Wall Street Breakfast Canada ready to counter Trump tariffs
Jan 13, 2025
Canada is poised to unleash counter-tariffs in response to potential trade actions from Trump. Meanwhile, Europe’s largest pension fund has sold its shares in Tesla following concerns over Musk's compensation. In another twist, the White House has postponed a decision on Nippon Steel's pursuit of U.S. Steel amid market uncertainties. Add to this the shifting landscape with global selloffs prompting advice to buy bonds, and the looming TikTok ban sparks Supreme Court debates on free speech.
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Canada's Response to Potential U.S. Tariffs
- Canada is prepared to retaliate with counter-tariffs if the U.S. imposes tariffs on Canadian imports.
- The U.S. and Canada share a substantial trade relationship, with Canada being the largest importer of U.S. goods.
Tesla Loses Major Investor
- Europe's largest pension fund, ABP, sold its Tesla stake due to concerns over Elon Musk's pay package.
- ABP was also unhappy with reports of poor working conditions at Tesla.
Nippon Steel-U.S. Steel Deal Extended
- The Biden administration delayed the order for Nippon Steel to abandon its takeover of U.S. Steel.
- The companies involved look forward to completing the transaction.