Qiagen and Incyte to develop diagnostic panel for myeloproliferative neoplasms
Qiagen and Incyte have announced a master collaboration agreement to create a diagnostic panel to aid in the treatment of individuals with a group of rare blood cancers known as myeloproliferative neoplasms (MPNs).
This partnership focuses on supporting Incyte's investigational therapies, including the monoclonal antibody INCA033989, which targets mutant calreticulin (mutCALR) in conditions such as myelofibrosis (MF) and essential thrombocythemia (ET).
According to the agreement, Qiagen will create a multimodal panel leveraging next-generation sequencing (NGS) to detect clinically relevant gene alterations in haematological malignancies.
The validation of the panel will be done by the Illumina NextSeq 550Dx platform as part of Qiagen's collaboration with the latter to provide NGS diagnostic platforms for global laboratory testing.
Regulatory submissions and market access activities will be supported by Qiagen across the European Union, the US, and the Asia-Pacific regions.
According to Qiagen, MPNs account for approximately 40% of haematological malignancies and are marked by the overproduction of various mature blood cells.
Incyte research and development head and president Pablo Cagnoni said: 'Following our presentation of positive, late-breaking data from our first-in-class mutCALR-targeted antibody at EHA, we are excited to announce this partnership with Qiagen, which will facilitate CALR testing for patients with MPNs on a global basis.
'The development of companion diagnostics for mutCALR, coupled with the potential for new medicines to selectively target disease-initiating cells, is a critical step toward changing the course of disease in patients with ET and MF.'
Incyte's INCA033989 for mutCALR ET or MF aims to eliminate malignant cells while sparing healthy ones.
CALR is said to play a crucial role in managing calcium levels within cells and ensuring the production of proteins.
Last month, Qiagen entered a commercial collaboration and joint marketing agreement with ID Solutions to expand the availability of digital polymerase chain reaction (dPCR) assays for applications in oncology research.
"Qiagen and Incyte to develop diagnostic panel for myeloproliferative neoplasms" was originally created and published by Medical Device Network, a GlobalData owned brand.
The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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Yahoo
an hour ago
- Yahoo
Trump tariffs live updates: US trade talks with EU, Canada in focus as G7 kicks off
US trade and tariff talks with the European Union and Canada are in focus to start the week as President Trump attends the G7 summit in Canada. A report in the German newspaper Handelsblatt on Monday hinted the EU could agree to a baseline 10% US tariff on all European Union exports, in exchange for avoiding higher tariffs on cars, medicines, and electronics. The European Commission denied that report. Meanwhile, Trump said on the first day of the G7 gathering that a trade deal with Canada was possible. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump said, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Canada's exports have been hit hard in Trump's trade salvos so far, as Trump has doubled duties on steel and aluminum imports to 50%. Meanwhile, Canada's auto exports to the US face 25% duties. Some products not included in the countries' existing trade agreement also face 25% levies. Trump told reporters last week that he would soon send letters to trading partners setting unilateral tariff rates, raising questions about the status of negotiations — as well as fears of a possible escalation back to his "Liberation Day" tariffs that roiled markets. Trump instituted a pause on his most punishing duties that expires July 9. The diverging signals came as the US made key progress with China, as the nations agreed to a framework and implementation plan to ease tariff and trade tensions. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earth mineral exports. Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs. Meanwhile last week, a federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. With US trade talks with the European Union in focus, there's a lot at stake for the two sides as they look to complete a preliminary deal by President Trump's July 9 deadline. If no agreement is reached by July 9, the US is set to increase broad tariffs on EU imports to 50% from 10%. The EU is hoping to have that deadline extended while negotiations continue. The European trading bloc is the US's largest trading partner; in 2024, it exported $600 billion worth of goods and imported $370 billion of US products. Despite the Trump administration's tariffs, the EU's trade surplus with the US has expanded each month since January. Both imports and exports increased in April, netting a total US trade deficit of around $115 billion. President Trump originally pegged his "Liberation Day" tariff rates to trade deficits, suggesting that this metric would be important to any final proposal, though the talks have also highlighted specific sectors and other areas of cooperation. