A trade war between Canada and the US further ruptures a once-close and durable alliance
TORONTO (AP) — Canada and the United States have long had one of the world's closest and most durable alliances. But that alliance is being severely tested now by one of the deepest crises in decades. Trade talks between Ottawa and Washington collapsed late Friday and both countries are imposing matching 50% tariffs. Canadian Prime Minister Mark Carney says “America has changed” and Canada will not return "to our old relationship.” The rupture threatens a relationship built on decades of free trade, integrated supply chains and close political ties. Experts say the confrontation could outlast President Donald Trump's tenure in the White House and reshape Canada-U.S. relations for years.
Trump's trade war with Canada: A timeline of how we got here
CHICAGO (AP) — President Donald Trump’s barrage of tariffs and threats of even more levies has quickly strained the United States’ longstanding relationship with Canada. Over the course of his second term in office, Trump has threatened Canada’s economy and sovereignty with steep import taxes on its goods. That's outraged Canadians and created uncertainty for businesses and consumers across both countries, leading to Canada's retaliatory measures. Trump has now followed through on his threat to impose 50% U.S. tariffs on $20 billion worth of Canadian imports starting Saturday. Canadian Prime Minister Mark Carney immediately promised to match the new import taxes.
What to know about Trump's 50% tariffs on Canadian goods that just went into effect
CHICAGO (AP) — After trade negotiations crumbled down to the eleventh hour, U.S. President Donald Trump’s 50% tariffs on scores of Canadian imports kicked in Saturday. The new levies are expected to affect roughly $20 billion of Canadian goods, ranging from hockey sticks to agricultural products. And Canada’s Prime Minister Mark Carney quickly promised that his government would roll out “dollar for dollar” retaliatory measures starting Sept. 8. The latest escalation between the two countries — which once held one of the world’s most durable trade alliances — plunges them deeper into a trade war that has kept both sides of the border on edge throughout Trump’s second term in office.
Chinese humanoid robots smash human records in 100m sprint and high jump at Beijing robot games
BEIJING (AP) — Chinese humanoid robots have set records including beating Usain Bolt's 100-meter sprint record at the World Humanoid Robot Games in Beijing. The event opened on Saturday and it's in its second year. It features more than 2,000 robots in 51 events like running, table tennis and soccer. The five-day spectacle highlights China's rapid progress in robotics amid a heated tech race with the U.S. A humanoid robot achieved 9.39 seconds in a 100-meter sprint. That beat the human record of 9.58 seconds set by Bolt in 2009. Experts say humanoids are still mainly used for performance and research and still have a long way to go before they enter the real-word for mass deployment.
Why the bond market is flexing its muscles, and why everyone needs to care
NEW YORK (AP) — The bond market is one of the few forces in the world strong enough to get politicians to snap to attention. It also helps dictate how much ordinary people have to pay on their mortgages and car loans, as well as how much they earn from their savings accounts and 401(k) plans. This week rising bond yields forced the U.S. Treasury Department into an unusual intervention and raised the specter of higher borrowing costs putting the brakes on consumer spending, the lifeblood of the economy. It also sparked concerns that investors might finally be thinking twice about financing a seemingly endless flow of government borrowing.
Trump urges court to reject BBC's bid to secure records from his family in defamation case
WASHINGTON (AP) — President Donald Trump has urged a federal judge to reject the BBC’s request for the court’s help in securing testimony and documents from three members of the president’s family in response to his $10 billion defamation lawsuit against the British broadcaster. In a court filing Friday, Trump's personal attorneys argued that the BBC is trying to gain politically driven leverage over the president by serving subpoenas on Ivanka Trump, her husband Jared Kushner and Donald Trump Jr. A judge in Miami didn’t immediately rule. Trump’s lawsuit accuses the BBC of deceptively editing portions of a speech he gave to supporters who stormed the U.S. Capitol on Jan. 6, 2021.
US and Canada fall deeper into a trade war with new tariffs as talks collapse and blame is spread
WASHINGTON (AP) — The United States and Canada have fallen deeper into a trade war. New tariffs are expected to raise prices for products in both countries. Each side is blaming the other for the collapse of negotiations in Washington late Friday. That's led the U.S. to impose 50% tariffs on $20 billion worth of Canadian goods and Canada setting Sept. 8 as the start of its retaliatory penalties. President Donald Trump’s import taxes will hit about 5% of what Canada ships to the United States every year, ranging from hockey sticks to tongue depressors. Prime Minister Carney said Ottawa would respond with targeted tariff protection for industries exposed to the new U.S. duties. No new talks are planned.
How bitcoin and gold went from a slump to an MVP week in just a few days
Bitcoin and gold shot higher this week, with both getting a boost from some frantic action surrounding the bond market, and the cryptocurrency also benefiting from activity in Washington. Both bitcoin and gold had fallen sharply from their highs set in January. They each got a jolt Wednesday when the Treasury Department announced plans to significantly increase bond purchases to push down interest rates. Bitcoin got more help from President Donald Trump, who urged Congress to move quickly on crypto legislation. A dollar sell-off also help gold and bitcoin as investors moved toward alternative assets.
Mexican ranchers prepare to resume livestock sales to US under tight controls over screwworm risk
HERMOSILLO, Mexico (AP) — Ranchers in northern Mexico are preparing to resume cattle exports to the U.S. as a yearlong ban ends. The ban was imposed due to a parasite outbreak affecting cattle industries on both sides of the border. The U.S. plans to restart imports on Aug. 24 at the Douglas, Arizona, crossing. New restrictions will be in place to prevent parasite spread. Mexico has reported nearly 2,000 active cases, showing signs of containment. Ranchers are optimistic but cautious, as new U.S. controls may slow shipments. The ban had previously cut ranchers' income by 40%.
Florida shows how to adapt as coastal cities face growing threats from sea level rise and storms
As climate change makes cities around the world unlivable, one city is using art and new infrastructure to adapt. In Miami, where hurricanes and flooding can be frequent, a park reestablished hammocks that serve as a sponge for rainfall and saltwater flooding. New housing developments by Jeffrey Huber can survive up to 20 feet of storm surge. Some 129 million people — nearly 40% of the U.S. population — live in coastal counties. Recent research shows that rising sea levels driven by humans has increased the frequency of extreme coastal flooding around the world.
