The S&P/TSX Composite Index closed flat at 25,161 on Thursday, as investors absorbed the latest trade developments, while major miners helped offset losses.
U.S. President Trump unveiled a 25% tariff on imported vehicles, set to take effect on April 3, and signaled that reciprocal tariffs would be announced the following day.
This move dampened earlier hopes for selective tariff exemptions and came with a warning that “far larger” tariffs could target the EU and Canada if they coordinated countermeasures.
Financial and tech mega caps RBC (-1.1%) and Shopify (-1.4%) led the losses.
However, gains in major mining equities Agnico Eagle, Wheaton Precious, Barrick Gold, and Franco-Nevada added between 1.5% and 3.2%, supported by higher bullion prices.
