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Global Markets: Trump tax plan expected today

By Commodity News Service Canada

Sept. 27 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Canadian Finance Minister Bill Morneau said he’s confident the Canadian economy can grow even with a stronger currency. The Canadian dollar has risen by eight percent compared to the U.S. dollar this year. At a conference in New York, Morneau said the dollar’s current level showed strength in the economy.

– United States President Donald Trump is expected to offer a new tax plan today, one that cuts tax rates for businesses and wealthy Americans and increases the standard deduction for all income tax payers.

– China issued warnings to Taiwan that its claims for independence can never be realized and it should stop action toward formal declarations. Taiwan, a self-ruled island, was established by Chinese Nationalists who fled China following the civil war, which ended in 1949. Newly appointed Taiwan Premier William Lai said yesterday that Taiwan was already an independent country called the Republic of China.

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