Money: TSX ends worst month of 2019 lower amid new U.S. tariffs on Mexican imports - - PressFrom - Canada
  •   
  •   
  •   

MoneyTSX ends worst month of 2019 lower amid new U.S. tariffs on Mexican imports

23:41  31 may  2019
23:41  31 may  2019 Source:   msn.com

Canada-U.S. breakthrough on cheap foreign steel could herald end of tariffs

Canada-U.S. breakthrough on cheap foreign steel could herald end of tariffs Canada-U.S. breakthrough on cheap foreign steel could herald end of tariffs

TORONTO — Canada' s main stock index ended its worst month of the year by falling in the wake of U . S . plans to impose tariffs on Mexican imports . The S &P/ TSX composite index closed down 51.75 points to 16,037.49. In New York, the Dow Jones industrial average was down 354.84 points at 24

TORONTO - Canada’ s main stock index ended its worst month of the year by falling on growing concerns about an economic slowdown amid U . S . plans to impose tariffs on Mexican imports . The S &P/ TSX composite index closed down 51.75 points on Friday to 16,037.49. That’ s 1.2 per cent down

TSX ends worst month of 2019 lower amid new U.S. tariffs on Mexican imports© Provided by Canadian Press Enterprises Inc

TORONTO — Canada's main stock index ended its worst month of the year by falling in the wake of U.S. plans to impose tariffs on Mexican imports.

The S&P/TSX composite index closed down 51.75 points to 16,037.49.

In New York, the Dow Jones industrial average was down 354.84 points at 24,815.04. The S&P 500 index was down 36.80 points at 2,752.06, while the Nasdaq composite was down 114.57 points at 7,453.15.

The Canadian dollar traded at an average of 73.93 cents US compared with an average of 74.07 cents US on Thursday.

The July crude contract was down US$3.09 at US$53.50 per barrel and the July natural gas contract was down 9.3 cents at US$2.45 per mmBTU.

Businesses, workers hope for return to normal after U.S. tariffs lifted

Businesses, workers hope for return to normal after U.S. tariffs lifted Workers and businesses in the Ottawa area negatively affected by the introduction of steel and aluminum tariffs last year are pleased they've been eliminated — but wonder how long it'll take to see any changes. Last June, the United States imposed tariffs of 25 per cent on imports of steel and 10 per cent on aluminum, citing national security, which was followed by Canada imposing retaliatory tariffs on steel, aluminum and other consumer products. The extra charges disrupted supply chains and added extra costs for businesses whose products contained significant amounts of those two metals — including Campbell Pools in Orléans.

TORONTO -- Canada' s main stock index ended its worst month of the year by falling on growing concerns about an economic slowdown amid U . S . plans to impose tariffs on Mexican imports . The S &P/ TSX composite index closed down 51.75 points on Friday to 16,037.49.

Stocks fell sharply and hopes for swift passage of a new NAFTA deal dimmed after U . S . President Donald Trump announced new tariffs that will apply to all imports from Mexico , starting June 10. In tweets overnight, Trump said he is slapping a five per cent tariff on all Mexican imports until it does

The August gold contract was up US$18.70 at US$1,311.10 an ounce and the July copper contract was down 1.4 cents at US$2.64 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

Are you on LinkedIn? Follow Microsoft News Canada and keep up with the latest industry news, career, jobs and tech updates. Connect with us now!

Read more

Goldman Sachs is predicting an escalation of global trade wars.
Goldman Sachs has revised up its expectations of an escalation to U.S. trade wars with China and Mexico. There is now a 60% chance of the U.S. placing a new 10% tariff on the final $300 billion of Chinese imports, a note from the Wall Street investment bank said Monday. This is an increase from a previous estimate of 40%. Last month, U.S. President Donald Trump announced that tariffs on $200 billion worth of Chinese goods would increase from 10% to 25%. Washington has now begun looking into whether $300 billion of other Chinese imports will be subject to tariffs.

—   Share news in the SOC. Networks

Topical videos:

usr: 0
This is interesting!