logo
Trump hits Canada with 35 percent tariff

Trump hits Canada with 35 percent tariff

The Hill11-07-2025
The Big Story
President Trump announced his administration would impose a 35 percent tariff on all Canadian goods beginning next month.
© The Associated Press
Trump posted a letter sent to Canadian Prime Minister Mark Carney in which he outlined the upcoming tariffs. This week, Trump has posted letters to more than a dozen countries vowing to impose steep tariffs on their imports starting Aug. 1.
The president argued Canada had not done enough to curb the flow of fentanyl into the United States, even though relatively little fentanyl crosses the northern border each year compared with the southern border.
'If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter,' Trump wrote to Carney. 'These Tariffs may be modified, upward or downward, depending on our relationship with your Country.'
The U.S. had previously imposed a 25 percent tariff on Canadian goods, though Trump later exempted products covered under the 2020 trade agreement struck between the U.S., Canada and Mexico. It's unclear whether those exemptions will still apply as of Aug. 1.
The Hill's Brett Samuels has more here.
Welcome to The Hill's Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.
Did someone forward you this newsletter? Subscribe here.
Essential Reads
Key business and economic news with implications this week and beyond:
Jamie Dimon on Democratic friends: 'Big hearts and little brains'
JPMorgan Chase CEO Jamie Dimon on Thursday knocked Democrats for pushing diversity, equity and inclusion (DEI) policies instead of 'real world' solutions.
T-Mobile scraps DEI while awaiting deal approvals from FCC
T-Mobile says it will eliminate its diversity, equity and inclusion (DEI) programs as it awaits regulatory approval from the Federal Communications Commission (FCC) for two acquisition deals.
Trump trying to make Powell 'as miserable as possible': Haberman
President Trump is trying to make Jerome Powell's 'life as miserable as possible' as he ramps up pressure on the Federal Reserve chair to lower interest rates or leave the central bank, a reporter who has closely followed Trump asserted this week.
Undocumented minors found in raid of California cannabis farm, DHS says
Federal immigration agents, assisted by members of the National Guard, carried out raids at two Southern California cannabis farms Thursday, arresting dozens, including undocumented minors, in an operation that drew several hundred protestors and violent clashes with officers.
The Ticker
Upcoming news themes and events we're watching:
In Other News
Branch out with more stories from the day:
Trump plans to hike tariffs on Canadian goods to 35%
WASHINGTON (AP) — President Donald Trump said in a letter that he will raise taxes on many imported …
Good to Know
Business and economic news we've flagged from other outlets:
What Others are Reading
Top stories on The Hill right now:
New poll delivers troubling signs for Democrats
The Democratic Party's credibility with voters has plummeted even further since the 2024 election, raising alarm bells as the party looks to rebuild ahead of the midterms and the next presidential election, according to a poll obtained by The Hill. Read more
Dan Bongino fumes over Justice Department handling of Epstein files
Deputy FBI Director Dan Bongino is at the center of internal fighting in the Trump administration about the handling of files related to disgraced financier Jeffrey Epstein, leading to questions about Bongino's future in his role. Read more
What People Think
Opinions related to business and economic issues submitted to The Hill:
You're all caught up. See you next week!
Thank you for signing up!
Subscribe to more newsletters here
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

GOP blasts ‘fearmongering' Ocasio-Cortez for mocking Stefanik at North Country stop: ‘AOC is beyond parody'
GOP blasts ‘fearmongering' Ocasio-Cortez for mocking Stefanik at North Country stop: ‘AOC is beyond parody'

New York Post

time9 minutes ago

  • New York Post

GOP blasts ‘fearmongering' Ocasio-Cortez for mocking Stefanik at North Country stop: ‘AOC is beyond parody'

