Canadian ministers set out a series of countermeasures after the Trump administration imposed new tariffs on Canadian goods, deepening the trade war between Canada and the United States.

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Canada announces tariffs of up to 50% on more than 700 US goods, with the highest import taxes targeting steel and aluminum.

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Prime Minister Mark Carney announced 50% tariffs on US furniture and steel, matching President Donald Trump’s new weekend duties dollar for dollar. He also backed support programs for Canadian businesses hurt by the escalating trade war.

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Canada is expected to announce retaliatory tariffs against the United States on Tuesday, after relations between U.S. President Donald Trump and Canadian Prime Minister Mark Carney deteriorated.

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The trade war between the United States and Canada is intensifying. The neighboring countries have been among the world’s closest allies and trading partners for decades, but using tariffs to settle disputes is putting even their strong economic relationship under serious strain.

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Bitwise has launched automated tokenized stock portfolios, initially targeting themes such as the Mag 7, artificial intelligence and robotics. The portfolios are powered by Coinbase and implemented through Glider.

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Bitcoin remained below $80,000 on Tuesday as interest rates moved lower. Spot bitcoin funds received $337.56 million on Aug. 24, extending an uninterrupted inflow streak and adding real money to a rally that began with a short squeeze.

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Bitcoin is staying above $80,000 as exchange-traded fund flows provide support. Analysts caution that persistent inflation and geopolitical uncertainty make it too soon to determine whether the move will become a bull market, though the outlook is described as early but optimistic.

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Traders are committing millions of dollars to bets on further Bitcoin gains after its striking rise to $80,000, while demand for protection against a decline remains strong, according to Laevitas.

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Bitcoin has gained more than 25% this week after an expansion of Treasury bond buybacks sparked a rally, pushing it above $80,000. Solana led major cryptocurrencies on Tuesday as validators voted on proposals to slow new SOL creation and increase daily burns, while the rally faced an overbought warning.

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Bitcoin has risen above US$80,000 for the first time in three months, reaching more than US$80,900 on Tuesday. The cryptocurrency gained about 25 per cent in a week amid a broader rally in alternative assets linked to Washington’s efforts to reduce US bond yields, though it remains nearly 36 per cent below its October record of US$126,000.

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Bitcoin has reached $80,000 for the first time since May as the cryptocurrency recovery gathers pace. Shifting US Treasury policy helped draw buyers back into crypto and revive ETF demand, while BTC has climbed 38% since its June plunge.

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HashKey said it has launched the Franklin OnChain US Government Liquidity Fund on its Earn channel, as part of a partnership with Franklin Templeton to offer the tokenized money market fund in Asia.

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US-Canada trade talks have collapsed. Bloomberg journalists answered live audience questions about what may happen next and how the breakdown could affect people’s money.

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Canadian stocks swung between gains and losses at Monday’s open after trade talks with the US collapsed, raising fears of a widening trade war. Prime Minister Mark Carney recalled his negotiators from Washington.

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Treasury Secretary Scott Bessent’s promised deficit-reduction plan, expected in the coming days, is set to confront a stark obstacle: there is no indication that the Republican-controlled Congress will deliver any net budget cuts this year.

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Canadian Prime Minister Mark Carney said his government is continuing to consider ways to retaliate against new tariffs imposed by US President Donald Trump on Canadian goods. He added that Canada remains willing to continue trade talks if the US takes the “right attitude.”

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Canada’s currency plunged against the US dollar and bonds rallied after trade talks between the two countries collapsed, as the widening rift threatened the outlook for economic growth.

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The US-Canada trade war shows no sign of easing. Canadian negotiators left talks in Washington after Prime Minister Mark Carney accused the Trump administration of making disproportionate last-minute demands. The US is imposing 50% tariffs on $20 billion of Canadian goods, while Canada’s retaliatory tariffs on US products are due to begin in early September, posing serious risks to both economies.

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U.S. President Donald Trump threatened additional tariffs on dozens of Canadian imports after Prime Minister Mark Carney pledged retaliation, as trade negotiations between Washington and Ottawa faltered.

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The United States and Canada are moving toward a deeper trade war after last-ditch efforts to reach a deal collapsed Friday. Americans could begin seeing higher prices for goods in three areas.

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Businesses on both sides of the border are bracing for losses after US-Canada trade talks collapsed and both governments pledged 50% tariffs on each other’s goods. Calgary jeweller Cindy Baldassi expects most of her US sales to disappear, while furniture, clothing and retail companies warn that higher costs could cancel orders and overwhelm small businesses.

