
Isaiah Collier with the great assist!
U.S. President Donald Trump is threatening to slap a 35 per cent tariff on all Canadian goods as the two countries have been engaged in negotiations to reach some sort of trade agreement.Trump's latest threat came in a letter to Prime Minister Mark Carney that the president posted to his social media site, Truth Social, on Thursday evening."There will be no tariff if Canada, or companies within your country, decide to manufacture product within the United States," the letter read.Trump said the tariffs will take effect on Aug. 1, and wrote that he will increase the levies if Canada retaliates.Trump and Carney have been locked in negotiations to come to some sort of trade resolution by July 21. Carney's office said he had received the letter, and the prime minister said in a social media post he was committed to defending Canadian workers and businesses.While Carney said Canada would negotiate to the revised deadline date, he also added the country was "strengthening our trade partnerships throughout the world."In his letter, Trump again cited fentanyl "pouring" into the U.S. from Canada — even though data continues to show that minimal amounts of the drug are crossing the Canada-U.S. border compared to the U.S.'s southern border.Trump has been complaining about fentanyl crossing the northern border since he was re-elected in November. After taking office, he imposed tariffs he said are designed to punish Canada for not doing enough to crack down on the fentanyl drug trade.Carney said in his statement that Canada had made "vital progress" in stemming the flow of fentanyl."We are committed to continuing to work with the United States to save lives and protect communities in both our countries," he said.Canada's fentanyl czar Kevin Brosseau, right, is seen with Denver, a Canada Border Services Agency narcotics detection dog, during a tour of the CBSA Lansdowne port of entry in Lansdowne, Ont., on Feb. 12. (Spencer Colby/The Canadian Press)Now, the president seems to be taking the border-related tariffs a step further by promising a 35 per cent levy. The U.S. is currently imposing a 25 per cent tariff on all non-CUSMA compliant goods coming from Canada and a lower 10 per cent rate on energy and potash as part of a border-related tariffs regime.Ottawa announced a $1.3-billion investment in border security and named a fentanyl czar to address the concerns coming from the White House.The U.S. has also hit Canadian steel, aluminum and autos with an import levy, which have been particularly damaging to the Canadian economy, leading to job losses and a drop in exports.WATCH | Trump threatens 35% tariff on all Canadian goods:Trade negotiations underwayTrump has also been promising to slap a 50 per cent tariff on copper coming into the U.S. According to federal data, Canada exported some $9.3 billion worth of copper and copper-based products in 2023, with a majority of that — 52 per cent — going to the U.S. China and Japan followed, with 17 and 12 per cent of Canadian exports, respectively.Although he primarily cited fentanyl in his Thursday letter, Trump also listed other irritants, such as Canada's supply management system.Carney and Trump have been having direct conversations with each other, and the two agreed to try to resolve trade disputes this month when the president was in Alberta for the G7 summit in June.Foreign Affairs Minister Anita Anand said just Thursday morning that she was hopeful an agreement could be reached by the July 21 deadline.WATCH | Foreign affairs minister 'still hopeful' trade deal can be reached:"This is an effort that we are putting all our weight behind, it is necessary for the health of our economy," Anand told reporters from Malaysia, where she is attending the Association of Southeast Asian Nations (ASEAN) summit as part of a tour of the Indo-Pacific region."We are still hopeful that an agreement can be achieved."Trump targets other countries with threatening lettersConservative Leader Pierre Poilievre took to social media Thursday evening to blast the latest tariff threat as "unjustified.""All Canadians must come together to defend our economy. Conservatives stand ready to do everything we can to secure the best deal for Canada by the July 21 deadline," he wrote in a post on X."Our country stands united."Lara Payne, president of Unifor, which represents some 320,000 employees including auto and steel workers, characterized it as "extortion.""Workers are counting on our [government] to defend their jobs," said Payne. "Concessions won't stop a bully, but collective strength will."WATCH l Few details available on any deals as Trump takes 'maximalist approach:Last week, the Liberal government announced it would rescind its digital services tax on the eve it was to take effect. Trump demanded the tax be eliminated and cut off Canada-U.S. trade negotiations just days before the announcement.Trump's letter to Carney was posted just a day after the president posted multiple other letters to social media, threatening tariffs on other countries, including: Brazil, the Philippines, Brunei, Moldova, Algeria, Libya, Iraq and Sri Lanka.
