🚀Elon Musk’s Starlink gets a blow of $100 million!

The biggest impact of this trade war has fallen on Elon Musk’s Starlink company. The Ontario government cancelled a $100 million deal to provide high-speed internet in remote areas.

✅ Background of the deal:

The Ontario government had signed a contract with Starlink in 2024 to provide satellite internet in rural and remote areas.

But now Doug Ford has said that it will continue as long as Trump does not rollback his tariff.

This could be a big financial loss for Elon Musk, as his company is already in the expansion phase and this deal was important for him.

🍷 Ontario and British Columbia banned US products!

Not just the tech sector, but the retail and liquor industry is also being affected by this trade war.

✅ The Ontario government has said that:

American brands will not get government tenders.

A plan is being made to remove US-made products from stores.

✅ British Columbia also took strict action:

Decision to stop purchasing American wines.

Initiative to promote local Canadian brands.

This move has been done to support Canadian businesses and the economy.

📈 US inflation will increase, consumers will have to pay for everything!

Economic experts say that if this trade war continues for a long time, inflation and supply chain issues can be created.

✅ Economic Impact:

Goods imported into the US will become expensive, because consumers will have to bear the cost of tariffs.

Global trade could slow down, hurting both Canada and the US.

The Canadian economy could remain stable as it focuses on local manufacturing and trade partnerships.

Capitol Economics experts say US inflation could rise from 2.9% to 4%, which would be equal to 2023 levels.

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