Amid escalating trade hostilities from Trump’s high‑tariff agenda, Canada is forging a bold new path. Industry Minister Mélanie Joly announced Ottawa’s plan to defend jobs and supply chains by intensifying economic diplomacy and forging trade ties beyond the U.

On the monetary front, Trump’s public feud with Powell continues to escalate, with the president blaming the Fed for slowing economic momentum. The White House is now scrutinizing the central bank’s massive building renovation, citing cost overruns and questioning whether the Fed, which controls its own budget, is exceeding its authority.

Canada faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.

Gold prices rose for a third straight session on Friday, as U.S. President Donald Trump's announcement of new tariffs on Canada and broader tariff threats against other trading partners lifted demand for the safe-haven asset.