Carney says Canada accounts for only 1% of U.S. fentanyl imports
The Prime Minister said that Mark Carney said Canada was “disappointed” with the 35% tariff on Canadian goods, and the Canadian government said the Canadian government “will take action to project Canadian jobs, invest in our industrial competitiveness, buy Canada and diversity in our export markets”.
Carney said some of the economy in Canada, including wood, steel, aluminum and automobiles, were affected by U.S. tariffs, but Canada is committed to the deal despite a huge tax on American Federation of Canadian goods outside the U.S.-Mexico Canada trade agreement.
Carney said in his statement that the U.S. proved its 35% interest rate in the cross-border flow of fentanyl, “although Canada accounts for only 1% of U.S. fentanyl imports and has been working to further reduce these volumes.”
We will continue to work with the United States to stop the scourge of fentanyl and save lives in both of our countries.
Carney said Canada is also internally committed to “cutting trade barriers to build a Canadian economy.”
Canadians will be our own best clients and create more high-paying careers at home as we strengthen and diversify our trading partnerships around the world.
By building construction with Canadian workers and using Canadian resources to benefit all Canadians, we can take more than any foreign government can.
This is Carney’s statement Bruceky:
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Key Events
European stock markets fall
Stock markets across Europe have fallen Donald Trump stepped up his trade war last night.
Germany’s Dax At the beginning of Frankfurt trading, the index fell 1.1%, while France’s CAC Falling almost 1% in Spain IBEX Loss 0.6% – even though Europe reached a trade deal with the United States earlier this week.
That, London stocks fell 0.5% (Please see here) shows that Trump’s tariffs will have an impact on the global economy, thereby weakening trade growth.
FTSE 100 opens low
London’s stock market has opened in red as the city digests Donald Trump’s tariffs on trading partners.
this ftse 100 The blue-chip index fell by more than 0.5%, down 50 points to 9082 points.
It was a rather modest decline, yesterday taking “Footsie” off record-breaking heights after earlier losses in the Asia-Pacific market.
Tony Sterilemarket analyst IG,explain:
The market’s response to the newly announced tariffs is relatively soft, largely due to the recent mitigation of its impact with the EU, Japan and South Korea + other trade agreements.
As President Trump pointed out, Mexico’s 90-day tariff probation and positive progress in U.S.-China trade negotiations have further mitigated the blow.
In the money market, the Swiss franc is Donald Trump Imports from Switzerland are subject to a 39% tariff.
The Swiss franc fell 0.15% to 0.813 per dollar.
Trump tariffs: What analysts say
Financial experts are digesting the new tariff rates announced by the United States last night.
Jim ReidMarketing Strategist Germany bankIt points out that the effective U.S. tariff rate is the highest since the 1930s, when the protectionist Smoot-Hawley tariff bill was in place, exacerbating the Great Depression.
Reid explained:
Welcome to August, which is from the deadline for adoption now to end relevant tariff agreements with the United States. Most of the remarks and negotiations are behind us now, and now we will see how rubber hits the road. U.S. tariff rates have been slightly above 2% since the beginning of the year.. That’s theirs The highest level since the 1930s But that hasn’t stopped U.S. stocks from sprinting this year and other markets from becoming stronger.
Michael Brownsenior research strategist of brokerage black pepperpointed out Donald Trump There have been no acquisition of many trade agreements in the past few months:
Besides the 90 transactions in 90 days the administrator is looking for, what we actually ended up with was 8 transactions in 120 days, which is the most vague details left. Obviously, this is what is called “winning”.
Switzerland “continues to fight for negotiating solutions”
Swiss The government says it is “very regretful” White House Announces 39% Tariff on Swiss Imports Go to the United States.
“Switzerland has been and continues to maintain contact with responsible U.S. authorities, adding that it “continues to work to find a negotiated solution,” the Swiss Federal Council said in an article on X.
The Federal Commission expressed regret that despite the progress made in bilateral talks and Switzerland’s very constructive position from the outset, the United States intends to impose additional unilateral tariffs on Swiss imports.
– German Conseil Fédéral Consiglio Federale (@br_sprecher) August 1, 2025
The government said it would analyze the new situation and decide how to proceed.
The worst week for the Asia-Pacific stock market since April (last time) Donald Trump A series of tariffs were announced).
MSCI Reuters reported that the broadest index of Asia-Pacific stocks outside Japan fell 1.1% today. This will be the biggest fall since the end of April 11 after the “Liberation Day” tariff announcement in early April.
Most markets in Asia today are still showing losses.
South Korea kospi Leader fallen 4% after the Seoul government formulated plans to increase taxes for investors and companies.
China’s CSI300 The share index fell 0.75%, although U.S. Treasury Secretary Scott Bessent said yesterday Washington and Beijing “have a deal’s accomplishment”, although some details still need to be addressed.