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "I think our primary focus will be trade, and trade with Canada, and I'm sure we can work something out," he said, per Yahoo Finance Canada. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump added, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. Read more here. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." 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Aerospace companies and airlines face 10% tariffs on imported planes and parts as part of President Trump's 'Liberation Day' tariffs, and the Commerce Department is looking into additional Section 232 imported goods, which could lead to higher tariffs for the industry. Read more here. In case you missed it, bank executives gathered at a Morgan Stanley conference this past week, where they shared their views on the path forward for tariffs. And as Yahoo Finance's David Hollerith noted, JPMorgan Chase (JPM) CEO Jamie Dimon sounded a little more optimistic about the effect tariffs may have on the US economy over the next several months. "Maybe in July, August, September, October, you'll start to see 'did it have an effect?'" Dimon said of tariffs. "My guess is it did, hopefully not dramatic. May just make the soft landing a little bit softer as opposed to the ship go down." Dimon also guessed that tariffs will cause inflation to rise and employment to "come down a little bit." Meanwhile, clients at Citigroup's (C) global investment bank are evaluating a baseline level of tariffs of between 10% and 20%, according to Viswas Raghavan, Citigroup's head of banking. Read more here. The summer travel season is underway, and many foreign visitors are steering clear of the US amid ongoing trade tensions. Yahoo Finance's Ines Ferré reports: Read more here. With US trade talks with the European Union in focus, there's a lot at stake for the two sides as they look to complete a preliminary deal by President Trump's July 9 deadline. If no agreement is reached by July 9, the US is set to increase broad tariffs on EU imports to 50% from 10%. The EU is hoping to have that deadline extended while negotiations continue. The European trading bloc is the US's largest trading partner; in 2024, it exported $600 billion worth of goods and imported $370 billion of US products. Despite the Trump administration's tariffs, the EU's trade surplus with the US has expanded each month since January. Both imports and exports increased in April, netting a total US trade deficit of around $115 billion. President Trump originally pegged his "Liberation Day" tariff rates to trade deficits, suggesting that this metric would be important to any final proposal, though the talks have also highlighted specific sectors and other areas of cooperation. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "I think our primary focus will be trade, and trade with Canada, and I'm sure we can work something out," he said, per Yahoo Finance Canada. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump added, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. Read more here. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here The Trump administration's 50% steel tariffs will soon apply to consumer appliances like refrigerators and dishwasher, CNN reports: Read more here A delegation of US lawmakers and other state officials will attend the Paris Airshow this week to shore up economic partnerships with the US's allies in aerospace and aviation, Reuters reports. The group, which includes about a dozen governors — Virginia Governor Glenn Youngkin and Arkansas Governor Sarah Huckabee Sanders among them — is expected to make the case for greater investments in US aerospace companies amid concerns the Trump administration will raise tariffs on aircraft, jet engines, and parts. Aerospace companies and airlines face 10% tariffs on imported planes and parts as part of President Trump's 'Liberation Day' tariffs, and the Commerce Department is looking into additional Section 232 imported goods, which could lead to higher tariffs for the industry. Read more here. In case you missed it, bank executives gathered at a Morgan Stanley conference this past week, where they shared their views on the path forward for tariffs. And as Yahoo Finance's David Hollerith noted, JPMorgan Chase (JPM) CEO Jamie Dimon sounded a little more optimistic about the effect tariffs may have on the US economy over the next several months. "Maybe in July, August, September, October, you'll start to see 'did it have an effect?'" Dimon said of tariffs. "My guess is it did, hopefully not dramatic. May just make the soft landing a little bit softer as opposed to the ship go down." Dimon also guessed that tariffs will cause inflation to rise and employment to "come down a little bit." Meanwhile, clients at Citigroup's (C) global investment bank are evaluating a baseline level of tariffs of between 10% and 20%, according to Viswas Raghavan, Citigroup's head of banking. Read more here. The summer travel season is underway, and many foreign visitors are steering clear of the US amid ongoing trade tensions. Yahoo Finance's Ines Ferré reports: Read more here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Hamilton Spectator
