What does the U.S. court ruling on Trump’s tariffs mean for Canada?
BNN Bloomberg
The U.S. Supreme Court struck down U.S. President Donald Trump’s global tariffs Friday, but Canadian experts caution that the rewards might be minimal, and further disruptions are possible.
Trump used the International Emergency Economic Powers Act (IEEPA) to justify imposing sweeping tariffs on several countries including Canada and Mexico. On Friday, the top U.S. court ruled 6-3 that this emergency powers act does not give the president the power to impose what Trump called “reciprocal” tariffs.
The court ruled that this use of the act, first created in 1977, exceeded his authority.
The ruling, which upheld a decision from a lower U.S. court, stemmed from a legal challenge by businesses affected by the IEEPA tariffs as well as 12 U.S. states.
Trump has repeatedly warned that catastrophic consequences would follow if the court ruled this way, The Canadian Press reported. He claimed these consequences could be to U.S. national security, foreign policy, and the American economy.
North of the border, the ruling has Canadians wondering about its impact.
The Alberta government intends to hold a referendum on immigrants’ status, their access to social services and federal influence over provincial laws and services in October this year.
The U.S. International Trade Commission has launched an investigation into rules-of-origin regulations for automobiles under the Canada-U.S.-Mexico agreement on trade.
U.S. stocks fell Thursday, while oil prices rose with worries about a potential conflict between the United States and Iran.
Walmart beats Q4 earnings and posts 27 per cent online growth but keeps cautious full-year outlook amid trade and labour uncertainty.
The federal government is taking another step toward a potential expansion of the Port of Churchill in Manitoba and increased shipping through the Arctic.
GM Canada’s recent layoffs and multimillion dollar funding announcement are all part of a broader strategy to expand operations in its Oshawa plant, the company’s CEO says.
7-Eleven Canada says the big competition it’s facing won’t stop it from growing and evolving its business model.
MTY Food Group Inc. reported a profit in its latest quarter compared with a loss a year earlier as its revenue rose higher.
Teck Resources beat fourth-quarter profit expectations on Thursday, helped by a surge in copper prices and production, as the Canadian miner advanced its proposed merger with Anglo American.
Canadian airlines Air Transat and WestJet both recently announced cutbacks on routes to U.S. cities.
Canada home prices fell to a nearly five-year low in January as sales dropped and new listings rose, according to CREA data.
Mark Zuckerberg and opposing lawyers dueled in a Los Angeles courtroom on Wednesday, where the Meta CEO answered questions about young people’s use of Instagram, his congressional testimony and internal advice he’s received about being “authentic” and not “robotic.”
The grandson of the inventor of Reese’s Peanut Butter Cups has lashed out at The Hershey Co., accusing the candy company of hurting the Reese’s brand by shifting to cheaper ingredients in many products.