THE YAP – MARCH 9, 2025

THE YAP – MARCH 9, 2025
Straight Facts. No Bias. No Noise. Just News.

🗞 IN THIS ISSUE:
💰 Trump’s tariffs hit Canadian seafood – Small businesses brace for rising costs.
📉 Markets react to trade war fears – Dow tumbles as investors face uncertainty.
🏦 Bank of Canada’s rate decision looms – Could another cut be on the way?
🚨 Liberal Party names new leader in Canada – Trudeau’s successor steps in.
📊 U.S. jobs report misses expectations – Manufacturing rises, but layoffs loom.

🔥 THE HOT TAKE
The trade war is heating up, and it's about to hit everything from oysters to interest rates. Your grocery bill and stock portfolio are about to feel it.

💰 Business & Economics

📌 U.S. Tariffs Are Squeezing Canadian Seafood Imports

• Small businesses are getting hit hard. Trump’s 25% tariff on Canadian goods is upending industries that rely on cross-border trade.

• Bryan Szeliga, owner of Fishtown Seafood, warns that oyster prices could spike as supply chains get squeezed.

• Why It Matters: Expect to pay more for imported food—and fewer options at the grocery store.

📌 Wall Street Feels the Heat From Tariffs

• The Dow dropped 1,300 points this week as investors reacted to tariffs targeting Canada & Mexico.

• While some tariffs have been delayed, bigger trade moves in April could drive inflation even higher.

• Why It Matters: Markets hate uncertainty, and tariffs could keep inflation stubbornly high.

📌 Bank of Canada’s Rate Decision on Wednesday

• Canada’s central bank already cut rates to 3% in January but faces pressure to ease further as the U.S. trade war drags on.

• Why It Matters: A rate cut could weaken the Canadian dollar, impacting businesses and imports.

📊 Finance

📌 Major Corporate Earnings Coming Up

• Empire Co. Ltd. (parent of Sobeys & Safeway) will report quarterly results—watch for grocery price trends as retailers shift away from U.S. products.

• Transat AT Inc. will report earnings amid falling demand for U.S. travel thanks to a weak Canadian dollar.

• Why It Matters: Consumer habits are shifting due to tariffs, and businesses are adjusting fast.

📌 Tariffs Could Hit Consumer Spending Hard

• A 25% tariff could add $0.75 per avocado, hitting household grocery bills.

• Rising costs might curb consumer spending, slowing overall economic growth.

• Why It Matters: Inflation is already high, and tariffs just made it worse.

🌍 Politics & Trade

📌 Canada’s Liberal Party Names Trudeau’s Successor Tonight

• A new Canadian prime minister will be named, setting the stage for a potential election.

• Why It Matters: Canada’s relationship with the U.S. is shifting, and new leadership could change trade policies.

📌 U.S.-Canada Trade War Just Got Worse

• Trudeau slammed Trump’s tariffs as "damaging to Canada’s economy" in one of his last public statements.

• Trump isn’t backing down, with planned tariffs on Canadian dairy & lumber as high as 250%.

• Why It Matters: Trade fights could raise prices on everyday goods in both countries.

📌 U.S. Jobs Report Shows Mixed Signals

• The U.S. added 151,000 jobs in February, mostly in manufacturing as businesses brace for tariffs.

• But government layoffs are coming, which could weaken job growth in the next few months.

• Why It Matters: More jobs now, but a slowdown might be ahead.

🎭 TheYap Take: Tariffs are the name of the game, and they’re hitting everything from your grocery bill to the stock market. Even oysters aren’t safe.

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🔥 Straight Facts. No Noise. Just News.