PLATTSBURGH, NY – Republicans are accusing Rep. Alexandria Ocasio-Cortez of 'fearmongering' during a stop in Rep. Elise Stefanik's upstate district — where she said the congresswoman is 'not welcome here anymore.' The lefty Big Apple pol quickly jumped into politics at a Plattsburgh town-hall event advertised as a response to President Trump's 'One Big Beautiful Bill,' mocking Stefanik for taking a farewell tour of the district when she thought she was about to become the US ambassador to the United Nations. 4 Alexandria Ocasio-Cortez speaking at the 2024 Democratic National Convention in Chicago at the United Center on August 19, 2024. Ron Sachs – CNP for NY Post Advertisement 'Elise did her farewell tour, and I think it's time to finish the job,' AOC yelled to a cheering crowd at the historic Strand Theater. 'Let's show her the door. She's not welcome here anymore,' AOC said on the stage nearly 300 miles away from her own district in The Bronx and Queens. Stefanik — whose ambassador nomination was yanked by President Trump because he was worried a Dem could fill her House seat — is now running for governor. Advertisement 4 Rep. Elise Stefanik leaving a House Republican Conference meeting with President Donald Trump on the budget reconciliation bill. CQ-Roll Call, Inc via Getty Images 'AOC and [Dem North Country Rep.] Paul Tonko may love trying to tax and spend their own constituents to death, but that doesn't mean they should come to the North Country and peddle the same, tired failing Democrat agenda,' Plattsburgh state Sen. Dan Stec (R-Warren) told The Post. 'Rather than continuing to spread disinformation and fearmongering over President Trump's historically significant legislative achievement, they should be telling Kathy Hochul and legislative Democrats to rein in Albany's bloated state budget,' he said. Other top GOPers laughed off Ocasio-Cortez's visit. Advertisement 4 Rep. Alexandria Ocasio-Cortez at a House Committee meeting on Capitol Hill on May 13, 2025. Getty Images 'As usual, AOC is beyond parody. Unlike AOC, a suburbanite cosplaying as a girl from The Bronx, Elise Stefanik is actually from her district,' a rep for the New York Republican Committee told The Post — taking a jab at Ocasio-Cortez for famously claiming to be a 'Bronx girl' in a recent spat with Trump even though she grew up in Westchester County. 'The North County is Elise Country, and it's Trump Country – and it'll stay that way,' the GOP representative said. AOC, dressed in a white button down shirt and black cuffed pants for the event, professed to love the Adirondacks and claimed she was an avid backpacker. Advertisement 4 Rep. Elise Stefanik speaking at a House Committee hearing at Capitol Hill on July 15, 2025. AP 'The Republican Party will never recover from this,' Erie County GOP Chair Michael Kracker quipped on X. A rep for Stefanik, asked by The Post if she had any response to AOC saying she's not welcome in her own district, said in a statement, 'Thank you for the political gift of a radical Far Left Socialist's visit to the North Country. 'It's like pouring jet fuel on Elise Stefanik's strong support in Upstate New York,' the statement read. The event was co-hosted by Tonko, who hailed his colleague 'Alex' as a figurehead of the Democratic party. 'They say, 'Well, she's the future of the party.' I say, 'She's the today of the party,' ' Tonko said.

Investors in Genetic Signatures (ASX:GSS) have unfortunately lost 85% over the last five years
Investors in Genetic Signatures (ASX:GSS) have unfortunately lost 85% over the last five years

Yahoo

time38 minutes ago

  • Yahoo

Investors in Genetic Signatures (ASX:GSS) have unfortunately lost 85% over the last five years

Long term investing is the way to go, but that doesn't mean you should hold every stock forever. We don't wish catastrophic capital loss on anyone. Spare a thought for those who held Genetic Signatures Limited (ASX:GSS) for five whole years - as the share price tanked 85%. And we doubt long term believers are the only worried holders, since the stock price has declined 49% over the last twelve months. On the other hand the share price has bounced 8.2% over the last week. We really hope anyone holding through that price crash has a diversified portfolio. Even when you lose money, you don't have to lose the lesson. So let's have a look and see if the longer term performance of the company has been in line with the underlying business' progress. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Genetic Signatures wasn't profitable in the last twelve months, it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). Arguably revenue is our next best option. Shareholders of unprofitable companies usually desire strong revenue growth. That's because fast revenue growth can be easily extrapolated to forecast profits, often of considerable size. Over half a decade Genetic Signatures reduced its trailing twelve month revenue by 2.3% for each year. While far from catastrophic that is not good. The share price fall of 13% (per year, over five years) is a stern reminder that money-losing companies are expected to grow revenue. It takes a certain kind of mental fortitude (or recklessness) to buy shares in a company that loses money and doesn't grow revenue. Fear of becoming a 'bagholder' may be keeping people away from this stock. You can see how earnings and revenue have changed over time in the image below (click on the chart to see the exact values). If you are thinking of buying or selling Genetic Signatures stock, you should check out this FREE detailed report on its balance sheet. A Different Perspective While the broader market gained around 13% in the last year, Genetic Signatures shareholders lost 49%. Even the share prices of good stocks drop sometimes, but we want to see improvements in the fundamental metrics of a business, before getting too interested. Unfortunately, last year's performance may indicate unresolved challenges, given that it was worse than the annualised loss of 13% over the last half decade. Generally speaking long term share price weakness can be a bad sign, though contrarian investors might want to research the stock in hope of a turnaround. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. To that end, you should be aware of the 3 warning signs we've spotted with Genetic Signatures . But note: Genetic Signatures may not be the best stock to buy. So take a peek at this free list of interesting companies with past earnings growth (and further growth forecast). Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on Australian exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Marshall's, T.J. Maxx CEO shares key news for #MarshallFinds fans
Marshall's, T.J. Maxx CEO shares key news for #MarshallFinds fans

