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President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:
“RT @realDonaldTrump Canada was caught, red handed, putting up a fraudulent advertisement on Ronald Reagan’s Speech on Tariffs. The Reagan Foundation said that they, “created an ad campaign using selective audio and video of President Ronald Reagan. The ad misrepresents the Presidential Radio Address,” and “did not seek nor receive permission to use and edit the remarks. The Ronald Reagan Presidential Foundation and Institute is reviewing its legal options in this matter.” The sole purpose of this FRAUD was Canada’s hope that the United States Supreme Court will come to their “rescue” on Tariffs that they have used for years to hurt the United States. Now the United States is able to defend itself against high and overbearing Canadian Tariffs (and those from the rest of the World as well!). Ronald Reagan LOVED Tariffs for purposes of National Security and the Economy, but Canada said he didn’t! Their Advertisement was to be taken down, IMMEDIATELY, but they let it run last night during the World Series, knowing that it was a FRAUD. Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10% over and above what they are paying now. Thank you for your attention to this matter!”
How Will Trump’s Statement Affect the Stock Market?
This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement accusing Canada of fraudulent advertising and announcing an increase in tariffs could lead to increased volatility in the stock market, particularly affecting the iShares MSCI Canada ETF. The ETF, which tracks Canadian equities, may experience a decline in value as investors react to potential economic tensions and trade barriers between the U.S. and Canada. Additionally, the heightened tariffs could impact Canadian companies’ profitability, further influencing the ETF’s performance.
Here are some of the stocks that might be affected:
iShares MSCI Canada ETF ((EWC)).