Squawk Pod 5 Things to Know Before the Opening Bell 7/11/2025
Jul 11, 2025
Discover the latest buzz in financial news as new tariffs on Canada are set to reshape trade dynamics. Follow Marco Rubio's international journey in Asia and what it means for diplomacy. Google's partnership to provide cloud services for the government raises eyebrows in tech circles. Exciting product launches are on the horizon for Apple, hinting at fresh innovation. Plus, Flutter's moves to acquire FanDuel highlight the evolving landscape of gaming and entertainment.
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Trump Slaps Canada with 35% Tariffs Over Fentanyl Crisis
President Trump announced a new 35% tariff on imports from Canada, effective August 1st, citing fentanyl as a key reason for this aggressive trade move.
In a letter posted on Truth Social addressed to Prime Minister Mark Carney, Trump directly linked the tariffs to concerns over fentanyl originating from Canada.
This move escalates trade tensions significantly between the two nations and may impact cross-border commerce deeply.
Additionally, Secretary of State Marco Rubio met with China's foreign minister in Malaysia, hinting at the possibility of a Trump-Xi summit to address ongoing trade issues.
Tariffs and Trade Tensions
- President Trump announced a 35% tariff on imports from Canada, citing fentanyl as a reason.
- Marco Rubio's meeting with China's foreign minister signals ongoing trade tensions and hints at a likely summit between Presidents Trump and Xi.
Google Joins Govt Cloud Race
- Google is set to provide cloud computing services to the U.S. government at a heavily discounted price.
- This deal mirrors a similar contract recently cut by Oracle, showcasing major tech firms' growing government involvement.