US hits $20B Canadian goods with 50% tariffs after talks collapse
Negotiations failed at the last minute, triggering tariffs on roughly 5% of Canadian exports including wine, cement and hockey sticks. Canada vowed to retaliate dollar-for-dollar while markets reacted to the renewed trade war.
Trump Pushes New Iran Sanctions as Hormuz Traffic Stays Low
New sanctions and tariff threats framed as economic warfare include treating the Strait of Hormuz as US territory. Beijing says it can offset impacts through mineral exports and reserves.
US National Debt Exceeds $40 Trillion for First Time
Bipartisan spending on defense, entitlements and interest pushed the gross federal debt past the milestone. Both parties face renewed pressure ahead of midterm elections.
TikTok, ByteDance Settle Child Privacy Case for $400 Million
The DOJ agreement resolves claims of violations of online privacy laws for minors and comes amid separate national-security restructuring talks. Court approval is still pending.
Supreme Court Lets Trump Continue White House Ballroom Build
Chief Justice allowed construction of the $400 million ballroom to continue despite ongoing legal challenges. The decision drew praise from the administration and criticism from opponents over executive spending.
Trump Eases Beef Tariffs for 90 Days to Cut Consumer Prices
Temporary tariff exemptions will allow more foreign beef at 25% below market rates. Ranchers and some Republicans criticized the move as undercutting domestic producers.