an hour ago
- Hamilton Spectator
The latest: G7 meeting gets underway in Kananaskis
OTTAWA - Canada is hosting the G7 summit in Kananaskis, Alta. — Mark Carney's first major summit as prime minister. He has two days of meetings scheduled with leaders from the United States, France, Germany, Japan, the United Kingdom and Italy, as well as the European Union. The G7 helps to co-ordinate how liberal democracies respond to economic and social challenges and in recent years has gone beyond economics to focus on global security. Here's the latest. All times Eastern. — 12:50 p.m. Prime Minister Mark Carney and his wife, Diana Fox Carney, welcome G7 leaders to Kananaskis, Alta., at the Pomeroy Kananaskis Mountain Lodge. The prime minister stands on a stage in front of a G7 2025 sign and a water feature. The leaders walk down along a trail towards the stage and their names are said on a speaker. The prime minister greets the leaders, shakes their hands and takes photos with them before they step off the stage. — 11:45 Saying a deal to end his trade war with Canada is achievable, U.S. President Donald Trump tells reporters that 'we'll see if we can get to the bottom of it today.' Trump also rails against the decision to eject Russia from what was then known as the G8 in 2014. He blames former prime minister Justin Trudeau and former U.S. president Barack Obama; Trudeau only became prime minister in 2015. Prime Minister Mark Carney and Trump are meeting this morning, joined by delegations from both countries. Those in the room include Intergovernmental Affairs Minister Dominic LeBlanc, Carney's chief of staff Marco Mendicino and Canadian Ambassador to the U.S. Kirsten Hillman. The U.S. side includes Secretary of State Marco Rubio and U.S. Ambassador to Canada Pete Hoekstra. _ 11:30 a.m. Carney and Trump are meeting. The two are answering questions from media representatives who had been waiting for hours for the meeting to start. _ 11 a.m. A bilateral meeting between Carney and Trump is expected to begin shortly. It's Trump's first visit here since he started calling for Canada's annexation by the United States and since he launched his tariff war against much of the world. Trump stormed out of the last G7 summit that Canada hosted in 2018. This report by The Canadian Press was first published June 16, 2025. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Yahoo
2 hours ago
- Yahoo
Trump tariffs live updates: US trade talks with EU, Canada in focus as G-7 kicks off
US trade and tariff talks with the European Union and Canada are in focus to start the week as President Trump attends the G7 summit in Canada. A report in German newspaper Handelsblatt on Monday hinted the EU could agree to a baseline 10% US tariff on all European Union exports, in exchange for avoiding higher tariffs on cars, medicines, and electronics. The European Commission denied that report. Meanwhile, Trump said at the first day of the G7 gathering that a trade deal with Canada was possible. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump said, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Canada's exports have been hit hard in Trump's trade salvos so far, as Trump has doubled duties on steel and aluminum imports to 50%. Meanwhile, Canada's auto exports to the US face 25% duties. Some products not included in the countries' existing trade agreement also face 25% levies. Trump told reporters last week that he would send soon letters to trading partners setting unilateral tariff rates, raising questions about the status of negotiations — as well as fears of a possible escalation back to his "Liberation Day" tariffs that roiled markets. Trump instituted a pause on his most punishing duties that expires July 9. The diverging signals came as the US made key progress with China, as the nations agreed to a framework and implementation plan to ease tariff and trade tensions. Trump and other US officials indicated the deal should resolve issues between the two countries on rare earth mineral exports. Trump said the US would impose a total of 55% tariffs on Chinese goods. Yahoo Finance's Ben Werschkul reports, citing a White House official, that Trump arrived at that figure by adding together an array of preexisting duties and not any new tariffs. Meanwhile last week, a federal appeals court held a decision saying his tariffs can temporarily stay in effect. The US Court of International Trade had blocked their implementation last month, deeming the method used to enact them "unlawful." Read more: What Trump's tariffs mean for the economy and your wallet Here are the latest updates as the policy reverberates around the world. