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5 things you need to know this morning: Feb. 3, 2025

Start your day off right with five things you need to know this morning.

Five things you need to know

1. Trump speaks with Trudeau for first time since becoming president, will speak again later

Justin Trudeau has now spoken with Donald Trump for the first time since the latter began his second presidency, and will speak to him again this afternoon. It comes after the US launched a trade war against Canada on the weekend.


2. Boos and booze bans across Canada as nation expresses fury at American betrayal

It's a boos-and-booze-ban bonanza across Canada as the country wakes up to the reality of being betrayed by its erstwhile friend and ally to the south. An NHL game in Vancouver and an NBA fixture in Toronto on Sunday both included the booing of the US national anthem, while American alcohol products are fast vanishing from the shelves of Canadian liquor stores.


3. US vice president: 'Spare me the sob story about how Canada is our “best friend”'

US Vice President JD Vance has mocked Canada and Mexico after his boss launched a trade war against both countries over the weekend. He wrote on X: "Spare me the sob story about how Canada is our 'best friend,'" adding: "Are they stopping the flow of drugs into our country? I’m sick of being taken advantage of."


4. US shares tumble after Trump tariff announcement

Shares in US companies have fallen considerably after President Trump launched a trade war against Canada, Mexico and China on the weekend, while stressing that the EU and UK are next on the menu. Market watchers have said the sell-offs are due to fears that the move by the US could spark a worldwide trade war.


5. Mexicans cut deal with US to suspend 25% tariff

The Mexicans have cut a deal with President Trump to delay for one month the imposition of a 25 per cent tariff on Mexican goods heading into the US. Mexico's president, Claudia Sheinbaum, said it comes after she had a "good conversation" with Trump and agreed to send thousands of troops to the US border. In return, she said, the Americans have committed to stopping the flow of guns into Mexico.

Thumbnail photo credit: The White House


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