{"id":52214,"date":"2025-08-22T13:08:59","date_gmt":"2025-08-22T17:08:59","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/trade-tensions-ease-as-canada-drops-tariffs-trump-backed-stablecoin-surges-on-coinbase\/52214\/"},"modified":"2025-08-22T13:08:59","modified_gmt":"2025-08-22T17:08:59","slug":"trade-tensions-ease-as-canada-drops-tariffs-trump-backed-stablecoin-surges-on-coinbase","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trade-tensions-ease-as-canada-drops-tariffs-trump-backed-stablecoin-surges-on-coinbase\/52214\/","title":{"rendered":"Trade Tensions Ease as Canada Drops Tariffs, Trump-Backed Stablecoin Surges on Coinbase"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>World Liberty Financial&#39;s <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>-backed USD1 stablecoin<\/strong> is now actively trading on <strong>Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>)<\/strong>, with its circulation surging to <strong>$2.4 billion<\/strong> following a significant <strong>$205 million minting event<\/strong>.<\/li>\n<li>Canadian Prime Minister <strong>Mark Carney<\/strong> announced the removal of many retaliatory tariffs on <strong>U.S. goods<\/strong> compliant with the <strong>USMCA<\/strong> trade pact, a move intended to reignite trade negotiations, though tariffs on <strong>steel, aluminum, and autos remain<\/strong>.<\/li>\n<li>Canada is preparing for the crucial <strong>USMCA review<\/strong> in 2026, initiating public consultations next month to shape its strategy amidst a changing global trade environment.<\/li>\n<li><strong><a href=\"https:\/\/stockmarketwatch.com\/metal\/gold-price.aspx\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">Gold<\/a> Reserve Ltd. (<a href=\"\/stock\/GRZ\">GRZ<\/a>)<\/strong> has appointed <strong>Cantor Fitzgerald &amp; Co.<\/strong> as its strategic financial advisor for its bid to acquire shares of <strong>PDV Holding, Inc.<\/strong>, the indirect parent company of <strong>CITGO Petroleum Corp.<\/strong><\/li>\n<\/ul>\n<p>In significant financial and trade developments today, the cryptocurrency market saw a major new entrant gain traction, while North American trade relations experienced a notable shift. The <strong><a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>-backed USD1 stablecoin<\/strong> by <strong>World Liberty Financial<\/strong> has officially gone live on <strong>Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>)<\/strong>, marking a substantial expansion of its reach. Concurrently, Canadian Prime Minister <strong>Mark Carney<\/strong> announced a strategic easing of retaliatory tariffs against the United States, signaling a renewed push for trade dialogue.<\/p>\n<h2>Cryptocurrency Market Sees New Stablecoin Surge<\/h2>\n<p>The <strong>Trump-backed USD1 stablecoin<\/strong>, issued by <strong>World Liberty Financial<\/strong>, has commenced trading on prominent cryptocurrency exchange <strong>Coinbase (<a href=\"\/stock\/COIN\">COIN<\/a>)<\/strong>. This launch follows a rapid increase in its market presence, with circulation now reaching <strong>$2.4 billion<\/strong> after a recent <strong>$205 million minting event<\/strong>. The stablecoin is also supported on <strong>Ethereum ERC-20<\/strong> and has expanded its liquidity and trading options by joining <strong>Binance<\/strong>.<\/p>\n<p><strong>World Liberty Financial (WLFI)<\/strong>, which has a 60% ownership stake held by the Trump family and provides them with 75% of its revenue, aims for <strong>USD1<\/strong> to compete with established <a href=\"https:\/\/stockmarketwatch.com\/market-trends\/stablecoins\/2025-report\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Stablecoins\">stablecoins<\/a> like <strong>USDC<\/strong> and <strong>USDT<\/strong>. The stablecoin is fully backed by U.S. dollar deposits, cash equivalents, and U.S. Treasuries, aligning with the <strong>GENIUS Act<\/strong> passed in July 2025, which mandates clearer guidelines for stablecoin issuers.<\/p>\n<h2>Canada Eases Tariffs to Rekindle U.S. Trade Talks<\/h2>\n<p>Canadian Prime Minister <strong>Mark Carney<\/strong> announced that Canada will remove many of its retaliatory tariffs on <strong>U.S. goods<\/strong> that comply with the <strong>United States-Mexico-Canada Agreement (USMCA)<\/strong>. This decision, effective September 1, 2025, is a strategic move to align Canada&#39;s tariff policy more closely with U.S. measures and to kickstart stalled trade negotiations.<\/p>\n<p>Despite this olive branch, Canada will maintain its tariffs on <strong>U.S. steel, aluminum, and automobiles<\/strong> for the time being. Prime Minister Carney recently held a &quot;productive and wide-ranging&quot; phone call with U.S. President <strong>Donald Trump<\/strong>, during which Trump reportedly assured Carney that the removal of countermeasures would facilitate new trade discussions. The two leaders also discussed forging a new economic and security relationship between their nations.<\/p>\n<h2>USMCA Review and International Engagements on the Horizon<\/h2>\n<p>The upcoming review of the <strong>USMCA<\/strong> in July 2026 is a critical focus for Canada. Prime Minister Carney emphasized the agreement&#39;s importance, calling it a &quot;unique advantage&quot; for Canada, especially as the U.S. increasingly charges for market access. Canada is set to begin public consultations next month (September 2025) to gather input and inform its priorities for the review, acknowledging that the trade environment necessitates potential changes to the agreement.<\/p>\n<p>In other diplomatic efforts, Prime Minister Carney is scheduled to visit Berlin next week to deepen economic ties with Germany. During his visit, he will meet with German Chancellor Friedrich Merz to discuss current foreign and economic policy issues. Discussions with the U.S. are also ongoing regarding a potential deal covering strategic sectors, with steel identified as a key topic in these &quot;intensive&quot; trade talks.<\/p>\n<h2>Gold Reserve Retains Cantor Fitzgerald for Acquisition Bid<\/h2>\n<p>In corporate news, <strong>Gold Reserve Ltd. (<a href=\"\/stock\/GRZ\">GRZ<\/a>)<\/strong> has engaged <strong>Cantor Fitzgerald &amp; Co.<\/strong> as its strategic financial advisor. This advisory role is specifically in connection with <strong>Gold Reserve&#39;s<\/strong> bid to purchase shares of <strong>PDV Holding, Inc.<\/strong>, which is the indirect parent company of <strong>CITGO Petroleum Corp.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways World Liberty Financial&#39;s Trump-backed USD1 stablecoin is now actively trading on Coinbase (COIN), with its circulation surging to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50383,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[5012],"tags":[7189,4118,8945,4179,9190,4335,9191,4388,4555,5024,5102,5260,6327],"class_list":["post-52214","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking-news","tag-stablecoin","tag-usmca","tag-mark-carney","tag-tariffs","tag-gold-reserve","tag-donald-trump","tag-wlfi","tag-financial-markets","tag-cryptocurrency","tag-trade","tag-us","tag-canada","tag-coinbase"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/52214","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=52214"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/52214\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50383"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=52214"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=52214"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=52214"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}