Trump Pauses 50% Canada Tariffs as U.S.-Canada Trade Deal Nears
Donald Trump has delayed planned 50% tariffs on nearly $20 billion of Canadian imports for three days as the U.S. and Canada work to finalize a new trade agreement.
Trump
Read more
Oil Prices Jump Above $100 as US Plans Hormuz Blockade Against Iranian Ports
Key Highlights Introduction Oil prices opened the week with a sharp jump after the United States said it would begin a shipping blockade against Iranian ports in the Strait of Hormuz. The announcement pushed both major crude benchmarks above $100 a barrel and revived fears of deeper disruption in global energy markets. Investors now face…
U.S. and Taiwan Reach Semiconductor Trade Deal, Cut Tariffs and Boost $250B Investment
The U.S. and Taiwan reached a semiconductor-focused trade deal that cuts tariffs, unlocks $250 billion in new investment, and expands chip production in Arizona, strengthening supply chains amid China tensions.
Novartis to Acquire Avidity Biosciences for $12 Billion to Boost Rare-Disease Portfolio
Novartis announced a $12 billion all-cash acquisition of Avidity Biosciences, gaining access to RNA-based therapies for rare muscle disorders. The move aligns with the company’s broader push into gene and precision-medicine platforms as it faces upcoming patent expirations on key blockbuster drugs.
Trump announces 130% tariffs on China, igniting trade fears
President Donald Trump revealed plans for an additional 100% tariff on Chinese imports, bringing the total tariff to 130%.
Trump Reaches Deal with AstraZeneca to Cut Drug Prices
In a significant development, President Trump announced a new deal with the UK-based pharmaceutical giant AstraZeneca. This agreement aims to make certain prescription medications more affordable for American patients.
Ahead of Trump visit: Google owner reveals £5bn AI investment
Google owner Company Alphabet has unveiled a massive £5bn AI investment. Discover its implications.
Canada Drops Many of Its Retaliatory Tariffs on the U.S.
Canada is rolling back a swath of retaliatory tariffs on U.S. imports effective September 1, lifting the 25% levy on many goods that comply with the existing free trade pact. Ottawa frames the move as a de-escalation ahead of next year’s CUSMA/USMCA review and a way to restart negotiations after a productive call between Prime Minister Mark Carney and President Donald Trump. Key sectors—autos, steel, and aluminum—remain protected with 25% tariffs for now. Consumers should see lower prices on items like orange juice and appliances, while import-reliant small businesses welcome relief. Labor groups and heavy industry, however, warn that maintaining pressure is essential as talks proceed.
Trump backs down from 250% EU pharma tariff in deal
Donald Trump backed down from a planned 250% tariff on EU pharmaceuticals. The new US-EU trade deal caps tariffs on medicines and semiconductors at 15%, while further reductions depend on Europe lifting duties on American industrial goods.
Toyota predicts $9.5 billion hit due to U.S. tariffs
Trump tarrifs are set to cost Toyota $9.5 billion in revenue this year. The Japanese automaker is set to be among the worst impacted by Trump’s policies.