Bay Street Eyes Positive Start Despite U.S. Tariff Threat

India, July 21 -- Higher Canadian and U.S. futures, and firm commodity prices amid reports of fresh diplomatic efforts to ease the Middle East conflict point to a positive start on Bay Street Tuesday morning.

Meanwhile, U.S. President Donald Trump's decision to impose additional 50% tariffs on a wide range of goods imported from Canada may weigh on sentiment and limit market's upside.

Trump signed three Proclamations pursuant to Section 338 of the Tariff Act of 1930 on Monday to impose additional tariffs, saying that the move was in retaliation for what he called "Canada's discriminatory treatment of American products" such as cars, dairy and alcohol.

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