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What you should and shouldn't do with your money after Trump's tariffs warning

The article from The Globe and Mail discusses the financial implications of the tariffs imposed by former U.S. President Donald Trump on Canadian exports, particularly steel and aluminum, and provides advice on how Canadians should manage their finances in light of these economic changes. It suggests that while the immediate impact might not be drastic for the average Canadian, there are several prudent steps one can take. These include diversifying investments to mitigate risks associated with trade disputes, keeping an eye on currency fluctuations as the Canadian dollar could weaken, and preparing for potential increases in the cost of goods due to retaliatory tariffs. The article advises against panic selling of investments, emphasizes the importance of maintaining a long-term investment strategy, and recommends staying informed about economic policies and their potential effects on personal finance. It also highlights the need for Canadians to possibly adjust their financial plans, like saving more or reducing discretionary spending, to cushion against economic uncertainties stemming from international trade tensions.

Read the Full The Globe and Mail Article at [ https://www.theglobeandmail.com/investing/personal-finance/article-what-you-should-and-shouldnt-do-with-your-money-after-trumps-tariffs/ ]

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