Trump imposed 50% tariffs on most Canadian goods, citing unfair treatment of U.S. autos, alcohol and dairy products. Canada condemned the move but said it is ready to intensify trade talks during the 30-day window before the duties take effect.
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President Donald Trump signed orders imposing 50% tariffs on a broad range of Canadian imports, including alcohol, dairy and hockey equipment. The duties take effect Aug. 19, with energy, fish, critical minerals and potash excluded.
The U.S. national average for gasoline has climbed above $4 a gallon as renewed U.S.-Iran fighting raises concern over oil shipments through the Strait of Hormuz. Diesel and crude prices are also rising, adding pressure on consumers and markets.
Andy Burnham will formally become the UK’s 59th prime minister on Monday and is expected to promise households “more breathing room” in his first Downing Street speech. He takes office facing questions over his cabinet, fiscal constraints, Labour’s polling position and early policy choices on digital ID, public ownership and energy.
Trump Media plans to sell institutional clients high-speed access to top Truth Social posts, potentially including President Donald Trump’s, with delivery in milliseconds. The company has not disclosed pricing or whether Trump’s posts will be excluded from the paid feed.
China condemned the UK’s nationalisation of British Steel, saying it infringed on Jingye Group’s rights and weakened Chinese companies’ confidence in investing in Britain. The UK says public ownership is needed to protect jobs and preserve primary steelmaking at Scunthorpe.
The FDA approved Merck’s Lipfendra, a daily PCSK9 inhibitor pill for people with high LDL cholesterol. Merck said trials showed LDL reductions of up to 60% after 24 weeks and that the drug will list for $10.50 a day.
President Donald Trump dropped a proposed 20% fee on cargo passing through the Strait of Hormuz, saying Gulf investment deals would replace it. The decision came as the US prepared to resume a naval blockade of Iranian ports amid escalating regional attacks.