{"id":182085,"date":"2026-08-25T10:34:22","date_gmt":"2026-08-25T10:34:22","guid":{"rendered":"https:\/\/www.europesays.com\/canada\/182085\/"},"modified":"2026-08-25T10:34:22","modified_gmt":"2026-08-25T10:34:22","slug":"in-u-s-canada-trade-war-trump-says-they-are-the-worst-canada-trade-envoy-says-kiss-my-ass","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/canada\/182085\/","title":{"rendered":"In U.S.-Canada trade war, Trump says they are \u2018the worst\u2019; Canada trade envoy says \u2018kiss my ass\u2019"},"content":{"rendered":"

\u27a1\ufe0f Did someone forward you this email? If you would like to receive this information directly, every morning before the markets open in New York, sign up here<\/a>.<\/p>\n

TARIFF WAR, EH?Trade negotiations devolve into personal insults from both sides<\/p>\n

The rhetoric in the U.S.-Canada trade war is extreme: \u201cThey are among the worst Nations in the World to deal with. They feel entitled, and yet, WE DON\u2019T NEED CANADA, THEY NEED US!\u201d, President Trump said yesterday on social media<\/a>. \u201cSomeone should get these clowns to ‘fall in line’ or, the consequences for Canada will be far WORSE!\u201d, he added later<\/a>.<\/p>\n

The language on the Canadian side has been pretty spicy too. \u201cHe has a lot of room to kiss my ass,\u201d Ontario Premier Doug Ford said on Monday, referring to Trump.<\/p>\n

Canadian Prime Minister Mark Carney, of course, has been feisty in defense of his nation\u2014more so than his European counterparts. His political popularity at home is partially driven by the fact that he has stood up to the White House\u2019s never-ending tariff demands. \u201cWe cannot accept what they have offered, and we will not give what they have asked,\u201d he said when trade negotiations collapsed.<\/p>\n

The New York Times has a must-read account<\/a> of how the talks foundered. Here\u2019s one detail that shows just how far apart the two sides are: Canada declined to end a ban on the sale of U.S. alcohol in Canada, and the U.S. in turn refused to lower tariffs on automobiles made in Canada to a level that would allow the Canadian auto business to remain sustainable.\u00a0<\/p>\n

Experts believe 90,000 jobs could be lost in Canada<\/a> if the two sides cannot reach an agreement by January 1, the deadline Trump has set for his new tariffs to kick in.<\/p>\n

ONE BIG THINGBessent didn\u2019t mention China or Russia in the launch of \u2018Operation Economic Outcast\u2019<\/p>\n

U.S. Treasury Secretary Scott Bessent announced<\/a> \u201cOperation Economic Outcast\u201d yesterday, which he described as an intense barrage of economic sanctions against Iran that would set the stage for \u201cregime collapse\u201d in Tehran.<\/p>\n

The sanctions will punish any country that does business with Iran, particularly in the areas of digital assets, technology, gold, aviation and shipping, per the WSJ<\/a>. The Treasury Department has \u201cmapped every node, every facilitator and every network that Iran has used to smuggle oil and evade sanctions,\u201d Bessent said.\u00a0<\/p>\n

But his speech pointedly did not contain two crucial words: \u201cChina\u201d and \u201cRussia.\u201d China is Iran\u2019s biggest trade partner<\/a> and buys 90% of Iran\u2019s oil. Russia is a more minor partner, but has provided military assistance to Iran during the conflict. Here are the countries that will be most affected:<\/p>\n

\"\"<\/p>\n

THE MARKETSStocks ignore political drama as traders wait for Nvidia earnings\u2014and Bitcoin soars<\/p>\n

Traders seem to be shrugging off the drama around Iran and Canada this morning. With Bessent giving few details on how his new sanctions against Iran will work\u2014beyond a new list of 60 Iran-linked entities or individuals\u2014and Trump\u2019s threatened tariffs against Canada not arriving until January, investors seem to be assuming that cooler heads will eventually prevail. The price of oil declined below $90 per barrel and stocks in Asia and Europe largely rose. U.S. futures were up before the bell in New York after the S&P 500 closed down yesterday.<\/p>\n

Bitcoin is the talk of the town this week: It\u2019s up 25% over the last month after Trump called for Congress to pass the Digital Asset Market Clarity Act.<\/p>\n

S&P 500 futures were up 0.37% this morning. The index fell 0.28% yesterday.\u00a0
\nIn Europe, the Stoxx 600 was up 0.34% in early trading and the U.K.\u2019s FTSE 100 was up 0.15% before lunch.
\nAsia: South Korea\u2019s KOSPI was up 0.68%. Japan\u2019s Nikkei 225 was up 0.5%. India\u2019s Nifty 50 was up 0.09%. China\u2019s CSI 300 was down 0.24%.\u00a0
\nBrent crude fell to $89 per barrel this morning.
\nBitcoin was at $79.8K this morning after rising 25% in the last month, and briefly exceeding $80,000 per coin.<\/p>\n

\"\"<\/p>\n

At Nvidia, no good deed goes unpunished<\/p>\n

\"\"<\/p>\n

Nvidia reports its Q2 FY2027 earnings tomorrow, an event that is likely to move the entire market\u2014just maybe not for Nvidia. Wedbush\u2019s Matt Bryson pointed out in a note this week that everyone is, again, expecting Nvidia to deliver stellar results by exceeding its prior guidance, as it did over the last three quarters. The company is constrained only by its ability to obtain enough components; demand far exceeds its capacity to supply. But as of today, the stock has been on a round trip: 10 months ago it traded at a peak of $207, right now it\u2019s at $208. \u201cNVDA has consistently exceeded consensus (and we believe delivered to buy side expectations), yet the stock is roughly unchanged from October of last year,\u201d Bryson said in an email.<\/p>\n

