Silver Rises Over 120% YTD 
Trump’s decision to raise tariffs on Canadian goods to 35% deepens economic tensions with one of America’s closest trading partners. The new tariffs, linked to fentanyl enforcement and trade grievances, add pressure to global markets already rattled by a wave of U.S. tariff letters.
With the tariffs set to kick in August 1, investors are growing uneasy, as seen in early declines in stock market futures. Canada, which has already retaliated with tariffs of its own, remains in negotiations but is pushing back against Trump’s rhetoric and trade demands. As the second-largest U.S. trade partner, Canada’s response—and any economic fallout—will be closely watched in the weeks ahead.
