Fashion
Trump announces 10% extra tariff on Canada over ‘fraudulent’ ad
The advertisement was aired on October 24 during Game 1 of Major League Baseball’s World Series between the Toronto Blue Jays and the Los Angeles Dodgers. In the advertisement, Reagan, a Republican, is shown warning that tariffs could spark trade wars and economic hardship.
Two days after ending trade talks with Ottawa and accusing Canada of running a misleading anti-tariff advertisement, US President Donald Trump yesterday announced raising tariffs on imports from the neighbouring country by an additional 10 per cent.
On Truth Social, Trump called the advertisement ‘fraudulent’ and lashed out at Canadian officials for not removing it ahead of the baseball championship.
On Truth Social, Trump called the advertisement ‘fraudulent’ and lashed out at Canadian officials for not removing it ahead of the baseball championship.
“Because of their serious misrepresentation of the facts, and hostile act, I am increasing the Tariff on Canada by 10 per cent over and above what they are paying now,” he wrote.
The United States has already imposed a 35-per cent tariff on all Canadian goods, though most are exempt under an existing free trade agreement. It has also slapped sector-specific levies on Canadian goods.
Ontario province’s premier Doug Ford said on October 24 that he would stop the anti-tariff advertisement campaign in the United States so that trade talks can resume, but it would run over the weekend.
Canada is the only G7 nation that is yet to reach a deal with the United States since Trump first declared he would impose reciprocal tariffs on goods from major trading partners.
“We will remain focused on achieving results that benefit workers and families in both the United States and Canada, and that progress is best achieved through direct engagement with the US administration – which is the responsibility of the federal government,” Dominic LeBlanc, Canadian minister responsible for trade with the United States, said.
Three-quarters of Canadian exports are to the United States.
Fibre2Fashion News Desk (DS)
While trends in high frequency indicators for January-February 2026 appear favourable, the heightened uncertainty around the duration of the Middle East conflict casts a shadow on the near-term macroeconomic outlook for India amid high import dependency for items like crude oil, natural gas and fertilisers, it noted.
India’s FY27 GDP growth is likely to slow to 6.5 per cent from the projected 7.5 per cent in FY26 owing to the impact of higher energy prices and concerns around energy availability, ICRA Ratings said.
The heightened uncertainty around the duration of the Iran war casts a shadow on the near-term macroeconomic outlook for India.
If the conflict lasts longer, the adverse effects could widen across sectors.
If the conflict lasts for an extended period, the adverse implications of the same could widen across sectors, amid an uptick in input costs and the consequent impact on profitability of the India corporate sector.
Amid the projected uptrend in the consumer price index-based inflation in FY27 with risks tilted to the upside, ICRA Ratings expects an extended pause on the policy rates by the central bank’s monetary policy committee in the fiscal despite the anticipated softening in the GDP growth. However, it expects the Reserve Bank of India to continue to intervene on the liquidity front during FY27.
The available data for January–February FY2026 indicate a positive trend across most non-agricultural indicators, with the year-on-year performance of 12 out of 18 indicators improving compared to the third quarter of FY26, while the remaining six deteriorated.
Fibre2Fashion News Desk (DS)
Indonesia’s apparel exports rose modestly to $8.705 billion in 2025 from $8.316 billion in 2024, reflecting gradual recovery.
The US remained dominant, accounting for over 56 per cent of shipments, highlighting growing market dependence.
While Japan, South Korea and Europe offered stability, exports stayed concentrated in key products and segments.
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Methanol prices in India have surged nearly 150 per cent from pre-Iran–US tension levels, tracking a sharp rise in crude oil and tightening global energy markets.
Hormuz disruption risks, limited rerouting capacity, rising freight and insurance costs, and constrained imports are fuelling volatility, with prices seen approaching ₹90 per kg.
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