3:54
Now Playing
Paused
Ad Playing
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
12 minutes ago
- Yahoo
Magyar Bancorp Third Quarter 2025 Earnings: EPS: US$0.40 (vs US$0.27 in 3Q 2024)
Magyar Bancorp (NASDAQ:MGYR) Third Quarter 2025 Results Key Financial Results Revenue: US$8.71m (up 20% from 3Q 2024). Net income: US$2.47m (up 46% from 3Q 2024). Profit margin: 28% (up from 23% in 3Q 2024). The increase in margin was driven by higher revenue. EPS: US$0.40 (up from US$0.27 in 3Q 2024). AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. All figures shown in the chart above are for the trailing 12 month (TTM) period Magyar Bancorp shares are up 1.4% from a week ago. Risk Analysis We should say that we've discovered 1 warning sign for Magyar Bancorp that you should be aware of before investing here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 minutes ago
- Yahoo
Could a Canadian Zohran Mamdani win an election here? Party insiders have hopes — and tips
A former Ontario MPP says the NDP should be looking south to inspire their new federal leader As the federal New Democratic Party starts its search for a new leader, one former Ontario MPP says the NDP should be looking south for inspiration: Zohran Mamdani. Joel Harden tells Yahoo Canada there is an appetite for policies similar to the New York City mayoral hopeful's here — Canadians just need to see a candidate embrace those ideas. 'Canadians are hungry for these ideas,' Harden said. 'They're hungry for a candidate and a campaign that can lead them to believe that if we vote for this, there's a good likelihood these things will happen.' Mamdani, 33, beat former New York state governor Andrew Cuomo after polling at just 2 per cent earlier in 2025. Mamdani will now be the Democratic nominee for mayor of New York City. The democratic socialist is campaigning on policies like free transit, a $30 minimum wage, increased taxes on the super-rich, rent freezes and government-run grocery stores. Mamdani's underdog campaign was praised by Toronto Metropolitan University political science professor Bryan Evans, who told Yahoo Canada the reason Mamdani won was his focus on affordability, followed by a direct communication style that used humour effectively to connect with people. A team of about 50,000 volunteers also canvassed for Mamdani across New York. Cuomo was the favourite to win, despite not having a great track record as governor, including accusations of bullying, corruption, and sexual harassment. 'You add all that up… it's quite the remarkable achievement,' Evans said. Jared Walker: Mamdani ran 'relatable' campaign that resonated amid affordability crisis Former NDP speech writer and executive director of the non-profit Canadians for Tax Fairness, Jared Walker, told Yahoo Canada that Mamdani had an air of authenticity that other politicians have struggled to achieve. 'He's talking about affordability in a relatable way,' Walker said. '(It is) spoken by a messenger that is believable on the issue.' Walker said Mamdani's platform could just as easily work in Canada, and that all of his policies have at least been discussed at one point by the NDP. That makes the main lesson from his success how he communicated those policies and connected with voters, according to Walker. He admitted that the federal NDP could do a better job at those campaign elements, but attributed the party's poor showing in the last election to U.S. President Donald Trump's threats of making Canada the 51st state, which the Liberals were able to capitalize on. Praise for Mamdani from Ontario NDP leader: 'We're inspired' Ontario NDP Leader Marit Stiles congratulated Mamdani after his win in a post on X. 'What you've built goes far beyond New York City,' she said. 'You've captured the imagination of progressives everywhere with a blueprint for how we can win: with hope, with values, and with the belief that politics can be a force for good. We're watching — and we're inspired.' Could a Canadian Mamdani be victorious? But some political analysts suggested Mamdani was a tough sell as a mainstream politician given his democratic-socialist policies and years-long support for Palestine, often breaking with U.S. Democrats to call for a ceasefire and call out Israel's breaking of international law. Top Democrats still have not endorsed Mamdani. Former NDP MPP Sarah Jama was expelled from the party's caucus for a statement shortly after Hamas' October 7, 2023, attack on Israel that was critical of Israel. In January 2025, Jama's application to run again as a member of the NDP was denied by party officials. She ran as an independent and lost. Jama was also censured by Ontario's legislature for wearing a keffiyeh in the hall, which was deemed political apparel and against a dress code. Harden, who also wore a keffiyeh in parliament and was ejected along with Jama, said it was a very difficult time but figures like Jama still have a future in politics. He praised how Mamdani has handled the issue, saying that he didn't fall into any political traps but stayed on message and was direct. Mamdani was also endorsed by Brad Lander, who was also running to be the Democratic nominee for mayor of New York City. Lander is a progressive Jewish comptroller, and Harden says this helped show Mamdani had no animus toward Jewish New Yorkers. 'I think the world is ready for adult conversations that don't succumb to the gotcha politics and traps that some folks will lay,' Harden said. 'It is really important that everybody anywhere in the world can feel safe being who they are, can advocate for the things they believe without being smeared or mischaracterized.' Election data from New York City's mayoral Democratic primary showed a surge of young voters. Mamdani was clearly able to mobilize this demographic. New rules for the NDP's search for a new federal leader might have already taken notice. Signatures gathered by prospective leaders are now required to include at least 10 per cent from NDP members under 25 years of age.
Yahoo
12 minutes ago
- Yahoo
SouthState Second Quarter 2025 Earnings: Beats Expectations
SouthState (NYSE:SSB) Second Quarter 2025 Results Key Financial Results Revenue: US$657.3m (up 56% from 2Q 2024). Net income: US$215.2m (up 63% from 2Q 2024). Profit margin: 33% (up from 31% in 2Q 2024). The increase in margin was driven by higher revenue. EPS: US$2.12 (up from US$1.74 in 2Q 2024). Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. All figures shown in the chart above are for the trailing 12 month (TTM) period SouthState Revenues and Earnings Beat Expectations Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Banks industry in the US. Performance of the American Banks industry. The company's share price is broadly unchanged from a week ago. Risk Analysis You should always think about risks. Case in point, we've spotted 1 warning sign for SouthState you should be aware of. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data