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Canadian Dollar Hits Lowest Level Since 2003 Amid US Tariffs
BY Connect Newsroom, Feb 3, 2025 5:44 PM - REPORT AN ERROR
The decline follows US President Donald Trump’s announcement of a 25% tariff on Canadian goods, effective Tuesday.
The Canadian dollar fell to its lowest level in nearly two decades on Monday, trading at 68.13 US cents. This marks its weakest point since 2003. The decline follows US President Donald Trump’s announcement of a 25% tariff on Canadian goods, effective Tuesday.
On Friday, the Canadian dollar was valued at 69.04 US cents. In retaliation, Canada plans to impose equivalent tariffs on $30 billion worth of American goods starting Tuesday.
While the tariffs will raise prices on US imports, the weaker Canadian dollar will further increase the cost of imported goods and make international travel more expensive.
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