The Canadian dollar fell to its lowest level since May 2020 after Donald Trump threatened to impose tariffs on Canadian goods shipped to the United States once he takes office in January.

The threat of tariffs added a further drag on the loonie, which has been moving lower against the U.S. dollar since September.

The loonie was at 71.07 cents U.S. in late-morning trading after dipping below 71 cents U.S. earlier in the day.

The threat of tariffs added a further drag on the loonie, which has been moving lower against the U.S. dollar since September.{ai:summary}<p>The Canadian dollar has dropped to its lowest value since May 2020, trading at 71.07 cents U.S., following Donald Trump's threat to impose tariffs on Canadian imports when he assumes office in January. This announcement has compounded the loonie's decline against the U.S. dollar since September. </p><p>#economy</p>

Loonie falls to lowest since 2020 after Trump's 25% tariff announcement

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