Orange juice futures reached the highest in almost two weeks as the spread of greening disease threatens production in the world’s largest exporter, Brazil https://t.co/KcKBE4ca1P ...

Core Viewpoint - Canada is reversing its tariffs on approximately $21.7 billion worth of American goods in an effort to ease trade tensions with the Trump administration, while maintaining tariffs on certain sectors like steel, aluminum, and automobiles [1][4][5]. Group 1: Policy Shift - Prime Minister Mark Carney will announce the removal of 25% tariffs on a wide range of US consumer goods that comply with the North American trade agreement [1][4]. - This marks a significant change in Canada's approach, moving away from aggressive retaliation against US tariffs that characterized Carney's election campaign [2][8]. Group 2: Economic Impact - The tariff rollback will exempt American products such as orange juice, wine, clothing, and motorcycles from the previously imposed import taxes [4][17]. - Canada's earlier retaliatory measures targeted about $21.6 billion in US shipments, but the recent policy change is expected to alleviate some economic pressures without triggering inflation, as consumer prices rose only 1.7% year-over-year in July [11][19]. Group 3: Strategic Considerations - The decision to roll back tariffs is seen as a strategy to ease tensions with the White House and prepare for the upcoming review of the US-Mexico-Canada Agreement [6]. - Carney's administration has shown skepticism towards the effectiveness of tit-for-tat trade measures, leading to exemptions for certain US items and potential relief for automakers maintaining Canadian manufacturing [13][16].

Orange juice futures rose to a three-month high in New York on mounting worries that President Donald Trump’s threat to slap a 50% tariff on Brazilian goods will curb supplies to the US. https://t.co/wqfew4fWZV ...