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

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

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.