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump said, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here The Trump administration's 50% steel tariffs will soon apply to consumer appliances like refrigerators and dishwasher, CNN reports: Read more here A delegation of US lawmakers and other state officials will attend the Paris Airshow this week to shore up economic partnerships with the US's allies in aerospace and aviation, Reuters reports. The group, which includes about a dozen governors — Virginia Governor Glenn Youngkin and Arkansas Governor Sarah Huckabee Sanders among them — is expected to make the case for greater investments in US aerospace companies amid concerns the Trump administration will raise tariffs on aircraft, jet engines, and parts. Aerospace companies and airlines face 10% tariffs on imported planes and parts as part of President Trump's 'Liberation Day' tariffs, and the Commerce Department is looking into additional Section 232 imported goods, which could lead to higher tariffs for the industry. Read more here. In case you missed it, bank executives gathered at a Morgan Stanley conference this past week, where they shared their views on the path forward for tariffs. And as Yahoo Finance's David Hollerith noted, JPMorgan Chase (JPM) CEO Jamie Dimon sounded a little more optimistic about the effect tariffs may have on the US economy over the next several months. "Maybe in July, August, September, October, you'll start to see 'did it have an effect?'" Dimon said of tariffs. "My guess is it did, hopefully not dramatic. May just make the soft landing a little bit softer as opposed to the ship go down." Dimon also guessed that tariffs will cause inflation to rise and employment to "come down a little bit." Meanwhile, clients at Citigroup's (C) global investment bank are evaluating a baseline level of tariffs of between 10% and 20%, according to Viswas Raghavan, Citigroup's head of banking. Read more here. The summer travel season is underway, and many foreign visitors are steering clear of the US amid ongoing trade tensions. Yahoo Finance's Ines Ferré reports: Read more here. Canada's trade-focused industries are starting to slow down as a result of US President Trump's tariffs. Bloomberg News reports: Read more here. President Trump on Monday suggested he was optimistic about trade negotiations with Canada during the opening day of the G7 meeting. "We have different concepts. I have a tariff concept. Mark has a different concept," Trump said, standing alongside Canadian Prime Minister Mark Carney. "We're going to see if we can get to the bottom of it today." Trade is one of several items taking focus at the G7 gathering, with Trump's latest self-imposed tariff deadline is looming in July. Canada already faces a bevy of duties that affect its imports: 50% on steel and aluminum and 25% on foreign autos. At Home filed for bankruptcy on Monday and said tariffs played a central role in its financial struggles. The chain of 260 stores sells home goods and has been struggling to manage its debt load for several years as the housing market slowed down and inflation-wary customers pulled back on spending. This year, tariffs proved to be a final blow, the company's CFO wrote in court documents. "The volatility of the current tariff environment came at a time when the management team was working to address the company's existing issues," CFO Jeremy Aguilar wrote. "These newly imposed tariffs and the uncertainty of ongoing U.S. trade negotiations intensified the financial pressure on the company, accelerating the need for a comprehensive solution." At Home sources a large percentage of its goods from China, and the tariff uncertainty made it hard for it to plan its key Halloween and Christmas orders ahead of time. Earlier this year, it was in talks to raise money and amend an agreement with lenders to shore up its finances but realized it needed a more "comprehensive strategy" after the new tariffs were announced. The chain is entering bankruptcy with a plan to continue operating, close some stores, and hand ownership to its lenders. Trump's Tariffs are affecting consumers beyond retail — they are also impacting aspects of everyday life. Families who would typically avoid the big amusement parks like Disney World in favor of more regional parks, which allow them to travel locally and avoid expensive flights are now saying they may stay home due to the economic