Liberation Day Aftermath: Trade Wars, Oil Prices, and Canada's Election

This week on the podcast, Jackie and Peter discuss the significant volatility in the financial markets due to the escalating global trade war unleashed by President Trump’s “Liberation Day” on April 2nd. Economists and banks are sounding the alarm about the increased risk of a global recession. At the same time, oil prices have fallen by about $US 10/B due to fears of a recession and news that OPEC+ is adding more supply than expected into the market. In Canada, the uncertainty is further compounded by the upcoming federal election scheduled for April 28th, 2025.

Content referenced in this podcast:

• Financial Times, “In charts: winners and losers from Trump’s new tariffs” (April 4, 2025)
• BNN Bloomberg, Trump’s tariffs to send U.S. into recession: JP Morgan (April 6, 2025)
• Polymarket, “ US recession in 2025?”
• Reuters, “OPEC+ unexpectedly speeds up oil output hikes, oil drops” (April 3, 2025)
• 338Canada, Canadian Federal Election Polling

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