Global Markets: Trump defiant against critics of steel and aluminum tariffs

By Commodity News Service Canada
WINNIPEG, Mar. 2, 2018 (CNS) – The following is a glance at the
news moving markets in Canada and globally.
The pace of economic growth in Canada was less than
expected in the fourth quarter, according to new data from
Statistics Canada released Friday. Canada’s gross domestic
product grew by an annualized 1.7 per cent in the final quarter
of 2017, short of economists’ forecasts of two per cent. It was
supported by the housing sector ahead of tighter mortgage

regulations and made for a quiet end to a strong year.
U.S. President Donald Trump is remaining defiant as global
criticism builds about his plan to impose tariffs on imports of
steel and aluminum. Trump tweeted Friday morning that trade wars
are good and easy to win. The European Union has pledged firm
counter-measures, China is urging Trump to show restraint and
Canada, the biggest supplier of steel and aluminum to the U.S.,
has said it will retaliate if it is hit by U.S. duties.
Brazilian farm exports may benefit from rising trade
tensions between the U.S. and China, according to an official
from the Mato Grosso state, Brazil’s largest grain growing
region. The current situation between the U.S. and China could
give Brazil the opportunity to expand its commercial ties with
China through Brazil’s soy and corn crops.

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