Tag: UPDATES

Feb. 3, 8 a.m. ESTOntario Premier Doug Ford said the province, which includes Toronto, will ban all U.S. companies from receiving government contracts with the province, saying those companies “only have President Trump to blame”—and canceled the province’s contract with Elon Musk-led satellite internet company Starlink, writing, “Ontario won’t do business with people hellbent on destroying our economy.”

Feb. 3, 6:50 a.m. ESTWith a threat of tariffs on European imports to the U.S. looming, markets in the continent were also hit with by a selloff with the Euro STOXX 50 Index sliding 1.6% while the London Stock Exchange’s FTSE 100 Index fell 1.2%

Feb. 3, 6:30 a.m ESTThe U.S. Dollar Index—which measures the U.S. currency against a basket of six other major currencies—rose to a two-year high of 109.45 on Monday morning, up nearly 1%.

Feb. 3, 6:15 a.m. ESTThe cryptocurrency market also appears to have been rattled by the fears of a trade war with Bitcoin’s price dropping more than 3.6% in the past 24 hours to $95,509.

Ether, which is the world’s second most valuable crypto token by market cap, was hit even harder as it price has crashed more than 15% in the previous 24 hours to around $2610.

The president’s own meme crypto token $TRUMP (Official Trump) also took a hit, as its price slid more than 13.5% in the previous 24 hours to $17.80. Unlike other major crypto tokens, however, $TRUMP has been on a downward slide since its explosive launch and had shed more than 30% of its value just in the last week.

Feb. 3, 6 a.m. ESTThe U.S. stock futures slumped early on Monday as global markets braced for the fallout of President Donald Trump’s decision to impose sweeping tariffs on imports from Canada, Mexico and China.

As of early Monday morning Dow Futures was down to 44,113, falling 1.3%, while the tech centric NASDAQ Futures saw an even sharper slump of 1.6% to 21,227. S&P 500 Futures were also hit by the selloff, dropping 1.4% to 5,980.

Feb 3, 5 a.m. ESTMajor Asian stock indices were also hit by a selloff amid trade war concerns with Japan’s Nikkei 225 index falling 2.66%, Australia’s S&P/ASX 200 dropping 1.79%, South Korea’s KOSPI index down 2.52% and India’s BSE Sensex down 0.41%.

In China, the Shanghai Stock Exchange’s Composite Index closed relatively flat, only 0.06% in the red, while the Shenzhen-based SZSE Component Index—which focusses on tech companies and small cap private enterprises—took a bigger hit and dropped 1.33%.

Feb. 2, 2:53 p.m. ESTMexican President Claudia Sheinbaum issued a video message on X announcing the country will come out with more details Monday morning on its countermeasures against the U.S. tariffs, saying the country will “act with a cool head and love for the people” and arguing Trump’s claims the Mexican government is allied with criminal drug groups is “terribly irresponsible,” according to translations by Bloomberg and The New York Times.

Feb. 2, 2 p.m. ESTTrump’s border czar Tom Homan told the Times in an interview that Canada has “taken steps” to address Trump’s concerns about immigration and drug trafficking, “but they haven’t taken enough steps,” adding that while Canada is “improving” its border security, Trump “doesn’t feel like they’ve done enough, and that’ll be his call.”

Feb. 2, 1 p.m. ESTThe Canadian government unveiled the full list of U.S. imports that the country will levy 25% tariffs on as part of its retaliatory measures against the U.S., which will apply to $30 billion worth of goods to start out with, including numerous food items, plastics, rubber, luggage, lumber, clothing, business supplies, glassware, appliances, furniture, cosmetics and more.

Feb. 2, 10:30 a.m. ESTHomeland Security Secretary Kristi Noem acknowledged on “Meet the Press” that Trump’s tariffs could raise prices but said the blame would fall on other countries for not following Trump’s demands, rather than the president, encouraging other countries to “get on board and to make sure that they’re not pushing up prices” and claiming “if prices go up, it’s because of other people’s reactions to America’s laws.”

Feb. 2, 9 a.m. ESTCanadian Ambassador Kristen Hillman told ABC News Canadians are “perplexed” and “confused” by Trump’s tariffs on the nation’s imports and argued it’s “hard to know what more we can do” to prevent the tariffs since the Canadian government has already been “leaning in hard” to appease Trump—but noted Canada does not intend to back down from its plan for retaliatory tariffs, as Canadians “are going to expect that our government stands firm and stands up for itself.”

Feb. 2, 8:30 a.m. ESTDoug Ford, the premier of Canada’s Ontario province, said on X the region’s sole liquor wholesaler will remove American alcohol from its catalogs so that stores and restaurants in Ontario cannot stock any U.S. liquors—it follows similar moves from Nova Scotia Premier Tim Houston and British Columbia Premier David Eby, who banned his province’s Liquor Distribution Branch from buying American alcohol from “red states.”

Feb. 2, 8:09 a.m. ESTThe president defended his decision, writing on Truth Social, “WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”

Feb. 1Canada and Mexico both levied retaliatory tariffs on U.S. imports in response to Trump’s directive, while China said it would file a lawsuit with the World Trade Organization and take “countermeasures” in response to the move.

Feb. 1Trump imposed 25% tariffs on imported goods from Canada and Mexico—other than energy from Canada, which will be taxed at 10%—and an additional 10% tariff on goods from China, which he claimed was to hold the countries “accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.”

