</a></li>
</ul>
Photo: Shutterstock

Trading Ideas

Trump Told Trudeau Canada Could Dodge Tariffs As 51st State: Which Sectors Could Be Hit

OTTAWA, Nov 29 (Reuters) - Five major Canadian news media companies on Friday filed a legal action against ChatGPT owner OpenAI, accusing it of regularly breaching copyright and online terms of use.
In a statement, Torstar, Postmedia, The Globe and Mail, The Canadian Press, and CBC/Radio-Canada said OpenAI was scraping large swaths of content from media to help develop its products.
&nbsp;

'Five Major Canadian News Media Companies Launch Legal Action Against OpenAI; Complaint By Canadian News Media Companies Says OpenAI Regularly Breaches Copyright And Online Terms Of Use By Scraping Large Swaths Of Content From Canadian Media To Help Develop Products' - Reuters News

Why Canadian Investors Are Favouring Passive Equity And Covered Call ETFs

Canadian trade minister: Tariffs on Canada will hurt Americans

Bank of Canada to end QT in H1, official says

Weekly Commentary: Thoughts Ahead Of Day One

Why Equity Markets Could Still Trend Higher, Despite Sluggish Start

Brad Simpson On Trump, Trade, Looming Tariffs And The Implications For Markets

Annual inflation rate in Canada eases to 1.8% in December

With 25% tariffs on Canada & Mexico looming, DB forecasts effect on U.S. inflation

The U.S. - Nicest House On The Block

Since the elections a little over two and a half months ago, the S&P 500 (SPY) has risen 5.42% through today. That's better than any of the other key country ETFs.

Comments

iShares MSCI Canada Index Fund

Noticias

Últimas noticias sobre iShares MSCI Canada Index Fund (ARCA:EWC)

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL