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TORONTO (AP) — Canadian Prime Minister Mark Carney said Sunday his country has no intention of pursuing a free trade deal with China. He was responding to U.S. President Donald Trump's threat to impose a 100% tariff on goods imported from Canada if America's northern neighbor went ahead with a trade deal with Beijing. Carney said his recent agreement with China merely cuts tariffs on a few sectors that were recently hit with tariffs. Trump claims otherwise, posting that "China is successfully and completely taking over the once Great Country of Canada. So sad to see it happen. I only...

President Trump on Saturday threatened to impose a 100% tariff on goods imported from Canada into the U.S. over Canada's new partnership with China. "If Governor Carney thinks he is going to make Canada a 'Drop Off Port' for China to send goods and products into the United States, he is sorely mistaken," he wrote on social media. "China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life," he wrote. Trump said a new tariff would kick in if Canada strikes a deal with China. "It will immediately be...

President Donald Trump threatened on Saturday that he would implement 100% tariffs on Canada if it strikes a deal to become a "drop off port" for China. "If Governor Carney thinks he is going to make Canada a "drop off port" for China to send goods and products into the United States, he is sorely mistaken. China will eat Canada alive, completely devour it, including the destruction of their businesses, social fabric, and general way of life," Trump wrote on Truth Social. "If Canada makes a deal with China, it will immediately be hit with a 100% tariff against all...

China posted a jaw-dropping $1.2 trillion trade surplus in 2025—most of which came from the Global South, rather than the United States. Amid various other major events in global news—large-scale unrest in Iran, the stunning tactical raid directed against the Nicolas Maduro regime in Venezuela, and the ongoing spat between the United States and Denmark (and other European nations) over Greenland—one item has gone virtually unnoticed. China, the world’s second-largest economy, reported a $1.189 trillion trade surplus for 2025—meaning that the total value of its exports for the year exceeded its imports by that amount.

President Trump told reporters Sunday night that he was “inclined” to deny ExxonMobil any role in rebuilding Venezuela’s moribund oil industry after its CEO told him point-blank Friday that the South American country was “uninvestable” despite the recent capture of President Nicolas Maduro. “I didn’t like Exxon’s response,” Trump said to reporters on Air Force One as he departed West Palm Beach, Florida. “They’re playing too cute.” ExxonMobil CEO Darren Woods made the blunt assessment during a White House meeting of petroleum executives whom Trump was trying to persuade to restart production in Venezuela after more than 25 years of...

Ivory Package 1 (Natural History Museum Denmark) Credit: Mikkel Høegh A new genetic analysis of ivory artifacts from across Europe suggests that early Norse hunters ventured far into North American waters and likely interacted with indigenous North Americans as early as 985 CE, or over 500 years before Christopher Columbus’ “discovery” of the Americas. The scientists behind the potential historical discovery’s genetic and isotopic analysis show that the ivory was harvested from the tusks of Walruses that lived in the North Atlantic waters off of present-day Canada. Their study also found that the long distances and extreme weather that Norse...

Prime Minister Benjamin Netanyahu, President of Cyprus Nikos Christodoulides, and Greek Prime Minister Kyriakos Mitsotakis made a joint statement this evening following a trilateral meeting in Jerusalem. Prime Minister Netanyahu began: "This is not our first meeting. It's our tenth meeting. But I said in our discussions that I think it's the most consequential. The last time the three of us met was a short time before the October 7th massacre, before terror once again reminded us that stability in this region is never guaranteed, and that strength, clarity and cooperation are not options. They are a must." "The Middle...

Police, who held a line at the very gate of the European Parliament in Brussels, Belgium on Thursday were pelted with potatoes by angry farmers worried a new free trade deal will see their livelihoods and industry destroyed. A government-authorized protest for 50 tractors in Brussels turned into a demonstration with “around 1,000” tractors present and over 7,000 farmers on Thursday. While the protest largely passed off without incident, there were clashes at the European Parliament building, where farmers threw potatoes and eggs and received tear gas and water cannon in return. […] The farmers are protesting the forthcoming EU-Mercosur...

Downing Street insists the $40bn Tech Prosperity Deal between the US and UK that is on hold is not permanently stalled. The BBC reported on Tuesday evening that the prime minister’s office claimed that the UK remains in “active conversations with US counterparts at all levels of government” about the wide-ranging deal for the technology industries in both countries to cooperate. The agreement, previously billed as historic, was paused after the US accused the UK of failing to lower trade barriers, including a digital services tax on US tech companies and food safety rules that limit the export of some...

The United States trade deficit shrank dramatically in September, falling 10.9 percent to $52.8 billion as President Trump’s sweeping tariff policies began to reshape trade flows in line with the administration’s goals, according to data released Thursday by the Commerce Department.The deficit reduction reflected gains on both sides of the ledger. U.S. exports jumped 3.0 percent to $289.3 billion, the highest level in months, while imports rose just 0.6 percent to $342.1 billion. The combination produced the kind of outcome the Trump administration has sought: American goods finding stronger markets abroad even as the flow of foreign goods into the...

