logo
Trump signs executive order pushing tariffs on Canada to 35 per cent

Trump signs executive order pushing tariffs on Canada to 35 per cent

Hamilton Spectator21 hours ago
WASHINGTON - U.S. President Donald Trump has signed an executive order pushing tariffs on Canada to 35 per cent beginning on Friday.
The White House confirmed the tariffs would not hit goods compliant with the Canada-U.S.-Mexico Agreement on trade, commonly known as CUSMA.
A fact sheet from the White House says Canada 'failed to cooperate in curbing the ongoing flood of fentanyl' and also pointed to Ottawa's implementation of retaliatory tarrifs.
U.S. government data shows a miniscule amount of fentanyl is seized at the border with Canada compared to Mexico.
Canadian officials had been tempering expectations that a trade deal would materialize ahead of Trump's deadline and Prime Minister Mark Carney has said he'll only make an agreement that is good for Canada.
Trump said earlier Thursday he hadn't talked to Canada.
This report by The Canadian Press was first published Aug. 31, 2025.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

B.C. forestry executive warns against cutting bad deal after U.S. raises tariffs
B.C. forestry executive warns against cutting bad deal after U.S. raises tariffs

Yahoo

time3 minutes ago

  • Yahoo

B.C. forestry executive warns against cutting bad deal after U.S. raises tariffs

VICTORIA — An executive in British Columbia's forestry industry says Canada should stand up to the United States, even after U.S. President Donald Trump raised tariffs to 35 per cent from 25 per cent on some goods. Brian Menzies, executive director of the Independent Wood Processors Association of British Columbia, says being "kowtowed and pushed over" is neither good for Canada nor the United States. Menzies says "people respect people who stand up for what's important for them," and if Canada does not stand up now, it won't be in a "strong position to advocate for what's important." Menzies' comments come after Trump had announced tariffs of 35 per cent on all Canadian goods outside the Canada-United States-Mexico Agreement on free trade. A statement from Premier David Eby's office says he remains focused on protecting workers and businesses in B.C. from the "deeply harmful tariffs" imposed by Trump's administration. The statement says that Eby supports the federal government's efforts to get a "good deal" for Canada, adding that he looks forward to speaking to Prime Minister Carney about the situation. This report by The Canadian Press was first published Aug. 1, 2025. Wolfgang Depner, The Canadian Press Sign in to access your portfolio

Bessent says US has 'makings of a deal' with China
Bessent says US has 'makings of a deal' with China

Yahoo

time3 minutes ago

  • Yahoo

Bessent says US has 'makings of a deal' with China

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said on Friday that he believed that Washington has the makings of a deal with China and that he was "optimistic" about the path forward. "This week's negotiations in Stockholm have advanced our talks with China, and I believe that we have the makings of a deal that will benefit both of our great nations," Bessent said in a post on X that was subsequently deleted. "I am optimistic about the path forward," he added. A Treasury Department spokesperson said the post was being reposted because the images attached to it had not uploaded correctly. The spokesperson also noted that the language in the post was in line with what Bessent had said in various media interviews this week. In an interview with CNBC on Thursday, Bessent said the United States believes it has the makings of a trade deal with China, but it is "not 100% done." U.S. negotiators "pushed back quite a bit" over two days of trade talks with the Chinese in Stockholm this week, Bessent told CNBC. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end escalating tit-for-tat tariffs and a cut-off of rare earth minerals. 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

Why Amazon Stock Is Plummeting Today
Why Amazon Stock Is Plummeting Today

Yahoo

time3 minutes ago

  • Yahoo

Why Amazon Stock Is Plummeting Today

Key Points Amazon's shares slipped after Q2 earnings revealed slower-than-hoped-for AWS growth that lagged growth seen by its rivals. New tariffs imposed by President Trump complicate its operations. 10 stocks we like better than Amazon › Shares of Amazon (NASDAQ: AMZN) are falling on Friday, down 8.3% as of 3:28 p.m. ET. The move comes as the S&P 500 and Nasdaq Composite have lost 1.7% and 2.3%, respectively. Amazon released its Q2 financials, which, while beating many of Wall Street's expectations, fell short of lofty targets in a few key areas. News of additional tariffs is also affecting shares. Amazon's cloud business is growing, but not fast enough for some investors Amazon's Q2 earnings report revealed the company beat consensus estimates for both earnings per share and revenue. The company delivered $1.68 per share on $167.70 billion in sales, while $1.33 per share on $162.09 billion was expected. However, investors were paying close attention to growth in the company's data center business, Amazon Web Services (AWS), and how it compares to its competition. The 18% year-over-year growth was much less than that of Microsoft's Azure or Alphabet's Google Cloud, which recorded 39% and 32% growth, respectively. Still, CEO Andy Jassy drove home the point that AWS is still by far the dominant player, saying, "I think the second player is about 65% of the size of AWS." Trump's new tariffs President Trump signed an executive order updating "reciprocal" tariff rates for many countries, with new rates from 10% to 41%, on the August 1st deadline. Markets appear to have thought another extension would be announced, and stocks are down across the board. Because of Amazon's reliance on international trade, its stock was hit particularly hard. Despite the tariff news and the somewhat underwhelming Q2 report, Amazon remains an incredibly profitable company with major growth potential. Should you buy stock in Amazon right now? Before you buy stock in Amazon, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Amazon wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $625,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,090,257!* Now, it's worth noting Stock Advisor's total average return is 1,036% — a market-crushing outperformance compared to 181% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 29, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Amazon, and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. Why Amazon Stock Is Plummeting Today was originally published by The Motley Fool 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

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