Global Markets: Canada retaliating against U.S. tariffs

Mass protests in Belarus, Lebanon

By MarketsFarm

WINNIPEG, Aug. 10 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– Canada will impose C$3.6 billion of tariffs on products from the United States, Deputy Prime Minister Chrystia Freeland announced during a news conference on Friday. The move comes after U.S. President Donald Trump slapped a 10 per cent tariff on aluminum imports from Canada, citing national security concerns. The U.S. items to be levied by Canada include aluminum bars, plates, appliances, bicycles and golf clubs.

– Demonstrations in Minsk, Belarus turned violent Sunday night as police and protestors clashed. Tensions are mounting in the east European country following the re-election of long-time president Alexander Lukashenko. The opposition, led by presidential candidate Svetlana Tsikhanouskaya, assert the election was rigged with Lukashenko receiving 80 per cent of the vote, while political rivals were either jailed or threatened with charges. Lukashenko has ruled Belarus for 26 years.

– Mass demonstrations throughout Lebanon continue following the massive explosion that devastated Beirut last week. There has been widespread anger as the country sinks further into economic turmoil and protestors accuse the Lebanese government of being corrupt. On Monday morning, the justice, information and environment ministers resigned their posts. The death toll from the blast of 2,750 tonnes of ammonium nitrate reached 160 over the weekend with more than 5,000 injured and scores of others still missing.

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