Trade Tensions Escalate with New Tariffs and Aid Cuts

Recent U.S. tariffs on global aluminum and steel imports have prompted Canada and the EU to announce retaliatory duties, impacting billions in U.S. trade, with the UK and Australia seeking negotiations for exemptions. Air Transat is monitoring the potential impact of these tariffs on its operations, particularly concerning costs linked to the devaluation of the Canadian dollar. China's imposition of 100 percent tariffs on Canadian canola adds pressure on Canada's agricultural sector, further complicating the trade landscape. Additionally, the freeze on U.S. foreign aid, including cuts to PEPFAR, is disrupting critical HIV prevention services in Uganda as clinics face closure due to funding uncertainties.