Norway remains targeting U.S. trade agreement
Throughout Europe, politicians are digesting the latest escalation of Donald Trump’s trade war.
Norwegian Minister of Trade and Industry Cecily Myrseth Tell the public broadcaster NRK Norway continued to seek a trade deal with the United States this morning after the White House announced a 15% tariff on exports.
Carney says Canada accounts for only 1% of U.S. fentanyl imports
The Prime Minister said that Mark Carney said Canada was “disappointed” with the 35% tariff on Canadian goods, and the Canadian government said the Canadian government “will take action to project Canadian jobs, invest in our industrial competitiveness, buy Canada and diversity in our export markets”.
Carney said some of the economy in Canada, including wood, steel, aluminum and automobiles, were affected by U.S. tariffs, but Canada is committed to the deal despite a huge tax on American Federation of Canadian goods outside the U.S.-Mexico Canada trade agreement.
Carney said in his statement that the U.S. proved its 35% interest rate in the cross-border flow of fentanyl, “although Canada accounts for only 1% of U.S. fentanyl imports and has been working to further reduce these volumes.”
We will continue to work with the United States to stop the scourge of fentanyl and save lives in both of our countries.
Carney said Canada is also internally committed to “cutting trade barriers to build a Canadian economy.”
Canadians will be our own best clients and create more high-paying careers at home as we strengthen and diversify our trading partnerships around the world.
By building construction with Canadian workers and using Canadian resources to benefit all Canadians, we can take more than any foreign government can.
This is Carney’s statement Bruceky:
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This article includes hosted content embed.bsky.app. We ask you to obtain your permission before loading any content, as providers may use cookies and other technologies. To view this content, Click “Allow and continue”.
Mark Carney
Canadian Prime Minister Mark Carney said he is Donald Trump Increase tariffs from 25% to 35% Canadian goods outside the United States-Mexico-Canada Trade Agreement.
A statement about Carney later.
Just to review Donald Trump signed an executive order on Thursday that will take effect within seven days, which will create new tariffs on a large number of U.S. trading partners – The next step in his trade agenda will test the global economy and alliances.
The Associated Press reported that the order was issued shortly after 7 p.m. and after a series of activities related to tariffs in recent days, the White House announced its agreement with various countries and groups on August 1 ahead of the deadline imposed by Trump.
Also on Thursday, Trump announced that he would hold trade talks with Mexico for 90 days.
However, the vast majority of countries are continuing to face uncertainty ahead of the upcoming deadline. Although a few trade deals are also involved, many details remain hazy – businesses and manufacturers around the world are working to increase operating costs and potential price increases.
In Canada, the mayor of Ontario City said he was rebelling against the 35% tariff Donald Trump Has imposed the country and called on people to “buy nothing” from the United States.
Carolyn ParrishMayor of Mississauga near Toronto Posted on X:
Adult in Canada! As of midnight tonight, Trump imposed a 35% tariff. It’s time to grow up! Fade the hatch and expand it to new markets. Trade the West. Eliminate restrictions in our own country. Perfect our own oil! I bought nothing from the United States. Thank you Trump for his new tomorrow!
Trump on Thursday Tariffs increased from 25% to 35% On all uncovered products, the United States-Mexico Trade Agreement.
As Earlier reportsThe president told NBC News on Thursday Mark Carney Later in the evening.
Most Asian currencies fell to multiple-month lows on Friday, South Korea won the victory, and Malaysia’s ringgit leadership fellas investors flee more risky regional assets after the U.S. imposes new tariffs.
Winning the sell-off was the first to bear the brunt of the sell-off, dropping the 0.62% price to a two-month low of $1,400.6, while the ringgit lowered 0.5% to its weakest level since June 23, Reuters reported.
Based on the extensive retreat extending throughout the region, the Philippine peso, Taiwan dollar and Thai baht all fell by more than 0.3% as the impact of tariffs flows in Asian markets.
So far this week, MSCI emerging market currencies have fallen by more than 1% and snapped up from a six-month rally in July. It fell 0.3% on Friday.
Malaysia says its revised U.S. tariff rate has reached a situation where it does not harm national sovereignty Rights are unwavering on various “red lines” issues.
Reuters reported that the Malaysian Trade Ministry said on Friday that the positive outcome of U.S. tariff negotiations was continued to participate between the two governments, a major achievement in Malaysia’s thorough and organized negotiation process.
The United States imposes a 19% tariff on Malaysia. The department said:
We will continue to work closely with relevant government departments to find ways to mitigate the impact of tariffs on Malaysian exports.
Health & Wellness Contributor
A wellness enthusiast and certified nutrition advisor, Meera covers everything from healthy living tips to medical breakthroughs. Her articles aim to inform and inspire readers to live better every day.
