Canada GDP contracts 1.6% in Q2, US tariffs weigh on exports, first decline in seven quarters
Friday, 29 August 2025 () Canada's economy experienced a contraction of 1.6% in the second quarter, marking the first GDP decline in seven quarters. This downturn was largely attributed to a sharp 7.5% fall in exports, significantly impacted by tariffs imposed by the US. The decline has fueled speculation that the Bank of Canada might consider cutting interest rates in September.
President Trump has imposed 50% punitive tariffs on India, accusing New Delhi of “funding Russia’s war machine” through increased oil imports from Moscow. The move threatens $48.2 billion worth of Indian exports, with SBI warning of a 0.3–0.6% GDP hit. Prime Minister Narendra Modi has refused...
Israel is furious. Israeli Foreign Minister Gideon Saar has condemned the recent moves by the UK, France, and Canada to recognize a Palestinian state — calling it a “pure prize for terror” and a..
U.S. President Donald Trump has ignited a global trade storm by raising tariffs on Canadian imports to 35%, accusing Ottawa of failing to curb fentanyl and drug flows into America. Prime Minister Mark..
Trump announces new tariffs across the globe, delays deadline by seven days
Numerous countries around the world are facing the prospect of new tariffs on their exports to the United States on 7..
Credit: euronews (in English) Duration: 01:05Published
Friday, 29 August 2025 ()
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