France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
AI Memory Boom Sparks Global Chip Supply Crunch 
Wall Street Ends Mixed as Alphabet Slumps, Middle East Developments and Fed Outlook Weigh on Markets 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
Oil Prices Fall as Iran Peace Talks Progress, Hormuz Reopens, and U.S. SPR Hits 1983 Low 
How Donald Trump has changed the way diplomacy is done 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
New Zealand Fast-Tracks Gold Mining as Industry Revival Gains Momentum 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Singapore Inflation Stays Muted in May as Core CPI Misses Forecasts Ahead of MAS Review 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Oil Prices Drop as U.S.-Iran Talks Ease Supply Concerns 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Tensions between the United States and Canada have risen sharply as Canada's new "strategic partnership" with China has triggered a rapid upsurge. By lowering tariffs on up to 49,000 Chinese electric cars from 100% to 6% in exchange for better access for Canadian agricultural products like canola, Ottawa has created a schism with Washington. President Trump warned on Truth Social in response that he could levy 100% taxes on all Canadian goods should Canada develop into a "Drop Off Port" for Chinese products entering the American market.
Insisting Canada has "no intentions" and "no plans" to negotiate a complete free trade deal with China and reiterating Canada's support of the USMCA structure, Prime Minister Mark Carney has tried to restrain the fallout. Still, US authorities openly criticize: Treasury Secretary Scott Bessent saw the decision as a retreat from the previously harmonized US–Canada hard line on Chinese imports. For its part, China insists the agreement is limited and sectoral and not directed at the United States.
At a delicate time—with a USMCA review set for later in 2026—the disagreement ends. Though almost 80% of Canadian products already enter the United States duty-free, Trump's tariff threats and the EV deal increase the risk of new trade restrictions on key Canadian exports, including scrap metal, aluminum, and autos. Already evident in the increased USD/CAD volatility is the volatility. Though Carney has depicted Trump's cautions as a hard-nosed negotiating strategy ahead of USMCA discussions, the show emphasizes how flashpoints in North American trade relations are Chinese EVs and North American industrial policy.
