RETALIATORY TARIFFS
Research: Navigating the Business Risks of Changing Pro-America Sentiment
U.S. firms increasingly operate in a marketplace where “Made in USA” is no longer a neutral provenance claim but a charged political signal. A new study analyzing 5,355 companies over twenty years found that pro-America marketing has increasingly shifted from pride-based patriotism to grievance-fueled, us‑versus‑them nationalism. While this can create upsides—new customers, loyalty, pricing power—it also exposes companies to narrative capture, boycotts, and legal scrutiny. To avoid risk, companies must examine their exposure along two axes: domestic embeddedness and symbolic intensity. Leaders must align operations and symbolism, set clear guardrails, and proactively manage meaning drift before others define their loyalties.
Fed expected to pause rate hikes ahead of US midterms
The US Federal Reserve's upcoming meeting is expected to result in steady interest rates. High inflation continues to challenge economic policies, with rates anticipated to rise later this year. The Federal Open Market Committee will analyze data amidst political considerations ahead of the midterm elections. Analysts believe that while inflation remains a concern, a cautious approach will likely be taken.
Fed expected to hold rates steady days ahead of US midterms
The US Federal Reserve appears set to hold interest rates steady at its meeting next week, analysts say, despite stubbornly high inflation and with markets pricing in at least one rate hike before year-end. The Fed has missed its long-term two-percent target for inflation for more than five years, and at its last meeting in September the FOMC voted to raise the key federal funds rate for the first time in three years, lifting the target range to 3.75 percent to 4.0 percent.
Carney says Trump's tariffs hurt Americans as US alleges Canadian interference
Canadian Prime Minister Mark Carney outlined a significant financial plan for supporting manufacturing in Ontario. This strategy includes billions to assist steelmakers, automakers, and critical mineral development. Carney emphasized that U.S. tariffs have negatively impacted trade relations and increased costs for American consumers. Ontario Premier Doug Ford stated that the diplomatic relationship with the U.S. has permanently changed.
China's trade barriers biggest hurdle in bilateral ties, says Nirmala Sitharaman; flags $100 billion deficit
Nirmala Sitharaman has identified China's constraints on Indian exports as a crucial hindrance to trade advancement. The finance minister reported a staggering trade deficit exceeding $100 billion with China this year, even with improved diplomatic relations. She noted that non-tariff barriers obstruct Indian products, especially generic medicines, from entering China.
US Fed minutes signal another rate hike by year-end as inflation stays high
According to the latest minutes from the US Federal Reserve, officials hint at a possible interest rate rise by year's end in response to ongoing inflation challenges. With inflation reaching a high of 7.2% in June 2022, fluctuations have continued amid worries over geopolitical events and escalating energy costs. The Fed faces the complex task of controlling inflation while ensuring stable employment within the economy.
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Brussels looks to capture Big Tech through tax on large corporations
Brussels is considering taxing big US tech companies through a broad levy on large corporations in an effort to raise revenues for the EU while avoiding a backlash from the Trump administration, the Financial Times reported on Wednesday.
'I'm in no rush': Trump leaves US-Canada trade talks in limbo
US President Donald Trump has said that he is not rushing to resume trade negotiations with Canada. He insisted that any future agreement requires Canada to approach these talks with honesty. Following the breakdown of negotiations in August, significant tariffs have been imposed by both countries. The dispute currently affects the United States-Mexico-Canada Agreement concerning North American trade.
US midterms: In crude Ohio rally speech, Trump says he may not help if Democrats win
Donald Trump held a rally in Ohio to support Republican candidates Jon Husted and Vivek Ramaswamy. He criticized Democrats and emphasized the need for voters to participate in the midterms. Trump warned that he would be less inclined to assist Democratic officials if they win key races. Husted faces a tough race against former Senator Sherrod Brown, while Ramaswamy battles Amy Acton.
From motorcycles to booze, US ban on $1 billion worth of Canadian imports goes into effect
The United States of America has banned nearly $1 billion worth of Canadian imports, which includes alcoholic beverages, dairy products and motorcycles. The move comes as a rebuttal against Canada's retaliatory tarriffs against previous American tarriffs on Canadian goods. Candian Prime Minister Mark Carney is rapidly pushing for new trade partnerships.
US bans select Canadian products: Full list of alcohol, dairy, and motorcycle imports affected
New US import restrictions on Canadian goods came into effect on September 29. The measures target selected alcoholic beverages, whey and other dairy-related products, molasses and certain motorcycles. The restrictions are part of a wider trade dispute between the two countries.
US import ban on Canadian alcohol, other products comes into effect
A new US import ban on various Canadian products including alcohol has recently taken effect. This ban follows months of escalating trade tensions between the US and Canada. According to Spirits Canada, the impact of this ban on the alcohol sector could be significant. The ban was initiated after Canada imposed retaliatory tariffs on US goods worth about $20 billion.
India left more exposed to Trump's 100% oil threat as China gets tariff breather
India could find itself more exposed to US tariff pressure over Russian oil after Washington and Beijing extended their Busan trade truce until January 10, 2027, according to GTRI. The think tank's founder Ajay Srivastava argues that China's tariff breathing room leaves New Delhi facing greater risk from Trump's new powers to impose tariffs of up to 100% on major buyers of Russian energy.
Canada has prepared for the unthinkable: A military attack by the US
Canadian Prime Minister Mark Carney recently suggested that the possibility of a US military attack is minimal. He emphasized responsibility in assessing extreme and improbable risks while preparing for them. Carney's remarks indicate a growing mistrust in the US and a shift in Canadian defense strategy. Canada seeks to diversify its dependencies and strengthen ties with Europe amidst increasing pressures.
