Morning Update: Iran’s protests are different this time

WASHINGTON, D.C. — Nothing zaps consumer and investor confidence quite like a trade war.  U.S. President Donald Trump’s tariffs have slashed Canadian exports, idled some auto plants, depressed manufacturing, and slowed GDP growth, with signs pointing to the economy contracting further. The Bank of Canada, meanwhile, has signalled it will hold interest rates this year, while the U.S. Federal Reserve has adopted a wait-and-see approach.  Trump recently nominated Kevin Warsh to replace Fed Chair Jerome Powell later this year. Because Warsh has praised Trump’s tariffs and criticized...