US Stock Futures Climb On Apple Forecast, Investors Await Trump Tariffs
Apple negates weak China and iPhone numbers with a bullish forecast, convincing investors to stay positive and driving US stock futures higher in premarket trading. President Trump roils markets after he doubles down on a potential 25% tariff on Mexico and Canada. BNP Paribas' Viktor Hjort is keeping a wary eye on inflation dynamics potentially shifting the Fed's rate path. Joel Kulina of Wedbush calls Apple stock Teflon, and sees more restrictive US chip exports to China hurting Nvidia's bottom line. 'Bloomberg Brief' delivers the market news, data and analysis you need to set your agenda. (Source: Bloomberg)
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13 minutes ago
- Yahoo
Charting the Global Economy: Consumer Spending Weakens in US
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Hamilton Spectator
18 minutes ago
- Hamilton Spectator
Donald Trump says he's cutting off trade talks with Canada over Ottawa's digital tax
OTTAWA — U.S. President Donald Trump said Friday that he is cutting off all trade talks with Canada over the federal government's digital services tax that would impact American tech giants, calling it a 'blatant attack' on the United States. Trump announced his plan to end trade talks in a social media post Friday afternoon, less than two weeks after he agreed with Prime Minister Mark Carney at the G7 summit on June 16 to work toward a deal to end the ongoing trade war within 30 days . 'Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately,' Trump's post said. 'We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period.' The Prime Minister's Office responded later Friday afternoon with a short statement that did not mention the digital services tax and expressed Canada's desire to continue the trade talks. 'The Canadian government will continue to engage in these complex negotiations with the United States in the best interest of Canadian workers and businesses,' the statement said. Finance Minister François-Philippe Champagne said as recently as two weeks ago that Ottawa would press ahead with the tax, which is set to start collecting money on Monday. Prime Minister Mark Carney comments moments after U.S. President Donald Trump said that he was "terminating all discussions on trade with Canada" and threatened new tariffs over Ottawa's plans to push ahead with a digital services tax. Carney called the negotiations "complex." (June 27, 2025 / The Canadian Press) On social media, Conservative Leader Pierre Poilievre said he was disappointed to hear that trade talks have halted, and that he hopes they resume quickly. He also did not name the digital services tax, but pointed to changes his party has long argued will improve the Canadian economy, including the repeal of the existing federal project assessment regime and industrial carbon pricing. 'As always, Conservatives are ready to help get a good deal for Canada,' Poilievre's statement said. 'We must put Canada first.' Under Trump, the U.S. has imposed a series of tariffs on Canadian steel, aluminum, autos and other goods that Canada views as illegal and unjustified. Ottawa has responded with a raft of counter-tariffs in a trade war that Carney vowed during the spring campaign to 'win.' The prime minister has since embarked on talks with Trump, which Carney said are designed to renegotiate Canada's trade and security relationship with the economic and military juggernaut to the south. Flavio Volpe, president of the Automotive Parts Manufacturers' Association, was part of the prime minister's Canada-U.S. council that met virtually on Friday, just as Trump declared he would terminate trade talks. In an interview with the Star, Volpe said he remains cautiously optimistic, and that surprising twists have become an expectation since Trump returned to the White House in January. 'Is this a pressure moment in a negotiation, or is it really the end of the conversation? I don't know. But you know who does know? Donald Trump, who is, in this style of negotiation, a master,' Volpe said. 'Because the prime minister and the president are in direct communication, and have been for the last couple months, I will save my panic for … if the PM suggests we should panic.' Brian Clow, a former deputy chief of staff and senior adviser to prime minister Justin Trudeau, told the Star that it's not surprising Trump would target the tax, which was a trade irritant when Joe Biden was president as well. He urged the Carney government to stay calm and keep trying to talk to its American counterparts. He also said the government should not consider dropping the digital services tax unless the move is part of a broader trade deal with the Trump administration. 'To a certain extent, what we just saw from Donald Trump is exactly from his playbook. We've seen it so many times before,' Clow said. 'This is how he negotiates. He negotiates by threat, attempting to intimidate to yield more concessions from Canada. This is just a part of how it works and they've got to keep talking and hopefully come to some sort of deal.' The trade war has rattled businesses and workers across the country, with layoffs at auto plants and steel factory shutdowns in recent weeks. Trump doubled his steel and aluminum tariffs to 50 per cent against Canada on June 4, arguing the tariffs are needed to protect and promote a key American industry, as his broader policy of tariffs is designed to raise government revenues and overcome what the U.S. president argues is unfair commercial relations for his country. The Liberal government has long planned to impose a tax on digital services, which Trump views as an unfair trade practice that will hit American companies like Google and Meta. In his social media post Friday, Trump alluded to how the European Union is planning a similar digital services tax, and said Canada was 'copying' the bloc of states with 'a direct and blatant attack on our Country.' On Thursday, U.S. Treasury Secretary Scott Bessent announced that the G7 — a group of rich democracies that includes Canada — agreed to exempt American companies from certain taxes. In return, the Trump administration would remove a so-called 'revenge tax' from a sweeping bill in the U.S. Congress, which would have imposed taxes on investments from countries the U.S. deemed to be