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Global Markets: Trade war concerns heating up

WINNIPEG, MB, March 7, 2018 (CNS Canada), Mar 07, 2018 (Commodity News Service Canada, Inc. via COMTEX) --

The following is a glance at the news moving markets in Canada and globally.

-	Concerns over a possible global trade war were at the
forefront of the financial markets Wednesday morning,
following the exit of White House chief economic advisor
Gary Cohn. The former chief operating officer of Goldman
Sachs was a strong supporter of free trade and his exit
should see President Donald Trump move ahead with
proposed tariffs on steel and aluminum.
-	The European Union has already announced plans to launch
proceedings at the World Trade Organisation. Retaliatory
tariffs on U.S. goods, including peanut butter, bourbon,
and motorcycles are also being considered.
-	The Bank of Canada is set to make its latest interest
rate announcement on Wednesday. Most economists expect
the Bank will keep its key overnight rate unchanged at
1.25 per cent, but the accompanying statement will be
followed closely for signs of future moves.

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