The trade deficit has narrowed to its smallest since mid-2020, down more than 35% over last year — and more proof that President Donald J. Trump’s America First trade agenda is working.Here’s what you need to know:U.S. exports are up 6% over last year — rising to their second-highest value on record — while Inflation-adjusted exports of consumer goods are the largest ever.The seasonally adjusted trade deficit with China has narrowed to its second-smallest since 2009.In the third quarter of 2025, real exports grew by a 4.1% annual rate and imports fell by around 5% — adding about 1% to...

SAN ANTONIO — When it comes to GameStop's eyebrow-raising "Trade Anything Day" – a promotion that encouraged customers to literally trade in anything (with some exceptions) at their local store this past Saturday – Texans didn't disappoint. At least, one customer up in North Texas didn't. GameStop shared that the zanier items brought in for trade-in credit at locations across the country included a bowling ball, a "full creepy doll collection," a speed limit sign and "Friends" on VHS. Up in Corsicana, a small Navarro County community about an hour south of Dallas, someone received trade-in credit for a lanky...

October’s haul set a new monthly high as Treasury data showed soaring customs receipts under President Donald Trump’s tariff program.Tariff revenues surged to $31.4 billion in October, setting a new monthly record as the Trump administration’s trade policies continue to remake U.S. trade flows and reshape the federal government’s balance sheet, according to newly released Treasury Department data. The Monthly Treasury Statement for October, published on Nov. 25 , shows net customs duties totaling $31.4 billion, surpassing all prior monthly readings and marking the strongest single-month tariff haul since the modern reporting era began. Treasury records show gross customs receipts...

The view that the stock market is in a massive bubble and bound to crash is incorrect over the medium term Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/3af620bb-6d5e-4281-879d-c3193e225803?segmentId=b385c2ad-87ed-d8ff-aaec-0f8435cd42d9 After the so-called “liberation day” tariffs announcement, the conventional wisdom about the US economy became very pessimistic....

It was, by any measure, a lot of red ink. When Volkswagen announced its third-quarter profits at the end of October, the German auto giant said it anticipated heavy losses for this year. The reason? It is taking a 5 billion euro hit from tariffs imposed in the American market. Likewise, the German sportswear manufacturer Adidas warned of a 120 million euro hit to its earnings, in part because the levies its trainers now face in the United States, while Toyota warned of a $9 billion hit from tariffs. For anyone following the corporate earnings season over the last month,...

PULSE POINTS❓WHAT HAPPENED: A 150-year analysis challenges conventional wisdom on the impact of tariffs, suggesting they lower prices and raise unemployment, contrary to establishment economic models.👤WHO WAS INVOLVED: Researchers Régis Barnichon and Aayush Singh from the Federal Reserve Bank of San Francisco conducted the study.📍WHEN & WHERE: The study analyzed data from 1870 to 2020 across the U.S., the U.K., and France, with findings published in November 2025.💬KEY QUOTE: “We find that a tariff hike raises unemployment and lowers inflation,” the authors stated in their working paper.🎯IMPACT: The findings challenge establishment economic models and suggest tariffs may work through demand-side...

China’s economy continues to drag as fresh October data shows weakening momentum across consumer spending, industrial output and fixed-asset investment. The latest numbers point to one of the steepest investment declines China has seen in decades, raising new concerns about the durability of Beijing’s recovery hopes and what the slowdown means for global markets. China’s October Data Shows Broad Softening Across the EconomyNew figures from the National Bureau of Statistics reveal that key engines of China’s economy decelerated again in October.Retail and Production Lose Momentum• Retail sales rose 2.9 percent year over year in October. This is down from the...

A sweeping new analysis of tariff policy spanning 150 years suggests that the economic establishment may have fundamentally misunderstood how tariffs affect prices and employment, a finding with profound implications for understanding President Donald Trump’s trade policy and the proper response by the Federal Reserve. Researchers at the Federal Reserve Bank of San Francisco examined major tariff changes from 1870 through 2020 across the United States, the United Kingdom, and France. Their conclusion challenges the conventional wisdom that dominated economic policy debates in recent years: when countries raise tariffs, prices actually fall, not rise. “We find that a tariff hike...

US President Donald Trump has signed an executive order allowing a range of food products, including coffee, bananas and beef, to escape his sweeping tariffs. The move comes as his administration faces mounting pressure over rising prices. While Trump previously downplayed concerns about the cost of living, he has focused on the issue since his Republican Party's poor performance in last week's elections. The dozens of products included on the White House's list of exemptions range from avocados and tomatoes to coconuts and mangoes. These goods, the Trump administration said on Friday, cannot be produced in sufficient quantities domestically. Trump...

The U.S. and Switzerland are getting close to signing a trade deal to lower tariffs of 39% that President Donald Trump slapped on the country in August. The president confirmed on Monday that White House officials were “working on a deal to get the tariffs a little lower.” “I haven’t set any number, but we’re going to be working on something to help Switzerland,” he told reporters in the Oval Office. “We hit Switzerland very hard. But we want Switzerland to remain successful,” he added, saying the country had been a “very good ally.” The tariff on Swiss exports could...