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Canada has dramatically hiked duties on American steel imports after Donald Trump shut down trade talks. The country imposed an import quota late Friday and if it is exceeded, certain US metal will face a new 50 percent surcharge. Canada's Finance Minister, François-Philippe Champagne, said the government was acting to protect domestic industry from 'unjust US tariffs,' NBC News reported. The response came hours after Trump posted on Truth Social about how Canada is a 'very difficult country to trade with.' His reason for suspending trade negotiations came down to a tax Canada is set to impose on major tech...

OTTAWA – Canada’s insistence on taxing American tech companies for Canadian-sourced revenue has prompted the U.S. to walk away from ongoing trade negotiations. In a social media post on Friday, U.S. President Donald Trump announced an immediate suspension of trade and tariff talks with Canada due to the Digital Services Tax (DST) – describing it as “egregious” and a “direct and blatant attack” on the U.S. “Based on this egregious tax, we are hereby terminating all discussions on trade with Canada, effective immediately,” Trump wrote on TruthSocial. “We will let Canada know the tariff that they will be paying to...

Donald J. Trump @realDonaldTrump We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country. They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective...

On June 1, 2025 crude oil was $60.00 per barrel. As of this morning crude oil is $76.50 per barrel. Today will be a slow trading day as it is a holiday.

Tehran says it can destabilize global energy security — and that it’s a direct consequence of the Zionist regime’s actions.

President Donald Trump on Wednesday hailed a favorable decision by a federal appeals court over his sweeping tariff policy as a “great” win for the United States. Trump said on his social media site that the court’s decision Tuesday night to let the government keep collecting his sweeping import taxes while challenges to his signature trade policy continue on appeal means the U.S. “can use TARIFFS to protect itself against other countries.” “A great and important win for the U.S.," Trump wrote. The decision by the U.S. Court of Appeals for the Federal Circuit extends a similar ruling it made...

The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing. American and Chinese negotiators agreed “in principle” to a framework on how to implement the consensus reached by the previous round of talks in Geneva last month and a phone call between the two countries’ leaders last week, China’s trade negotiator Li Chenggang told reporters in London, according to Chinese state broadcaster CGTN. Officials on both sides will...

A call between President Trump and Chinese President Xi Jinping has taken place, according to Chinese state media. The bulletin from China was not immediately confirmed by Trump or his team. It offered no immediate details about the call itself other than to say the talks took place and that they happened at Trump's request. Either way, the apparent call would be a significant step in Trump's highest-stakes trade talks and the first time Trump and Xi have spoken since Trump's inauguration. The long-awaited call also comes at a fraught moment for US-China trade talks, which Treasury Secretary Scott Bessent...

The U.S. trade deficit in goods and services narrowed sharply in April, falling to $61.6 billion from $138.3 billion in March—the largest monthly improvement on record—driven by a steep drop in imports and continued strength in American exports. The 16.3 percent decline in imports, the biggest on record, coincided with the introduction of new U.S. tariff schedules and followed months of accelerated purchasing by companies anticipating higher duties. Analysts noted that much of the shift reflected a hangover after months of elevated imports as businesses rushed to bring in goods ahead of the tariff hikes. At the same time, exports...

The Congressional Budget Office (CBO) projects that recent U.S. tariff increases will reduce federal deficits by $2.8 trillion over the next decade, primarily through increased customs revenue and lower interest payments on federal debt—more than enough to offset the projected cost of President Donald Trump’s proposed tax cut bill. In a separate analysis, the CBO recently estimated that extending the 2017 tax cuts, as proposed in the administration’s new tax and spending bill, would increase the deficit by roughly $2.4 trillion over the same period. That legislation would reduce federal revenues by $3.67 trillion while cutting spending by $1.25 trillion,...

If we cut through all the polite pretending, Commerce Secretary Howard Lutnick appears on Fox News to tell the bobble head the nation specific tariffs are going to hit regardless of what approaches need to be taken. President Trump is going to remain focused on structural changes to the global economic system of trade, manufacturing and USA commerce despite all of the grandiose efforts of the multinationals and their Lawfare foot soldiers.As Lutnick again repeats, there are a variety of legal mechanisms that can be used to enforce the tariff program triggered by President Trump. Adhering to them is not...

More than 500 years ago in the midwestern Guatemalan highlands, Maya people bought and sold goods with far less oversight from their rulers than many archeologists previously thought....the ruling K'iche' elite took a hands-off approach when it came to managing the procurement and trade of obsidian by people outside their region of central control.In these areas, access to nearby sources of obsidian, a glasslike rock used to make tools and weapons, was managed by local people through independent and diverse acquisition networks. Overtime, the availability of obsidian resources and the prevalence of craftsmen to shape it resulted in a system...

