White House to announce tariffs, raising market concerns

The White House plans to announce global reciprocal tariffs on April 2nd, raising concerns about market impacts. The Bank of Canada recently released survey data indicating 40% of businesses may cut jobs and 48% plan to reduce capital spending. Despite these risks, there is optimism for the Canadian dollar, as it remains stable amid tariff discussions. Economic Advisor Kevin Hassett suggested it is a good time to be positive about Canada and Mexico. Congress has been quiet on these issues, likely waiting until the end of the month. There are indications that negotiations for the USMCA may be requested sooner, but Canada faces challenges with an upcoming election.