Miami Herald

time39 minutes ago

  • Miami Herald

Marshall's, T.J. Maxx CEO shares key news for #MarshallFinds fans

Marshalls and T.J. Maxx have semi-cult followings. The companies more or less created the treasure hunt model which drives customers to stores even when they don't need something. My wife and son will go to Marshalls simply to see if the local store has a good deal on a designer brand. They might go there with an idea in mind, like "I need a few more nice shirts," or "I could use a new dress for that event in a few months," but mostly they go as entertainment. Related: Is the United States economy bad right now? Invariably, even when they don't need something my son finds some Polo socks or a T-shirt from a brand too trendy for me to know of its existence. That's not unique to how my family shops at Marshalls, it's essentially the business model for all the brands under the TJX banner. Get people into its stores by offering an ever-changing selection of amazing deals. Don't miss the move: Subscribe to TheStreet's free daily newsletter It's a business model that has spawned a lot of knockoffs, none of which has quite captured the magic of the two TJX Companies (TJX) sister sister companies. Marshalls and T.J. Maxx drive foot traffic which seems to results in that invariably leads to sales even when people had no plans to buy anything. That has led to the #MarhsallsFinds hashtag where people share what they bough at what prices. Of course, for that to work, the company needs access to inventory. T.J. Maxx and Marshalls buy retail inventory other retailers can't sell. Sometimes that means getting high-end brands at discount prices when the original manufacturer makes too much or misjudges demand. The original seller would hurt sales of new merchandise if it offered massive sales right next to those items. Instead, those items get bought by TJX which generally can't advertise the brands it has (hence the viral hashtag. Struggling retailers and even whole chains going out of business creates opportunities for Marshalls and T.J. Maxx. That might mean buying lots from a chain that has closed or taking on an order a manufacturer might have otherwise been stuck with. TJX CEO Ernie Herrman is bullish about his company's positioning. "I'd like to start with a few comments on the current environment and the reasons for our continued confidence in our business. We have a very long track record of successfully navigating through many types of challenging economic and retail markets," he shared during the company's first-quarter earnings call. More Retail: Walmart CEO sounds alarm on a big problem for customersTarget makes a change that might scare Walmart, CostcoTop investor takes firm stance on troubled retail brandWalmart and Costco making major change affecting all customers He believes that adversity has actually been a positive for the various TJX brands (which also includes HomeGoods). "Each time, we've emerged as an even stronger company with greater market share opportunities. We have a very experienced leadership team that has worked together for multiple decades. While we're not immune to tariff pressure, we are laser focused on our initiatives to offset them by remaining flexible and executing our opportunistic buying approach," he shared. Herrman explained why he thinks his brands are well-positioned. "First is the value proposition we offer to our customers. For us, value is a combination of brand, fashion, quality and price. Our customer surveys tell us that we have an excellent reputation as a value leader in each of our geographies," he said. He also believes that the current market should deliver customers to his stores. "As a trusted value retailer, we have historically attracted new shoppers to our stores in many different types of environments. Therefore, we are convinced that we will have an opportunity to gain market share if more consumers seek out value in the current environment," he added. Herrman also believes that TJX has a structural advantage over its rivals. "Our team of over 1,300 buyers source goods from an ever changing universe of over 21,000 vendors from more than 100 countries around the world. We have a global buying infrastructure and supply chain that has been in place for multiple decades," he added. Related: Chapter 11 bankruptcy, financial woes drag down 3 whiskey brands CFO John Klinger also gave some color on inventory and market opportunities. "Moving to inventory. Balance sheet inventory was up 15% and inventory on a per store basis was up 7% versus last year. We feel great about our inventory levels and have been taking advantage of the excellent deals we have been seeing in the marketplace. Availability of merchandise remains outstanding and we are set up very well to continue to flow fresh assortments to our stores and online," he shared. The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store