Yardeni: Stocks are cheaper now than they were in January<\/p>\n

The S&P 500 has risen 12% year-to-date but, somehow, that has made it cheaper than the numbers would suggest, according to Ed Yardeni and Toby Hearst of Yardeni Research. \u201cS&P 500 forward earnings has risen twice as fast as the S&P 500 stock price index so far this year. So the forward P\/E has declined as the index rose to record highs,\u201d they said in a recent email. \u201cInvestors are getting more earnings for their money than they were eight months ago.\u201d<\/p>\n

MORE FROM FORTUNE<\/p>\n

Harvard\u2019s $699 startup bootcamp has professors who never sleep\u2013but that\u2019s because they\u2019re AI clones<\/a> – Mia Osmonbekov<\/p>\n

Bosses are convinced Gen Z fakes Wi-Fi outages and sick days to sneak off in summer\u2014but 1 in 2 senior managers are guilty of the same thing<\/a> – Orianna Rosa Royle<\/p>\n

Four firms control more than half of the world\u2019s seed supply. Italian farmers are fighting back and returning to the bartering system<\/a> – Catherina Gioino<\/p>\n

Jamie Dimon and his wife, Judith, donate $12 million to 12 HBCUs\u2014betting they\u2019re the \u2018springboard to success\u2019 for the next generation<\/a> – Sydney Lake<\/p>\n

FTC moves to make retailers disclose use of \u2018personalized pricing\u2019 as technology now enables broad consumer surveillance<\/a> – Joshua Hong<\/p>\n

Asia\u2019s founders are going global faster, sometimes even before they\u2019re sure what their business is, says Stripe\u2019s SEA MD<\/a> – Angelica Ang<\/p>\n

CHART OF THE DAYThe increase in computational power used by AI is almost literally off the charts<\/p>\n

\"\"<\/p>\n

People underestimate just how fast computational power is being directed toward AI. The chart on the left is on a log scale, which makes the upward curve look flatter. But if the same chart used a linear scale, it would appear to be a vertical line soaring upward in the last couple of years, according to Deutsche Bank\u2019s Adrian Cox.<\/p>\n

NUMBER OF THE DAY: The scale of OnlyFans$30 billion<\/p>\n

The amount that OnlyFans has paid out to its creators since its founding in 2016. The company\u2019s accounts for its most recent financial year, as reported by the FT<\/a>, show it had revenue of $1.6 billion and profit of $715 million, with only 47 full-time employees. The number of creator accounts rose 9% to 5 million, and fan accounts rose 16% to 437 million. $6.2 billion was paid to creators last year after OnlyFans\u2019 20% cut. Also, $709 million in dividends was paid to late owner Leonid Radvinsky, who died from cancer earlier this year.<\/p>\n

THE FRONT PAGES TODAY<\/p>\n

US grain farmers face worst crisis in decades as Iran war sends costs spiralling<\/a> – FT<\/p>\n

Mark Carney’s defiance of Trump has Canada cheering<\/a> – Axios<\/p>\n

Oura and Dunkin\u2019 Get Ready to Join IPO Bonanza<\/a> – WSJ<\/p>\n

Burnham Plans US Trip Next Month to Lobby Trump on Ukraine Needs<\/a> – Bloomberg<\/p>\n

S.E.C. Investigating Near-Implosion of A.I. Hedge Fund<\/a> – NYT<\/p>\n

Whiskey-soaked \u2018Succession:\u2019 Jack Daniel\u2019s heirs in bitter family feud as $15B hostile bid looms<\/a> – NY Post<\/p>\n

ONE MORE THINGOne does not simply walk into the Indian Creek Country Club<\/p>\n

Jeff Bezos has spent $234 million buying property on Indian Creek Island, but they still won\u2019t let him be a member of the golf club at the heart of it.<\/p>\n

The initiation fee is close to $1 million, with annual dues of about $44,000, according to Fortune\u2019s Joshua Hong<\/a>.\u00a0<\/p>\n

But the club has a certain old-school vibe it wants to maintain so it doesn\u2019t let in any newcomers who might upset that.\u00a0<\/p>\n

The club\u2019s exclusivity has also put Bezos in company with several other extraordinarily wealthy people who have not managed to get through the gates. Meta CEO Mark Zuckerberg, Jared Kushner, and Ivanka Trump\u2014Bezos\u2019 fellow Indian Creek residents\u2014have not been admitted either.\u00a0<\/p>\n

Kushner and Ivanka Trump have likewise spent years cultivating relationships with the community. The couple bought land on Indian Creek and later expanded their holdings\u2014to no avail, as far as the golf club was concerned.<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"\u27a1\ufe0f Did someone forward you this email? If you would like to receive this information directly, every morning…\n","protected":false},"author":2,"featured_media":182086,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[17,6445,57547,200,386,116],"class_list":["post-182085","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-canada","tag-economics","tag-fortune-500-digest-weekday","tag-iran","tag-markets","tag-news"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/182085","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/comments?post=182085"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/posts\/182085\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media\/182086"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/media?parent=182085"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/categories?post=182085"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/canada\/wp-json\/wp\/v2\/tags?post=182085"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}