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Bay Street Pouting Over Trump Jabs -- Canadian Commentary

Canadian stocks are set for a downbeat open Friday morning amid an escalation in the trade squabble between the U.S. and Canada.

U.S. President Donald Trump continued his war of words against Canada ahead of the upcoming G7 summit.

"Canada charges the U.S. a 270% tariff on Dairy Products! They didn't tell you that, did they? Not fair to our farmers!", Trump tweeted.

"Why isn't the European Union and Canada informing the public that for years they have used massive Trade Tariffs and non-monetary Trade Barriers against the U.S. Totally unfair to our farmers, workers & companies. Take down your tariffs & barriers or we will more than match you!"

"Prime Minister Trudeau is being so indignant, bringing up the relationship that the U.S. and Canada had over the many years and all sorts of other things...but he doesn't bring up the fact that they charge us up to 300% on dairy — hurting our Farmers, killing our Agriculture!" he also tweeted.

Traders will consider a slew of Canadian economic news, including the latest jobs report.

Employment was little changed in May, and the unemployment rate was 5.8% for the fourth consecutive month, Statistics Canada said.

Canadian industries operated at 86.1% of their production capacity in the first quarter, up from 85.6% in the previous quarter. This was the seventh consecutive quarterly gain.

Bombardier's (BBD.b.TO) Toronto union could strike June 23 if no deal reached on a new contract. Meanwhile, Airbus SE sealed its control of Bombardier Inc.'s C Series. The two companies will co-host a conference call today.

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