India, Aug. 24 -- The Canadian dollar weakened against other major currencies in the Asian session on Monday amid concerns about a deepening U.S.-Canada trade war and sliding oil prices.
Following the breakdown of trade negotiations between the two nations on Friday, the U.S. levied 50 percent tariffs on $20 billion worth of Canadian goods on Saturday.
Mark Carney, the prime minister of Canada, responded by announcing that the nation would start enforcing its own retaliatory tariffs on September 8. This weakens the commodity-linked Loonie, as does a decline in the price of crude oil.
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