Bloomberg Daybreak: US Edition Trump Threatens Higher Canada Tariffs; Stocks & Bitcoin at All-Time Highs
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Jul 11, 2025 Tensions rise as President Trump threatens a hefty 35% tariff on Canadian goods, impacting market dynamics. Despite this, the stock market flourishes, with the S&P 500 reaching record highs. Bitcoin also hits all-time peaks. Furthering the drama, Trump plans a major announcement regarding Russia and sends more weapons to Ukraine. The podcast navigates through these remarkable economic shifts, blending trade issues and geopolitical developments.
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Trump's Tariff Threat on Canada
- President Trump threatens to impose a 35% tariff on some Canadian goods beginning August 1st.
- The tariff likely excludes most goods under USMCA and focuses on select products, but details remain unclear.
Tariffs' Emerging Impact on Inflation
- Tariffs have so far had a mild impact on inflation, but this is expected to change soon.
- Inflation may rise more significantly from June through September due to tariffs.
U.S. Weapon Support for Ukraine
- President Trump plans a major statement on Russia amid ongoing Ukraine conflict.
- The U.S. will facilitate NATO allies purchasing weapons for Ukraine to enhance support.