India, July 11 -- Canadian stocks turned lower on Friday as US President Donald Trump suddenly intensified his tariff pressure on Canada.
After opening below yesterday's record high levels, the benchmark S&P/TSX Composite Index moved lower and after swinging until post noon, managed to settle at 27,023.25, down by 59.05 (or 0.22 %).
Yesterday, the index closed at a new record high of 27,082.30.
Blaming Canada for failing to check illicit drug entry via Canadian borders into the US, Trump announced plans to impose a 35% levy on imports from Canada starting next month. It is an increase from the current 25% imposed in March. He also added that any counter-tariff by Canada will be met by re-imposing the same number on Canada over and top of...