The US and Canada could pull back from an all-out trade war. It's not clear that they will
WASHINGTON (AP) — The U.S. and Canada have ramped up their trade war, hitting each other with steep new tit-for-tat tariffs. Despite the bravado coming from both sides of the border over the past few days, though, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants. The prospects for compromise looked bleak Tuesday, with Canadian Prime Minister Mark Carney reacting to new 50% U.S. tariffs on certain Canadian goods by responding in kind on about $20 billion worth of American imports, including steel, dairy products, appliances and farm equipment. With the breakdown threatening to harm one of the world’s largest trading relationships, experts say there’s still time to avoid an even bigger trade war.
Canada strikes back at US with retaliatory tariffs as trade war escalates
TORONTO (AP) — Canada struck back at the United States with retaliatory tariffs on about $20 billion worth of American goods. The duties announced Tuesday included steel, dairy products, appliances and farm equipment, as the trade war between the once-friendly neighbors escalated sharply. The confrontation threatened one of the world’s largest trading relationships and further strained ties between the United States and a country long considered one of its closest allies. A prolonged dispute could raise costs for American businesses and consumers less than 2½ months before the midterm elections. The new tariffs extended well beyond industrial goods, hitting everyday purchases such as seafood, cheese, clothing, cosmetics and toilet paper.
Canada targets steel, fish and hundreds of other goods as Trump trade war escalates
CHICAGO (AP) — Canada has pledged to roll out “dollar for dollar” counter-tariffs on scores of U.S. goods next month, in response to President Donald Trump’s latest import taxes that have plunged the North American neighbors deeper into a bitter trade war. Ottawa released a lengthy list of more than 700 targets on Tuesday. After the clock strikes midnight on Sept. 8, Canada’s government says it will slap steeper import taxes on anything from fish and cheese to smartphones and steel sourced from the United States. The levies will vary from 15%, 25% and 50% — which its government said will match U.S. rates for not only goods Washington targeted in its latest round of tariffs, but also previously-imposed sectoral duties.
Trump's new economic squeeze on Iran has a big challenge: China
WASHINGTON (AP) — The Trump administration's new “economic onslaught” on Iran's financial connections around the world faces a challenge when it comes to China. Beijing is Iran's biggest trading partner. While the U.S. is trying to isolate the Islamic Republic, President Donald Trump also is preparing to host Chinese leader Xi Jinping next month to maintain a fragile trade truce. Treasury Secretary Scott Bessent's announcement this week lacked specifics about targeting China. That has raised doubts about how effective the new campaign will be when the Trump administration must balance putting maximum pressure on Iran and avoiding higher tensions with China that could be costly to the U.S. economy.
Here's all the ways that data center controversies have transformed the midterm elections
HARRISBURG, Pa. (AP) — The snowballing opposition to data center projects in communities across the United States has transformed the midterm election landscape, thrown a wrench into the plans of the world’s richest companies and brought a defense from perhaps the industry’s biggest booster, President Donald Trump. In search of large tracts of land, tech giants and data center developers are exploring deeper into rural America. That's often uniting conservative ranching and farming communities with left-leaning environmental advocacy groups. Trump continues to stick up for data centers, even as politicians run from them. Meanwhile, governors who once pursued data center projects for their states are shifting their stances or taking steps to toughen regulations.
Asian shares mostly rise as oil prices fall and hope grows for AI
TOKYO (AP) — Asian shares are mostly higher as investors keep an eye on the ongoing talks over reopening the Strait of Hormuz, which remains largely shut down because of the war in Iran. The global interest in artificial intelligence has continued to boost some regional issues, while declining oil prices have helped gear up optimism in oil-importing nations like Japan. Resource-poor Japan imports virtually all its oil. Benchmarks rose in early Wednesday trading in Tokyo, Seoul, Hong Kong and Shanghai, while oil prices continued to fall. On Wall Street, the S&P 500 rose 0.3% and inched closer to its all-time high set earlier this month. The Dow added 0.3%, and the Nasdaq composite climbed 0.7%.
US consumer confidence falls to lowest level in 7 months with gas stuck above $4
WASHINGTON (AP) — Americans’ confidence in the economy declined this month as the ongoing Iran conflict has kept gas prices elevated at more than $4 a gallon. The Conference Board said Tuesday that its consumer confidence index dipped to 89.4 in August from 90.2 in July. That’s the lowest level in seven months but essentially in the same lukewarm range its been in since the beginning of the year. In late 2024 and early 2025 the readings were consistently above 100. Respondents’ views of their present situation improved, but their outlook for the near-term future soured.
Iran's gas lines are growing, but there's no sign so far that its leaders will bow to US sanctions
DUBAI, United Arab Emirates (AP) — Long lines have formed outside gas stations in Iran's capital as people rush to fill their tanks amid fuel shortages, fears of higher prices and new U.S. sanctions. On Tuesday, drivers reported waits of two hours or more. Washington is increasing economic pressure in hopes of forcing Iran to make concessions to end the war. Iranian officials accuse the U.S. of trying to foment internal unrest after failing to defeat Iran militarily. Iran’s broader economy suffers from double-digit inflation and its currency has hit a record low. Analysts warn of growing public frustration, though there is no sign yet of protests.
Brazilian data protection regulator fines TikTok's owner nearly $30 million over safety of minors
SAO PAULO (AP) — Brazil’s data protection regulator has fined TikTok parent company ByteDance more than 153 million reais or nearly $30 million because of alleged failures in the handling of personal data of children and teenagers. The move on Tuesday is the South American nation’s latest move against social media companies. The regulatory body said in its ruling that TikTok breached data privacy laws across both logged-in accounts and guest browsing sessions through the collection and processing of young users’ personal information without a valid legal basis or adequate safeguards.
A Chinese humanoid robot sets a new 100-meter sprint record at Beijing Games
BEIJING (AP) — A Chinese humanoid robot has set a new 100-meter sprint record of 8.86 seconds in Beijing. This achievement took place Tuesday during China’s World Humanoid Robot Games, an Olympic-style competition now in its second year. The previous robot record of 9.39 seconds had been set just three days earlier. For comparison, Usain Bolt holds the human world record at 9.58 seconds. The Games feature over 2,000 robots in 51 events like running, table tennis and soccer. The record-breaking robot fell after crossing the finish line, crashing into a padded barrier with sparks flying.
