Global Markets: U.S. steel and aluminum tariffs postponed

By Commodity News Service Canada

WINNIPEG, May 1 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– U.S. tariffs on steel and aluminum from Canada, the European Union, and Mexico will be postponed until June 1, with permanent exemptions for Argentina, Australia, and Brazil. The tariffs had been set to go into place on May 1.

– Canada’s gross domestic product increased by 0.4 per cent in February, according to a report from Statistics Canada. The increase beat expectations coming right on the heels of a 0.1 per cent decline in January. A return to normal in the oil and auto production sectors, following shutdowns in January, accounted for some of the recovery, said analysts.

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