According to sources, a stern President Trump took the Fed head, Jay Powell, to the woodshed yesterday during their Oval Office meeting.Mr. Trump wants the Fed to lower its target rate. And equally, of course, Mr. Powell has stubbornly avoided any policy changes.You know what? Mr. Trump is right.The latest inflation report out today shows the Fed’s favorite measure, the personal consumption deflator, has risen only 2.1 percent annually over the past three months, and the same 2.1 percent over the past 12 months.The Fed’s target is 2 percent.So, you would think Mr. Powell & Co. would at least be...

In light of the new wave of liberal lawfare being waged against President Trump’s tariffs, it’s worth considering: do the liberals have a point? Rand Paul certainly thought so—recall that a few weeks ago he brought the Senate to a tiebreaking vote to halt the tariffs. This is because Article 1, Section 8, Clause 1 of the Constitution explicitly grants Congress the power to “lay and collect Taxes, Duties, Imposts and Excises” and to “regulate Commerce with foreign Nations”. Strictly speaking, Congress has these powers—not the Executive. However, Congress also has the authority to delegate powers to the Executive for...

There is no other way to say it: liberal judges are waging unrestricted lawfare against President Trump. First, they protected illegal immigrants from deportation—literally sheltering criminals from justice. Now, they’re protecting foreign governments and multinational corporations from President Trump’s tariffs. Case in point: yesterday, the U.S. Court of International Trade ruled the tariffs were illegal. Today, a second court followed suit. This is not surprising. Wall Street is engaging in total warfare against President Trump. Why? Because Wall Street profits tremendously from the trade deficit—to the tune of over $1.2 trillion per year. If President Trump is successful, this gravy...

We're getting a bit of federal court whiplash Thursday on the tariff front. As RedState reported Wednesday evening, in a pair of cases, the Court of International Trade (CIT) held that the Trump administration's actions on tariffs, invoking the International Emergency Economic Powers Act (IEEPA), exceeded the president's authority under the statute and thus violated the separation of powers set forth by the Constitution. The ink had barely dried on that decision before the administration appealed it to the Federal Circuit Court of Appeals. Now, that court has pressed pause on the lower court ruling. In a per curiam order...

Two courts ruled against the tariff policy enacted by President Donald J. Trump. On Wednesday, the U.S. Court of International Trade ruled that Trump’s tariff policy was unlawful, blocking a central tenet of the president’s agenda on the economy and trade. The Liberation Day reciprocal tariffs led to scores of nations lining up to renegotiate their deals. We’ve already inked our new one with the United Kingdom. D.C. District Court Judge Rudolph Contreras also ruled earlier today that the tariff policy was illegal, though he stayed his decision for 14 days to allow for the appeals process. Yet, before the...

SummaryTrump administration has said it will appeal court ruling Second federal court blocks some levies Markets see modest gains in response Analysts say even a pause provides valuable time May 29 (Reuters) - Senior Trump administration officials on Thursday downplayed the impact of a U.S. trade court ruling that blocked the most sweeping of President Donald Trump's tariffs, expressing confidence it would be overturned on appeal and insisting there are other legal avenues to employ in the interim. Financial markets, which have whipsawed wildly in response to every twist and turn in Trump's chaotic trade war, reacted with cautious optimism...

A federal judge on Thursday issued a preliminary injunction and ruled President Trump’s tariffs are unlawful under the International Emergency Economic Powers Act (IEEPA). US District Judge Rudolph Contreras, an Obama appointee said Trump’s tariffs are “unlawful.” Contreras said his preliminary injunction only applies to the two companies that filed suit, however, his ruling could open the door to more widespread injunctions. Contreras’ injunction is separate from the permanent injunction issued by a three-judge panel on the Court of International Trade. The Court of International Trade in New York on Wednesday said President Trump exceeded his authority to impose tariffs...

Key Points A U.S. trade court ruled that Trump had overstepped his authority by invoking an emergency law to impose sweeping tariffs on nearly every country. Economists at Goldman Sachs said the White House likely has a few tools at its disposal to ensure it is only a temporary problem. Lawyer James Ransdell said the ruling marks the first in many cases still pending — and is the first opinion “to really address the meat of the plaintiffs challenge.” ================================================================= U.S. President Donald Trump could still find a workaround after suffering a major blow to a core part of his...