Powell spoke at a volatile time, with stock markets and bond yields both declining in the wake of President Donald Trump's whipsaw announcements of steep import tariffs on major trading partners Mexico and Canada, followed by delays in implementing them. Trump has also doubled tariffs on imports from China.
America is feeling uneasy about the Trump administration’s rapid-fire trade policy changes, but Federal Reserve Chair Jerome Powell said Friday he’s not worried.
OTTAWA (Reuters) -Canada on Friday unveiled billions of dollars in aid and other forms of support to businesses and people expected to be directly affected by U.S. tariffs. Canada relies on the United States for 75% of its exports and a third of all imports. U.S. President Donald Trump's administration imposed 25% tariffs on most imports from Canada and Mexico earlier this week, before announcing a suspension of the charges until April 2 on goods covered by the U.S.-Mexico-Canada Agreement on trade.