TORONTO — The loonie fell against the U.S. dollar in late-morning trading as the U.S. imposed 50 per cent tariffs on roughly $28 billion worth of Canadian goods and President Donald Trump threatened even more.
The latest round of tariffs came after trade talks between Canada and the U.S. broke down on Friday night followed by fresh threats of tariff hikes on vehicles, auto parts and steel by Trump today.
The Canadian dollar traded for 72.27 cents US compared with 72.67 cents US on Friday.
The S&P/TSX composite index was up 39.91 points at 36,660.14.
In New York, the Dow Jones industrial average was up 79.48 points at 53,356.49. The S&P 500 index was down 31.84 points at 7,642.53, while the Nasdaq composite was down 191.35 points at 25,989.11.
The October crude oil contract was down US$2.16 at US$84.90 per barrel, while the December gold contract was up US$51.40 at US$4,732.00 an ounce.
This report by The Canadian Press was first published Aug. 24, 2026.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press
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