The Washington Commanders will return to the District of Columbia and redevelop their former RFK Stadium campus, the team announced.

The S&P 500 has dropped 7.9% since Inauguration Day, CFRA Research data shows.

Around 2.2% of China’s GDP is directly impacted by U.S. tariffs, according to a note from Nomura economists.

They estimate that the U.S. accounted for 14.7% of China’s total goods exports in 2024, a figure that rises to 15.2% when including re-exports through Hong Kong, and to 20.6% when factoring in rerouted trade flows. After accounting for exemptions — with about 16.3% of exports not subject to reciprocal tariffs — the economists calculate that tariffs are directly hitting 2.2% of China’s GDP.

They also warn that the true economic impact could be larger, as the shock spills over into other areas, particularly the services sectors that support merchandise exports.

Earlier:

• Goldman Sachs says Trump tariffs could endanger 16 million export jobs in China

This article was written by Eamonn Sheridan at www.forexlive.com.

CTV projects Carney’s Liberals will form a minority government.

CAD had risen but was retracing even prior to this latest projection:

This article was written by Eamonn Sheridan at www.forexlive.com.

As polls closed in Canada, early results showed that the ruling Liberal Party won the federal election, according to CBC News.

I posted comments earlier from Chinese Foreign Minister Wang Yi:

• China’s FM says concession and retreat will only make the bully more aggressive

More now on Yi urging BRICS nations to resist U.S. tariff pressure, warns against appeasement. Speaking at a BRICS meeting, Chinese Foreign Minister Wang Yi urged emerging-market countries to stand firm against U.S. tariff threats, warning that giving in would only embolden Washington. His comments underscored China’s firm stance against entering trade negotiations under pressure, even as U.S. Treasury Secretary Scott Bessent floated the possibility of banning certain exports to China to gain leverage.

Wang sharply criticized U.S. trade tactics, stating, “The U.S., which has long benefited enormously from free trade, is now going so far as to use tariffs as a bargaining chip to demand exorbitant prices from all countries.” He warned that appeasement would backfire, adding, “If one chooses to remain silent, compromise and cower, it will only make the bully want to push his luck more.”

This article was written by Eamonn Sheridan at www.forexlive.com.

The Japanese Yen (JPY) ticks lower during the Asian session on Tuesday and erodes a part of the previous day’s strong recovery gains from a two-week low against its American counterpart.

Projections show Carney’s Liberals have won. Whether he’ll govern in majority or minority is still up for grabs. Still too early for that assessment to be made.

• CTV says Carney has won the election – too early to say if majority or minority though

CAD rising against the USD:

This article was written by Eamonn Sheridan at www.forexlive.com.

CTV says Carney has won the election – too early to say if majority or minority though.

CBC saying the same now also.

Carney confirmed as Prime Minister. This is the fourth consecutive win for the Liberals in Canada. The Conservatives were well ahead until Trump began his attacks on Canada (back in January, Polymarket had odds of the Liberals winning at an ‘its over’ of just 3% … what a come back!). He has a talent as a wrecking ball.

This article was written by Eamonn Sheridan at www.forexlive.com.