Glacier FarmMedia COVID-19 & the Farm

Global Markets: U.S. Imposes Tariffs On China

By Commodity News Service Canada

WINNIPEG, June 15 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– United States President Donald Trump announced Friday that tariffs on US$50 billion worth of Chinese imports would now be imposed. China has vowed to retaliate, and with the U.S. also threating more tariffs of its own.

– The discovery of unapproved genetically modified Roundup Ready wheat in Alberta is already having an impact on exports, with Japan announcing it would no longer be buying Canadian wheat until it can confirm shipments contain no trace GMOs.

– Canadian manufacturing sales fell 1.3 per cent in April, to C$56.2 billion, according to a report from Statistics Canada. The decline came following two consecutive months of increases.

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