What to make of Donald Trump's latest tariff threats?
Economist DT Cochrane reacts to Trump's latest tariff threat and how Canada should be responding.
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Winnipeg Free Press
21 minutes ago
- Winnipeg Free Press
Trump to make unprecedented second state visit to UK between Sept 17-19
LONDON (AP) — U.S. President Donald Trump will make an unprecedented second state visit to the U.K. between Sept. 17 and 19 when he will be hosted by King Charles II and Queen Camilla at Windsor Castle, Buckingham Palace said Monday. Trump, who is a big supporter of the royal family, particularly of the monarch, will be accompanied by his wife, Melania Trump during the three-day visit, the palace confirmed. No U.S. president has been invited for a second state visit. Trump previously enjoyed the pomp and pageantry of the state visit in 2019 during his first term when he was hosted by Charles' late mother, Queen Elizabeth II. The invitation for the second state visit from the king was hand-delivered by British Prime Minister Keir Starmer in February during a meeting at the White House. After reading it, Trump said it was a 'great, great honor' and appeared particularly pleased by the fact he will be staying at Windsor Castle, to the west of the capital. 'That's really something,' he said. Precedent for second-term U.S. presidents who have already made a state visit is usually tea or lunch with the monarch at Windsor Castle, as was the case for George W. Bush and Barack Obama. State visits are ceremonial meetings between heads of state that are used to honor friendly nations and sometimes smooth relations between rivals. While the king formally issues the invitation for a state visit, he does so on the advice of the elected government. The visit is seen as part of Starmer's effort to keep Trump close and lessen the impact of some of his polices on the U.K. The relationship between the two appears amicable, and has helped the U.K. from facing the sort of hefty U.S. tariffs that other nations are seeing. But like Trump's previous visit, it's unlikely he will be welcomed by all. Last time, a day of protests saw the flying of a giant blimp depicting Trump as an angry orange baby from outside Parliament. Lawmakers from Starmer's Labour Party have also questioned whether the honor should be extended to Trump at a time that he is supporting Israel's war in Gaza and threatening the sovereignty of allies such as Canada and Greenland. Charles could also face some challenges during the visit because he is head of state of both the United Kingdom and Canada, which Trump has suggested should become the 51st U.S. state. During a speech to the Canadian parliament in May the king highlighted Canada's 'unique identity' and 'sovereignty,' while echoing the words of the country's national anthem when he said 'The True North is indeed strong and free.' State visits to Britain are particularly prized by heads of state because they come with a full complement of royal pomp and circumstance, including military reviews, carriage rides and a glittering state banquet hosted by the monarch. The events normally take place in and around Buckingham Palace in central London. But like last week's state visit from French President Emmanual Macron and his wife Brigitte, the Trumps will stay at Windsor Castle. Buckingham Palace is undergoing extensive remodeling.
CTV News
an hour ago
- CTV News
U.S. senators aim to arm Trump with ‘sledgehammer' sanctions against Russia
U.S. senators on Sunday touted a bipartisan bill that would arm President Donald Trump with 'sledgehammer' sanctions to use against Russia, ahead of a visit by the U.S. special envoy to Ukraine. Trump has indicated he would be open to the sanctions bill as relations with Russian counterpart Vladimir Putin grow increasingly frosty. U.S. special envoy Keith Kellogg is due to begin his latest visit to Ukraine while Trump said he would make a 'major statement... on Russia' on Monday. Republican Senator Lindsey Graham said he had majority backing in the Senate for his bill, which was gaining momentum as Washington-led peace efforts in Ukraine have struggled to make headway. The bill would allow Trump 'to go after Putin's economy, and all those countries who prop up the Putin war machine,' Graham told broadcaster CBS news. Trump, who has repeatedly said he is 'disappointed' with Putin as Moscow unleashed deadly barrages of missiles against Kyiv, has hinted he might finally be ready to toughen sanctions. Trump held off for the past six months while he tried to persuade Putin to end the war. But the Republican president's patience appears to be wearing thin, telling reporters during a cabinet meeting at the White House Tuesday that Putin was talking 'a lot of bullshit' on Ukraine. Last week, Trump also agreed to send Zelensky more weapons, including through a deal with NATO which would involve the alliance purchasing U.S. weapons to send to Ukraine. On Thursday, Trump appeared to back the bill without detailing whether he would use it to slap sanctions on Moscow. 