Global markets: US looking to take trade action

By Commodity News Service Canada

WINNIPEG, April 25 – The following is a glance at the news moving markets globally.

– US officials have said the country will be taking retaliatory action against Canada, moving to impose a 20 per cent tariff on softwood lumber, reports say.

The tariff, if imposed, is expected to be applied retroactively, according to comments from US Commerce Secretary Wilbur Ross.

– Canadian direct investment abroad rose 1.4 per cent to C$1,049.6 billion in 2016. Following several years of strong growth, the stock of Canadian direct investment abroad increased at its slowest pace in six years in 2016, largely as a result of an appreciating Canadian dollar which moderated strong investment activity of C$59.1 billion over the course of the year, Statistics Canada said in a report on Tuesday.

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