Canada-US Trade War Ignites as ECB Hikes to Fight Energy-Driven Inflation

Global trade tensions erupted overnight as Canada slapped retaliatory tariffs on $20 billion of US goods, while the ECB prepares to hike rates again to fight inflation fueled by the very same trade disruptions and a Middle East conflict that’s pushing oil toward $100.

Trade Routes

• Canada: Counter‑tariffs on C$27.6 billion of US imports—steel, dairy, wood—kicked in at 12:01 a.m. Tuesday, with rates as high as 50%.
• United States: President Trump...