'They're going to pass a very major and very biting sanctions bill, but it's up to the president as to whether or not he wants to exercise it,' Trump told broadcaster NBC. Asked during a cabinet meeting about his interest in the bill, Trump said: 'I'm looking at it very strongly.' 'This congressional package that we're looking at would give President Trump the ability to impose 500% tariffs on any country that helps Russia,' said Graham, adding that those could include economies that purchase Russian goods like China, India or Brazil. 'This is truly a sledgehammer available to President Trump to end this war,' said Graham. 'Without a doubt, this is exactly the kind of leverage that can bring peace closer and make sure diplomacy is not empty,' the Ukrainian leader said about the proposed bill in an X post. Graham and Democratic Senator Richard Blumenthal were to meet NATO Secretary General Mark Rutte on Monday night. Blumenthal told CBS news they would also discuss the legally thorny issue of unlocking frozen Russian assets in Europe and the United States for access by Ukraine. 'The $5 billion that the United States has also could be accessed, and I think it's time to do it,' said Blumenthal.
Globe and Mail
an hour ago
- Globe and Mail
Walsh Pure Supply & Demand
The July WASDE report was released this morning from the USDA. December corn made a high at 418 after the numbers came out, but faded the rest of the day, closing at 412 1/4. December corn has support at 409, 400, and 393; resistance is at 416 and 420. New Crop New crop ending stocks were 1.66 billion bushels (bb), less than the trade expectation at 1.722 bb. The stocks/use ratio is now 10.8%, a reduction of half a percent from last month's report. Old Crop Old crop ending stocks were reduced to 1.34 bb, compared to the trade estimate at 1.352 bb and the June estimate at 1.365 bb. As mentioned in my article on Wednesday, exports were raised by 100 million bushels (mb). Feed and residual use was cut 75 mb based on indicated disappearance in the June 30 th Grain Stocks report. Old crop stocks/use is 8.75%. Global Global new crop ending stocks were also reported less than expected at 272.1 million metric tons (mmt), which is 3.1 mmt less than June. The trade estimate for global ending stocks prior to the report was 276.8 mmt. Old crop ending stocks saw a slight reduction from June at 285 mmt to 284.2 mmt. The dollar is starting to inch higher again, but it is still nowhere close to where it was at the start of the year. The weaker dollar gives the U.S. a price advantage versus Brazil, which should continue to help exports. With the large number of shorts, trade deals could get corn moving higher again quickly as seen with the rumors of a Chinese purchase announcement ahead of the Independence Day weekend. If you like this article and would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now Please consider the following trade idea: Sell 2 puts for a 10 1/2 cent credit or collect $525/Trade Package and pay 12 1/2 cents or $625 for the $4.25 call. This trade costs you nothing to put on, you actually get a $525 credit/Trade Package to put on the trade. If Dec corn hits $3.84 or lower buy back the entire spread, capping downside at $1,075 per spread. The low for the year on the continuous contract is $3.85. Profit = 45 1/2 cents or $2,275/Trade Package with corn at $4.60 at expiration, Profit = 85 1/2 cents or $4,275/Trade Package with corn at $5.00 at expiration, Profit = 135 1/2 cents or $6,775/Trade Package with corn at $5.50 at expiration ALL PRICES ARE FRIDAY'S SETTLEMENT – DEC '25 CORN CLOSED @ 412 1/4 If you like this article and would like to receive more information on the commodity markets, please use the link to join our email list Sign Up Now If you're ready to start trading, click the link below to open an account with Walsh Trading, Inc. Open An Account Hans Schmit, Walsh Trading Direct 312-765-7311 Toll Free 800-993-5449 hschmit@ Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member. Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. ('WTI') shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.
