The U.S. has placed tariffs on steel and aluminum. Canada has responded with its own tariffs on C$16.6 billion worth of imports from the U.S. on July 1.
The Invesco CurrencyShares Canadian Dollar Trust (NYSE: FXC) has also reflected the depreciation in the Canadian dollar. FXC, which tracks the movements of the loonie against the U.S. dollar, has declined 5.8% year-to-date, with the CAD now trading at around USD $0.7536.
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