World Report August 29: Friday's top stories in 10 minutes
Aug 29, 2025
Small businesses in Canada are preparing for the end of a crucial duty-free exemption due to U.S. tariffs, raising concerns about economic impact. Violent protests erupt in Jakarta, showcasing civil unrest. A man wanted on a Canada-wide warrant is dead following a shootout with Calgary police. In Nova Scotia, the Long Lake wildfire has devastated 20 homes. Excitement builds as Nordspace gears up to launch its first commercial rocket from Newfoundland's spaceport.
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Small Business Stops U.S. Shipments
- Christy Sumer of Encircled stopped U.S. shipping because tariff changes made costs and processing uncertain.
- She hopes Canadian shoppers will support local fashion while she figures out reopening U.S. sales.
Test Changes Before Permanent Cuts
- Jen Harper is testing temporary measures to measure tariff impacts before committing long-term.
- John Boscariol suggests watching trade negotiations for possible restoration of de minimis rules.
Tariffs Could Push GDP Down
- Economists expect Q2 GDP to slow sharply as U.S. tariffs reduce exports and trade-driven growth wanes.
- Weak growth and easing inflation increase the likelihood the Bank of Canada will cut interest rates.