Trump said the U.S. will impose 50% tariffs on Canadian automotive and steel imports starting Jan. 1, 2027, after trade talks collapsed. Canada has vowed dollar-for-dollar retaliation against new U.S. tariffs.
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Washington is threatening what it calls the toughest sanctions in history against Iran and warning other countries not to do business with Tehran. Iran says any country joining the US campaign will be treated as an enemy and has warned of retaliation.
The U.S. is preparing what Treasury Secretary Scott Bessent calls an “economic D-Day” against Iran, while Tehran warns countries not to join the sanctions campaign. Iran and Oman are also set to resume talks over management of the Strait of Hormuz.
Iran’s president said the country faces a “full-scale economic, military and security war” as the United States prepares new sanctions. Tehran’s top security official warned neighboring countries that joining the U.S. campaign would make them targets for retaliation.
The United States imposed 50% tariffs on about $20 billion in Canadian goods after last-minute talks failed. Prime Minister Mark Carney suspended negotiations and said Canada will respond “dollar for dollar.”
Vice President JD Vance returned to Middletown, Ohio, to promote manufacturing investment and rally Republicans ahead of the midterms. The trip came as Trump-backed candidates face key runoff tests in South Carolina and Oklahoma.
Trump said the U.S. will allow up to 300,000 metric tons of ground beef imports over 90 days without higher out-of-quota tariffs. The move is aimed at lowering beef prices but has drawn criticism from some ranching allies.
Iran says it has finalized a preferential trade agreement with Oman as Washington prepares a wider economic campaign against Tehran. U.S. officials say allies and rivals will be pressed to join sanctions efforts, while Iran is urging regional partners to expand trade and reduce reliance on the dollar.