Export Controls Harden

Carney’s decision to name China alongside Canada, France and the U.S. sharpens debate over whether Canada should align more tightly with Washington’s AI-chip and cloud-computing restrictions. The most likely version is incremental tightening rather than a sweeping rupture, but semiconductors with China exposure would trade cautiously.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.