Feb. 3, 8 a.m. ESTOntario Premier Doug Ford said the province, which includes Toronto, will ban all U.S. companies from receiving government contracts with the province, saying those companies “only have President Trump to blame”—and canceled the province’s contract with Elon Musk-led satellite internet company Starlink, writing, “Ontario won’t do business with people hellbent on destroying our economy.”

Feb. 3, 6:50 a.m. ESTWith a threat of tariffs on European imports to the U.S. looming, markets in the continent were also hit with by a selloff with the Euro STOXX 50 Index sliding 1.6% while the London Stock Exchange’s FTSE 100 Index fell 1.2%

Feb. 3, 6:30 a.m ESTThe U.S. Dollar Index—which measures the U.S. currency against a basket of six other major currencies—rose to a two-year high of 109.45 on Monday morning, up nearly 1%.

Feb. 3, 6:15 a.m. ESTThe cryptocurrency market also appears to have been rattled by the fears of a trade war with Bitcoin’s price dropping more than 3.6% in the past 24 hours to $95,509.

Ether, which is the world’s second most valuable crypto token by market cap, was hit even harder as it price has crashed more than 15% in the previous 24 hours to around $2610.

The president’s own meme crypto token $TRUMP (Official Trump) also took a hit, as its price slid more than 13.5% in the previous 24 hours to $17.80. Unlike other major crypto tokens, however, $TRUMP has been on a downward slide since its explosive launch and had shed more than 30% of its value just in the last week.

Feb. 3, 6 a.m. ESTThe U.S. stock futures slumped early on Monday as global markets braced for the fallout of President Donald Trump’s decision to impose sweeping tariffs on imports from Canada, Mexico and China.

As of early Monday morning Dow Futures was down to 44,113, falling 1.3%, while the tech centric NASDAQ Futures saw an even sharper slump of 1.6% to 21,227. S&P 500 Futures were also hit by the selloff, dropping 1.4% to 5,980.

Feb 3, 5 a.m. ESTMajor Asian stock indices were also hit by a selloff amid trade war concerns with Japan’s Nikkei 225 index falling 2.66%, Australia’s S&P/ASX 200 dropping 1.79%, South Korea’s KOSPI index down 2.52% and India’s BSE Sensex down 0.41%.

In China, the Shanghai Stock Exchange’s Composite Index closed relatively flat, only 0.06% in the red, while the Shenzhen-based SZSE Component Index—which focusses on tech companies and small cap private enterprises—took a bigger hit and dropped 1.33%.

Feb. 2, 2:53 p.m. ESTMexican President Claudia Sheinbaum issued a video message on X announcing the country will come out with more details Monday morning on its countermeasures against the U.S. tariffs, saying the country will “act with a cool head and love for the people” and arguing Trump’s claims the Mexican government is allied with criminal drug groups is “terribly irresponsible,” according to translations by Bloomberg and The New York Times.

Feb. 2, 2 p.m. ESTTrump’s border czar Tom Homan told the Times in an interview that Canada has “taken steps” to address Trump’s concerns about immigration and drug trafficking, “but they haven’t taken enough steps,” adding that while Canada is “improving” its border security, Trump “doesn’t feel like they’ve done enough, and that’ll be his call.”

Feb. 2, 1 p.m. ESTThe Canadian government unveiled the full list of U.S. imports that the country will levy 25% tariffs on as part of its retaliatory measures against the U.S., which will apply to $30 billion worth of goods to start out with, including numerous food items, plastics, rubber, luggage, lumber, clothing, business supplies, glassware, appliances, furniture, cosmetics and more.

Feb. 2, 10:30 a.m. ESTHomeland Security Secretary Kristi Noem acknowledged on “Meet the Press” that Trump’s tariffs could raise prices but said the blame would fall on other countries for not following Trump’s demands, rather than the president, encouraging other countries to “get on board and to make sure that they’re not pushing up prices” and claiming “if prices go up, it’s because of other people’s reactions to America’s laws.”

Feb. 2, 9 a.m. ESTCanadian Ambassador Kristen Hillman told ABC News Canadians are “perplexed” and “confused” by Trump’s tariffs on the nation’s imports and argued it’s “hard to know what more we can do” to prevent the tariffs since the Canadian government has already been “leaning in hard” to appease Trump—but noted Canada does not intend to back down from its plan for retaliatory tariffs, as Canadians “are going to expect that our government stands firm and stands up for itself.”

Feb. 2, 8:30 a.m. ESTDoug Ford, the premier of Canada’s Ontario province, said on X the region’s sole liquor wholesaler will remove American alcohol from its catalogs so that stores and restaurants in Ontario cannot stock any U.S. liquors—it follows similar moves from Nova Scotia Premier Tim Houston and British Columbia Premier David Eby, who banned his province’s Liquor Distribution Branch from buying American alcohol from “red states.”

Feb. 2, 8:09 a.m. ESTThe president defended his decision, writing on Truth Social, “WILL THERE BE SOME PAIN? YES, MAYBE (AND MAYBE NOT!). BUT WE WILL MAKE AMERICA GREAT AGAIN, AND IT WILL ALL BE WORTH THE PRICE THAT MUST BE PAID.”

Feb. 1Canada and Mexico both levied retaliatory tariffs on U.S. imports in response to Trump’s directive, while China said it would file a lawsuit with the World Trade Organization and take “countermeasures” in response to the move.

Feb. 1Trump imposed 25% tariffs on imported goods from Canada and Mexico—other than energy from Canada, which will be taxed at 10%—and an additional 10% tariff on goods from China, which he claimed was to hold the countries “accountable to their promises of halting illegal immigration and stopping poisonous fentanyl and other drugs from flowing into our country.”