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;Resize=(620)) Top executives at the Bank of Montreal and Scotiabank separately referred to the Canada-U.S. trade situation as "manageable" on Tuesday.
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Beijing, seeking an advantage, casts itself as a global champion of free trade.
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Iran's top trade partners include China, Iraq, Turkey and the United Arab Emirates. But the Trump administration has not said who new sanctions would target, or how so.
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Canada announced new tariffs of up to 50 percent on hundreds of American goods in retaliation for U.S. tariffs that took effect last week. Starting Sept. 8, Canada will double tariffs on American steel and aluminum to 50 percent and impose tariffs on around 700 other products.
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Investors shrugged off the latest developments in the U.S.-Iran war.
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The US cannot fully isolate Tehran unless other trade partners co-operate
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The latest escalation in an ongoing trade war between the US and Canada will see new levies on goods from steel to furniture, fresh tuna and makeup.
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President Trump is calling on world leaders to join his economic war against Iran. And, the Supreme Court is backing the president for now on his order to restrict mail-in voting.
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Mark Carney accused Trump of wanting to "destroy" Canada's auto industry, and said he would only resume trade talks if the US comes with the "right attitude".
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