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Canada’s trade surplus with the U.S. widened as did its deficit with the rest of the world, underscoring the major role its biggest trading partner and southern neighbor plays in its economy.

Spot container rates for shipping goods to the U.S. from Asia have spiked over the past month as companies look to avoid higher tariffs and pad their inventories ahead of a threatened port strike.

What now seems certain is that Trump — who sees tariffs as a way to rebuild American manufacturing and make other countries hew to his policy priorities — is preparing a major package.

TORONTO — Canadian Prime Minister Justin Trudeau announced his resignation Jan. 6 after nearly a decade in power, bowing to discontent over his leadership and turmoil within his government.

This is the second high-level Canadian mission to Trump’s Mar-a-Lago resort in the past month, after Prime Minister Justin Trudeau met the incoming leader at the end of November.

Trump said on Truth Social that if the European Union does not up its imports, "it is TARIFFS all the way!!!" The U.S. goods and services trade deficit with the EU was $131.3 billion in 2022.

While economists expect the Fed to lower rates on Dec. 18 for a third straight meeting, they are now penciling in just three more quarter-point cuts in 2025.

Charging 25% levies on oil and gas from Canada and Mexico would spike gasoline prices in the Midwest and raise electricity costs along both U.S. coasts.

TORONTO — The premier of Canada’s most populous province said he will cut off energy to the United States if President-elect Donald Trump imposes sweeping tariffs on all Canadian products.

BANGKOK — The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect U.S. clean energy businesses.