treating American firms unfairly. President Donald Trump said he's immediately suspending trade talks with Canada over its plans to continue with its tax on technology firms. Trump said the Canadians was sticking to its plan to impose the tax set to take effect Monday. (AP Video / June 27, 2025) Neither the PMO nor Champagne's office responded Friday when asked if that deal impacted Canada's digital services tax. The policy, enacted in 2024's Digital Services Tax Act , imposed a three per cent tax on revenue earned from online marketing and advertising, social media and some sales of user data. The tax applies to domestic and foreign businesses that reap more than $1.1 billion in global revenue and earn more than $20 million of revenue within Canada in a given year. The Liberals promised to introduce the tax in 2019, and argued hiking tax on big companies could help pay for social services and other public investments to spur the economy. The independent Parliamentary Budget Officer reported in 2023 that the tax would raise about $1.2 billion per year in government revenues. In a written statement Friday, the head of the Business Council of Canada said it has warned the government for the past three years that the digital services tax 'could risk undermining' Canada's economic relationship with the U.S. Goldy Hyder called on Canada to immediately propose to eliminate the tax, in exchange for the removal of American tariffs on Canadian goods. Catherine Cobden, president and chief executive officer of the Canadian Steel Producers Association, said Friday that trade relations are so unpredictable and uncertain with the U.S. that even a new deal to remove current tariffs can no longer be seen as a guarantee. She called for stronger measures to encourage using domestically produced steel in Canada, and other steps to protect the sector. 'We are really under attack by the United States, so we are rapidly pivoting away from that market,' she said. Another business group that has opposed the digital services tax, the Canadian Chamber of Commerce, said Friday that 'surprises' should be expected in negotiations. 'The tone and tenor of talks has improved in recent months, and we hope to see progress continue,' said the chamber's president, Candace Laing. 'We respect that Team Canada is conducting these negotiations at the table, and we need to give them the space to navigate.'
CNET
20 minutes ago
- CNET
Protect Yourself From Sketchy Calls: Unknown Caller vs. No Caller ID
Like most of us, you're probably getting a lot of unsolicited calls that show up as either No Caller ID or Unknown Caller on your iPhone. Reflexively answering either one could lead to a scam -- or perhaps a call you've been waiting for. What are the differences between these two anonymous labels? Here's what to know about each type of call and how to keep yourself safe from potential scams. No Caller ID vs. Unknown Caller A call labeled "No Caller ID" means the caller has blocked their number from appearing on your screen. In other words, they want to keep their identity under wraps. This can be a privacy measure, but it's also a tool used by scammers -- if you can't quickly verify who the caller is based on their number, it can be easier to fall for their trap. "Unknown Caller," on the other hand, is the message that appears when your phone service provider doesn't recognize who's calling. This can come down to several factors, including network or technical issues, or receiving calls from foreign numbers. Oftentimes, these callers aren't intentionally trying to hide their identity, but it's still a good idea to be cautious. Scammers can also use this method to hide their identity by using a phone that isn't registered with the phone company, for instance. What to do if you get anonymous calls You should always proceed with caution if you can't identify a caller. This is especially important if someone rings you and "No Caller ID" appears on the screen, as they have intentionally kept their number hidden. But an Unknown Caller is also something to be wary of, since it becomes harder to truly identify who's at the other end of the line. Letting the call go to voicemail is often a good idea. Answering a call signals to scammers that your number is active, which could lead to more similar calls in the future. The Live Voicemail feature is particularly helpful for these situations because it allows you to pick up the call if the voicemail transcript indicates it's someone you want to speak with. Silence unknown callers on your iPhone You can even go a step further and silence unknown callers on your iPhone. That way, those mystery callers won't disturb you, and they can just leave a voicemail for you to check later. In your iPhone, go to Settings, then tap Apps followed by Phone and go to Silence Unknown Callers. Hit the toggle to turn it on. Watch this: Why You're Getting So Many Spam Calls 08:33 Use apps to block unidentified calls Though there isn't a way to block these anonymous calls within your iPhone's settings, your wireless carrier may offer apps to help with this. AT&T ActiveArmor, for instance, has a free version that blocks spam and fraud calls, and also lets you block all unknown callers. The advanced version, which costs $4 a month, includes tools like reverse number lookup and caller ID for unknown numbers. ActiveArmor is available for iOS and Android. Verizon's Call Filter app also offers spam detection, a spam filter and the option to report numbers, all for free. For an additional $4 a month, you'll also get caller ID, spam lookup, a personal block list and a spam risk meter. Call Filter is automatically enabled for Android users on a postpaid plan, and is available in the App Store for iPhone. T-Mobile's Scam Shield has a free option that includes full caller ID, scam reporting and scam blocking. There's also a premium option for $4 a month per line, which offers reverse phone number lookup and voicemail transcriptions that are automatically texted to you. You can download the Scam Shield app in the App Store or Google Play. Be sure to check with other wireless carriers to see if they offer something similar. Some wireless carrier plans may include access to the premium features as well. For more third-party apps to help limit robocalls and general tips, check out our guide on stopping spam calls.
