Tangent
Trump suggested during the signing ceremony Thursday he could change the name of the Pacific or Atlantic Ocean next, so that America has a gulf, lake and ocean named after it, though it’s unclear if he was serious. Trump renamed the “Gulf of Mexico” to the “Gulf of America” in a January 2025 executive order.
Read more Twitch Reports Major Outages After ‘GTA 6’ Trailer Drops
Key Background
Trump implemented 50% tariffs on about $20 billion in Canadian goods to take effect on Saturday. He initially threatened the tariffs in July, pending a 30-day negotiating period. The tariffs impact alcohol, dairy, cars and also include obscure products such as sledgehammers, tortoise shells and Christmas decorations. The move prompted Canada to announce on Tuesday tariffs ranging from 15% to 50% on 700 U.S. products, effective Sept. 8. The tariffs are unlikely to have a significant impact on either country’s economy—the U.S. tariffs impact about 5% of Canadian exports, and the Canadian tariffs affect about 6% of U.S. exports, according to the Wall Street Journal. But Canada’s tariffs are also designed to put “political pressure” on the Trump administration by targeting specific states with competitive midterm elections, Canadian Industry Minister Melanie Joly said, as economic concerns and Trump’s low approval rating could threaten Republicans’ reelection chances.
further reading
Canada Imposes 50% Tariffs On Hundreds Of U.S. Products—Doubling Steel And Aluminum Tax (Forbes)
Read more Jensen Huang Passes Zuckerberg And Ellison In Billionaire Ranks As Nvidia Pops 9%
Trump And Canada In Trade ‘War’: How Hockey Sticks, Puzzles And Wigs Played A Role (Forbes)
Trump Considers Renaming Lake Ontario ‘Lake America’ As Canada Trade Fight Deepens (Forbes)
Read more Space Force Hesitated Using Commercial Space Data Because Of Communication Gaps, Watchdog Finds