Other new items facing a 50% levy include certain glass containers, printed pictures and plaster tiles from the U.S.

Merchandise imports climbed 3.7%. The advance was fueled by the largest increase in capital goods — a category that includes computers and accessories, semiconductors and telecommunications equipment — since 1993. 

The two economies remain intertwined, and much could be at stake if Trump’s trade war reaches more of the energy, materials and supply chains that the U.S. still relies on Canada to provide.

As the shape of the war has morphed over the past half year, so, too, have the goals. One of the prime goals now — reopening the Strait of Hormuz — was not one of Trump's original objectives. 

About 6 million to 8 million barrels a day of crude are now being shipped through the world’s key oil chokepoint, according to estimates from oil traders involved in and monitoring cargo activity.

Oil prices are steady as talks between Iran and Oman on increasing energy flows in the Strait of Hormuz helped ease prices this week. Brent crude, the international standard, climbed 0.5% to $87.36 per barrel.

U.S. Trade Representative Jamieson Greer said he was clear that medium- and heavy-duty trucks would be excluded from tariff relief, as officials sparred over which side was responsible for the failure of the talks. 

The U.S. and Canada should stop targeting each other with aluminum tariffs, according to industry groups, and instead forge a common front against China.

A major interstate project in Tennessee that will add toll lanes to help ease congestion on crowded corridors has taken a key step forward.

President Trump suggested he was open to changing federal regulations on beef processing, as the administration continues to target high meat prices as a priority.

Loblaw Cos., the largest Canadian-owned grocery chain, is bringing back signs that shoppers used in 2025 to avoid U.S. products as they protested tariffs from President Trump.

U.S. diesel supplies have fallen to the lowest seasonal Mark ever, threatening to push prices even higher for the global economy’s workhorse fuel.

Hyundai aims to challenge Toyota in the hot U.S. hybrid market and defend against low-cost Chinese rivals in the rest of the world. 

Iranian officials have repeatedly warned that a deal with Oman on the strait’s navigation would not equate to an immediate re-opening of the waterway.

Despite the bravado coming from both sides of the border, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants.

Prices rose 3.7% in July compared with a year earlier. Inflation has worsened since the Iran war began in late February, when it stood at 2.9%. 

Consumer spending — which accounts for about 70% of U.S. economic activity — increased at a healthy 3.4% annual clip, up from 0.5% in the January-March period.

The oil market is down as tensions have grown after the Trump administration announced new sanctions aimed at inflicting more pain on Iran’s economy. Brent crude dropped 2.4% to $85.17 a barrel.

Arc Agent connects with its existing transportation management systems as well as third-party applications to extract, validate and process information.

Demand to urgently pass through the waterway has soared after the Iran war upended global trade routes, particularly to Asia.