August 24, 2026
United States:
US Hits Canada With 50% Tariffs as Carney Vows to Retaliate
US-Canada trade talks fell apart just before a midnight deadline, with 50% tariffs hitting billions of dollars of Canadian goods and Prime Minister Mark Carney vowing to retaliate in a dispute that looks poised to intensify.
The US import taxes kicked in Saturday on hundreds of items from Canada, such as plywood, liquor, electrical equipment and hockey gear, totaling around $20 billion.
Europe:
Goldman Says Europe May Need €100 Gas to Build Winter Inventory
European gas prices will likely need to rise above €100 ($117) a megawatt-hour in December for the continent to rebuild enough inventory to last the winter, according to Goldman Sachs Group Inc.
Even a recent rally in Dutch front-month futures, Europe’s gas benchmark, won’t be enough to divert sufficient liquefied natural gas from Asia in the event that Middle East supply disruptions extend into next year, analysts Samantha Dart and Laura Cyr wrote in a note.
Asia:
Japan Bond Auctions Pose Another Threat to US Debt Yields
Two Japanese bond auctions next week may challenge US Treasury Secretary Scott Bessent’s efforts to subdue longer-maturity Treasury yields.
Japan is selling 10-year bonds on Sept. 1 and 30-year securities two days later. Poor demand may spur a selloff, an indication that higher yields are needed to sooth concerns over the government’s fiscal borrowings.
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