Canada has announced it will impose tariffs equivalent to those recently set by the United States, following the breakdown of trade negotiations. This comes after the U.S. declared it would apply a 50% tariff on approximately $20 billion worth of Canadian imports, including goods such as wine, dairy, and cement. The escalation in trade tensions has heightened concerns over cross-border trade, with Canada responding in kind to the U.S. measures. This trade war has also boosted prediction market expectations for gold prices to rise, with the likelihood of gold reaching $4,700 in August 2026 now appearing more probable.
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