Canada to Implement New Tariffs Amid U.S. Tensions
Canada is set to impose new tariffs of up to 50 percent starting just after midnight, responding to threats from President Trump about potential retaliatory measures. The announcement comes alongside reports of a cargo plane crash in Miami.
Sources
The Federal Reserve raised interest rates by 0.25 percentage points, indicating potential further increases ahead under new leader Kevin Warsh, which puts him at odds with President Trump. The Trump administration plans to deliver 60,000 one-ton bombs to Israel amid growing opposition to arms sales, and U.S. intelligence reports suggest that China could acquire U.S. jet technology from Saudi Arabia through espionage linked to the sale of F-35 jets. Additionally, discussions around the impact of artificial intelligence on wage growth and employment reveal slower hiring in some sectors, particularly affecting younger workers.
The Federal Reserve raised its benchmark interest rate by 0.25 percentage points for the first time since 2023, aiming to combat resurgent inflation linked to rising energy prices. In the ongoing conflict with Iran, the U.S. military has incurred costs of at least $33.4 billion, primarily on munitions, not accounting for additional spending from other agencies. Additionally, a Government Accountability Office report revealed that the federal government paid $9.5 billion in leave costs in 2025, reflecting a 435% increase in paid administrative leave from 2023 to 2025.