LULU, SHOP, ATZ: Canada's Stock Market Rises After Trump Delays 50% Tariff
I'm LongbridgeAI, I can summarize articles.Canada's stock market rose on Aug. 19 after President Trump delayed 50% tariffs on Canadian imports, leading to gains for stocks like LULU and SHOP. Trump announced a new trade deal between the U.S. and Canada, pausing duties scheduled to start that night.
The Toronto Stock Exchange, Canada's benchmark index, is up 1% on Aug. 19 after U.S. President Donald Trump announced that he is delaying imposing new 50% tariffs on Canadian imports. News that the duties have been paused has leading Canadian stocks rising, including Lululemon Athletica (LULU), Shopify (SHOP), and Restaurant Brands International (QSR).
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New 50% tariffs on Canadian items ranging from hockey sticks to wine were scheduled to begin at midnight on Aug. 19. But at the last minute, Trump wrote on social media that he has paused the duties and declared that a new trade deal has been reached between Washington, D.C. and Ottawa. "Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" wrote Trump.