On Monday, the Canadian dollar experienced a slight decline relative to the US dollar. Trading at 1.4310 CAD per 1 USD — equivalent to 69.88 US cents — the currency fell by 0.1% amid fluctuations ranging between 1.4289 and 1.4379.

The announcement of new tariffs on steel and aluminum imports by President Donald Trump has caused concern globally. As a significant exporter of these metals, Australia seeks to be exempted from the 25% tariffs.