Here are five things you need to know this morning
Trump tariff watch continues: The world is anxiously waiting to see whether U.S. President Donald Trump follows through on punitive tariffs on Canada, Mexico and China. Trump has vowed to put a 25 per cent tariff on all imports from Canada and Mexico, except Canadian energy, which would face a 10 per cent rate. He has also said he’ll double tariffs on China to 20 per cent. The tariffs are set to take effect tomorrow. However, U.S. Commerce Secretary Howard Lutnick said Sunday that both Canada and Mexico have been working hard on controlling the border, calling it “a fluid situation,” and saying, “there are going to be tariffs on Tuesday on Mexico and Canada, exactly what they are, we’re going to leave that for the president and his team to negotiate.” BNN Bloomberg will have analysis throughout the day from investment professionals, economists, trade experts, and reporters.
Trump boosts crypto: The price of bitcoin surged more than 20 per cent and several other cryptocurrencies also rallied sharply after U.S. President Trump raised the possibility of a new strategic reserve that would include a range of tokens. Trump said in a post on Truth Social on Sunday that his January executive order on digital assets would create a stockpile of currencies, including bitcoin, ether, XRP, solana and cardano. The names had not previously been announced. As of 8 a.m. ET Monday, bitcoin was holding onto most of its gains but was pulling back from its initial rally, as skepticism emerged about the project’s merits and the motivations behind it.
New development in potential 7-Eleven deal: The Nikkei news service is reporting Seven & i Holdings will appoint board member Stephen Dacus as its new CEO. Dacus, who worked for decades in the Japanese retail industry, is currently leading a special committee evaluating a proposed takeover by Canada’s Alimentation Couche-Tard. He will be the first non-Japanese CEO of the company that operates the 7-Eleven convenience store chain. Seven & i says no decision has been made on the matter. The founding Ito family’s plan to take the company private to avoid being taken over by Couche-Tard collapsed last week. The CEO change is seen as a renewed effort to prevent the Japanese retailer’s takeover.
OTPP selling senior living portfolio: U.S real estate investment trust Welltower is buying the Amica Senior Lifestyles portfolio from Ontario Teachers’ Pension Plan. The deal is worth $4.6 billion dollars, and the portfolio includes more than 35 senior housing communities, along with land in Toronto, Vancouver and Victoria. Amica says it will continue to manage the properties as part of a long-term agreement with Welltower.
New CEO at goeasy: Alternative lender goeasy has named former Scotiabank executive Dan Rees as its new CEO. Rees will be the first external CEO to lead the company in 25 years. Shares in goeasy plunged last summer after then CEO Jason Mullins unexpectedly resigned for personal reasons. Analysts called the resignation “negative and unexpected.” Rees officially joins the company today and will assume CEO duties in May.