'Busan Agreement' explained: What the US-China trade truce means for world trade
US Treasury Secretary Scott Bessent announced the extension of the Busan Agreement until January 10, 2027. This extension allows both sides more time to negotiate without facing immediate tariff threats. The Busan Agreement was initially established to ease trade tensions between the US and China last year. Key areas of focus include agriculture and non-tariff barriers that require further discussion.
Trump calls Fed board ‘very political’ and ‘doing the wrong thing’ after first rate hike in 3 years
Trump has renewed pressure on the Federal Reserve, demanding rates of 1% or lower shortly after the central bank raised its benchmark rate to 3.75%-4% to tackle persistent inflation. The move has put Fed Chair Kevin Warsh, Trump’s own appointee, in the spotlight, as Warsh defended the hike and warned that inflation remains too high. The clash also highlights tensions over the Fed’s independence, with Trump linking interest rates to US trade deficits and continuing his broader criticism of officials he has appointed.
Trump’s Canada trade war puts Republican Senate candidates in Michigan, Maine in a bind
Republican candidates face challenges balancing President Trump's trade policies and voter concerns. Michigan and Maine economies are closely tied to Canadian trade, raising stakes for Senate races. Senator Susan Collins criticizes tariffs, while candidate Mike Rogers supports the president's approach. Canada's retaliatory tariffs aim to exert political pressure on the United States. Voters largely blame Washington for the ongoing trade dispute and higher costs.
Canada’s European pivot draws Trump threat as Mark Carney prepares for EU Parliament speech
Canadian Prime Minister Mark Carney addresses the European Parliament amid escalating US trade disputes. Europe proposed associate member status for Canada, which was warmly received by lawmakers. President Trump warned of economic measures if the move is perceived negatively. Canada aims to diversify relationships and strengthen its independence from the United States. This deeper partnership offers Canada strategic autonomy and Europe a closer ally.
US-Canada trade war heats up: Trump signs memo to exclude Canadian products from federal procurement
US President Donald Trump has directed his administration to identify and remove Canadian-origin goods from the US federal civil procurement system, escalating a broader trade dispute with Ottawa. The White House said Canada had disadvantaged US companies in government procurement, while the latest move adds purchasing restrictions to existing tariffs and market-access disputes.
Trump vs Carney: The dealmaker meets his match in a central banker
In response to Trump's pressures, Canadian Prime Minister Mark Carney has strategically leveraged central banking principles. Steadfast in resisting tight deadlines while prioritising Canada’s long-term economic stability, Carney is actively looking to establish diverse trade partnerships that extend beyond the United States. A proposed 'associate member' status from Europe further aims to enhance Canada's geopolitical and economic influence.
A 'Prisoner’s Dilemma' is driving the trade war & the costs could be huge
The WTO’s World Trade Report 2026 says global trade is caught in a “Prisoner’s Dilemma”: countries have an incentive to protect their own markets, but when everyone raises tariffs and restricts imports, retaliation can shrink trade, raise prices and leave all sides worse off.
Canada's retaliatory tariffs take effect as US trade talks stall
Canada has implemented retaliatory tariffs on goods from the United States, escalating the trade tension that started with US tariffs on Canadian exports last month. Prime Minister Mark Carney advocates for reevaluating reliance on the largest trading ally as these new tariffs strive to influence Washington politically and economically. Analysts worry that this move could threaten the stability of the USMCA trade agreement altogether.
Canada’s tariff counterpunch: Where Ottawa is hitting Donald Trump’s America
Canada has imposed retaliatory tariffs on a wide range of American goods. These measures target sectors like steel, dairy, and appliances, impacting US exports. The move escalates a trade dispute as the US approaches midterm elections. Canada's actions aim to pressure American businesses and states with strong trade ties. This escalation follows collapsed trade negotiations between the two neighboring countries.
US bans Canadian dairy, motorcycles and alcohol imports as trade war deepens
The United States is banning Canadian dairy products and motorcycles. This action escalates the ongoing trade war between the two nations. Canada previously imposed retaliatory tariffs on American imports earlier today. Prime Minister Mark Carney vowed to reduce dependence on the United States. Both countries remain in contact, exploring potential paths forward.
Canada's retaliatory tariffs take effect as US trade talks stall
Canada has implemented retaliatory tariffs on American products after trade negotiations collapsed last month. These new duties affect twenty billion dollars worth of United States goods, ranging from steel to electronics. The dollar-for-dollar retaliation escalates an eighteen-month trade dispute between the neighboring countries. Rising tensions create uncertainty regarding the broader United States-Mexico-Canada free trade agreement. Canadian Prime Minister Mark Carney seeks leverage while aiming for a mutually beneficial trade deal.
Canadian PM Mark Carney ready to strike trade deal with US as tariff deadline looms
Canada is ready to negotiate a trade deal with the United States. Washington imposed significant tariffs on Canadian goods, prompting retaliation. This trade dispute strains the deeply integrated Canada-US economic relationship. Canadian industries, particularly in Ontario and Quebec, face considerable challenges. Canada is now actively seeking to diversify its export markets beyond the US.
Canada excludes US seafood from retaliatory tariffs
Canada has officially announced the removal of tariffs on seafood and fish products after listening to feedback that highlighted economic concerns. As part of this strategic adjustment, Canada plans to align its duties with those imposed by the US, matching them dollar for dollar on American imports. This new tariff structure will come into effect on September 8, focusing on targeted industries to mitigate effects.
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