Trump expected to ease auto tariffs, positive for US car manufacturers; Canadian dollar wobbles on election

From Investing.com: 2025-04-29 06:24:00

Trump is expected to ease tariff pressure on US car manufacturers, providing relief for the struggling industry. The announcement is set to be made later today in Michigan, with exemptions likely for imported auto parts and vehicles from additional duties.

US stock futures and the dollar edge higher as investors await key economic data and Trump’s tariff announcement. Trade uncertainty with China continues to weigh on markets, with a focus on negotiations with other countries. European indices follow Wall Street’s lead, but market recovery may be losing momentum.

The Canadian dollar initially spikes on Mark Carney’s election win, but falls back as a minority government seems likely. Carney’s hopes to challenge Trump’s tariff policies may be hindered by the election outcome. Gold prices slide as the market remains uncertain, with the precious metal consolidating after a recent record run.



Read more at Investing.com: Auto Tariff Relief Keeps Risk Appetite Alive; Loonie Wobbles on Carney Win