uncertainty brought on by tariffs. AP reports: Read more here. CNN reports: Read more here. As President Trump's tariff deadline looms, what will happen when the countdown ends on Liberation Day 2.0? Yahoo Finance's Washington Correspondent Ben Werschkul looks into Trump's plan of action: Read more here. Despite a trade truce between the US and China last week in London, a key area remains unresolved. Export restrictions tied to national security are still being discussed, and Beijing has not committed to grant export clearance for some specialized rare earth magnets, according to two sources. Reuters reports: Read more here. Reuters reports: Read more here. According to reports in the German newspaper Handlesblatt, senior Brussels negotiators are considering whether to accept US tariffs of 10% on all EU exports into the US, in hopes it will prevent higher duties on cars, drugs, and electronics. Per Reuters, EU officials said the offer would come under certain conditions and would not be permanent. Handelsblatt reported that the EU is ready to cut tariffs on US-made vehicles and may ease technical and legal hurdles to make it easier for US manufacturers to sell their cars in Europe. Reuters reports: Read more here. China reported mixed economic performance for May on Monday, as retail sales jumped while factory output slowed due to higher US tariffs. AP reports: Read more here. Thailand's commerce minister has expressed confidence that he will be able to negotiate tariffs as low as 10% with the US. Reuters reports: Read more here. Reuters reports: Read more here. As part of tariff negotiations, the US has requested that Vietnam reduce the use of Chinese tech devices that are assembled in the country before exporting to America, according to several people familiar with the matter. Reuters reports: Read more here. South Korea has launched a task force to help handle tariff and non-tariff negotiations with the US. The group will manage discussions across industry and the energy sector, a statement from the Industry Ministry for South Korea revealed on Monday. Reuters reports: Read more here. Canada will host world leaders from across the globe at the G7 summit this week in Kananaskis. Among the many goals for Canadian Prime Minister Mark Carney: Demonstrate he can handle US President Donald Trump, the Financial Times reports, with one Canadian official characterizing the gathering as "preparing the red carpet for Godzilla." Read more here (premium) As leaders gather this week in Canada for the G7 summit, Israel's strike on Iran is sure to be a topic of discussion among the gathering. But as CNN reports, world trade and President Donald Trump's tariffs will also be top of mind: Read more here The Trump administration's 50% steel tariffs will soon apply to consumer appliances like refrigerators and dishwasher, CNN reports: Read more here A delegation of US lawmakers and other state officials will attend the Paris Airshow this week to shore up economic partnerships with the US's allies in aerospace and aviation, Reuters reports. The group, which includes about a dozen governors — Virginia Governor Glenn Youngkin and Arkansas Governor Sarah Huckabee Sanders among them — is expected to make the case for greater investments in US aerospace companies amid concerns the Trump administration will raise tariffs on aircraft, jet engines, and parts. Aerospace companies and airlines face 10% tariffs on imported planes and parts as part of President Trump's 'Liberation Day' tariffs, and the Commerce Department is looking into additional Section 232 imported goods, which could lead to higher tariffs for the industry. Read more here. In case you missed it, bank executives gathered at a Morgan Stanley conference this past week, where they shared their views on the path forward for tariffs. And as Yahoo Finance's David Hollerith noted, JPMorgan Chase (JPM) CEO Jamie Dimon sounded a little more optimistic about the effect tariffs may have on the US economy over the next several months. "Maybe in July, August, September, October, you'll start to see 'did it have an effect?'" Dimon said of tariffs. "My guess is it did, hopefully not dramatic. May just make the soft landing a little bit softer as opposed to the ship go down." Dimon also guessed that tariffs will cause inflation to rise and employment to "come down a little bit." Meanwhile, clients at Citigroup's (C) global investment bank are evaluating a baseline level of tariffs of between 10% and 20%, according to Viswas Raghavan, Citigroup's head of banking. Read more here. The summer travel season is underway, and many foreign visitors are steering clear of the US amid ongoing trade tensions. Yahoo Finance's Ines Ferré reports: Read more here. Canada's trade-focused industries are starting to slow down as a result of US President Trump's tariffs. Bloomberg News reports: Read more here.
