Canada announced retaliatory tariffs as high as 50% on hundreds of American products Tuesday, escalating a trade war with one of the United States’ largest trading partners. Why it matters: The economic consequences could extend well beyond businesses directly affected ...
President Trump is ramping up his tariff campaign once again, threatening dramatically higher duties on Canadian autos while preparing new tariffs on Chinese goods as his administration rebuilds a trade strategy struck down by the Supreme Court earlier this year. ...
Treasury Secretary Scott Bessent announced a sweeping new sanctions campaign against Iran on Monday, launching what the Trump administration is calling “Operation Economic Outcast” in an effort to further isolate Tehran from the global economy. Why it matters: Rather than ...
Syria and Israel held high-level, U.S.-mediated talks in Jordan on Sunday, a potentially significant diplomatic step following a series of Israeli strikes on Syrian territory. Why it matters: The discussions could help prevent another front from escalating in an already ...
Iran is dismissing the threat of another massive round of U.S. sanctions, arguing that Washington’s return to economic pressure is a sign that its military campaign has failed to force Tehran to back down. Why it matters: Treasury Secretary Scott ...
A trade war between the U.S. and Canada is escalating after Prime Minister Mark Carney walked away from negotiations rather than accept a growing list of demands from the Trump administration. Why it matters: Canada is one of America’s largest ...
Japan’s economy grew for a third consecutive quarter, but at a much slower pace than expected as weak domestic demand and higher costs from the Iran war weighed on the world’s fourth-largest economy. Why it matters: Japan is already struggling ...
Global uncertainty is rising, but this time investors aren’t rushing into bonds for safety. They’re selling them. Historically, geopolitical turmoil triggered a “flight to safety,” with investors buying government bonds and pushing yields lower. But today’s conflicts threaten global energy ...
The Japanese yen is ending the week having surrendered nearly half of the gains generated by last week’s coordinated U.S.-Japan intervention, highlighting how difficult it is for policymakers to reverse the currency’s longer-term decline. Why it matters: Japan is the ...
Treasury Secretary Scott Bessent said Tuesday that the U.S. could be just days away from reaching an agreement to reopen the Strait of Hormuz, raising hopes that one of the world’s most important shipping lanes may soon return to normal. ...