The U.S. government has announced new tariffs on certain Canadian goods, including wine and cement, as a response to perceived trade discrimination against American products. These tariffs, which will take effect 30 days after President Trump signs the proclamations, are part of a broader strategy that has seen the administration frequently resort to tariffs as a solution to trade disputes.
While the tariffs did not significantly affect market performance, the ongoing military conflict with Iran has raised concerns, leading to a decline in U.S. stock indexes. Oil prices initially rose due to geopolitical tensions but later eased as Asian markets opened.
In the tech sector, AMD's stock rose over 4% following the announcement of its new AI system, Helios, which is set to compete with Nvidia's offerings. Microsoft, a customer of AMD's Helios, also saw its shares increase by more than 1%. Alphabet's stock climbed 1.51% after reports of its development of a new server chip aimed at improving efficiency for AI models.
Overall, while tariffs may strain U.S.-Canada relations, the tech sector continues to show resilience amid these challenges