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Iranian Economy Minister Ali Madani-Zadeh has answered the US announcement of a new economic pressure campaign against Iran. Washington says the campaign aims to “sever every economic lifeline,” while Madani-Zadeh declares: “You will fail this time, too.”

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US Treasury Secretary Scott Bessent said President Donald Trump is calling world leaders and asking them to halt all contacts with Iran. Bessent declined to identify the recipients, saying follow-up calls and visits from the State Department and Treasury would explain Washington’s expectations and deadlines, with consequences coming quickly if they fail to respond.

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US Treasury Secretary Scott Bessent said countries that do not comply with new US sanctions on Iran will effectively lose access to the dollar system. He did not say when the sectoral sanctions will take effect, but warned that secondary sanctions could be imposed quickly while Washington is prepared to wait for now.

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Scott Bessent is holding a live press conference focused on Iran.

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France and Saudi Arabia have agreed to build a €6 billion ($7 billion) manga-themed amusement park near Paris. The Elysee Palace announced the project on Monday during Saudi Crown Prince Mohammed bin Salman’s visit to the French capital.

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Iran’s currency has fallen to a record low against the dollar. The US is expected to disclose details of the administration’s sanctions plans later today, with developments being followed live.

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China has been Iran’s biggest oil buyer for several years, placing its purchases under scrutiny as the United States threatens Tehran with severe economic sanctions.

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US Treasury Secretary Scott Bessent warned that Washington would sever all economic ties with Iran and isolate countries that partner with it financially, calling the planned pressure the “single greatest financial offensive ever”. Iran dismissed the threat, saying it could halt regional oil exports if the war continues, and warned shipping not to cross the Strait of Hormuz without permission.

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US Treasury Secretary Scott Bessent said the administration expects to launch a “financial offensive” against Iran on Monday, declaring that the conflict is entering its “endgame.” President Donald Trump had earlier announced an unprecedented economic war and isolation campaign against Tehran, warning that entities supporting it would face serious US economic consequences.

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Shares in Russian online marketplace Ozon fell as much as 28.5% to 2,129 rubles after Ukrainian forces struck its warehouses in several Russian regions for a third straight day. The stock was down 12.7% at 2,600 rubles after the Moscow Exchange opened, while the benchmark index dropped 2%. Ozon is a blue-chip constituent of the benchmark. Ukraine had previously struck warehouses operated by Wildberries, which is not publicly traded.

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Russian officials say a Ukrainian overnight drone attack on Krasnodar sent debris into a private children’s facility and residential buildings, killing three children and injuring 12 people, including six children who were hospitalized. An Ozon warehouse was also hit, with no injuries reported there initially.

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Kremlin spokesman Dmitry Peskov said the Kyiv regime had opened Pandora’s box by attacking Russian civilian infrastructure and was facing retaliation every day, which would continue. He said drone strikes on Ozon warehouses had failed to affect frontline dynamics and instead highlighted the regime’s true nature.

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Russia’s Defense Ministry said air defenses intercepted and destroyed 351 Ukrainian fixed-wing drones overnight across Russian regions and nearby waters. Debris hit a children’s facility in Krasnodar, killing three children and injuring seven. Ozon logistics centers in Adygea and Dagestan caught fire, while some warehouses were evacuated or temporarily closed.

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Russian authorities said a Ukrainian drone attack on August 24 killed three children in Krasnodar. Officials said debris struck a private children’s center, injuring seven children and two adults and setting warehouses ablaze. Ozon facilities in Adygeysk, Makhachkala, and Nevinnomyssk were also hit; injuries were reported in Makhachkala.

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A massive Ukrainian drone attack is being repelled in the Krasnodar Region, Governor Veniamin Kondratyev said. Debris fell on a private children’s center in Krasnodar, killing two children and injuring seven others; two adults were hospitalized.

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Alibaba shares fell sharply in Hong Kong on Monday after the Chinese company launched a $10.2 billion share sale at a steep discount to fund its AI ambitions. Investors focused on dilution and execution risks.

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Alibaba shares dropped 8% in early Hong Kong trading on Monday after the technology company completed an HK$80 billion ($10.21 billion) share placement at HK$112.70 per share. The deal is intended to finance artificial intelligence-related development.

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Alibaba raised HK$80 billion ($10.2 billion) in Hong Kong’s largest secondary share sale, highlighting its readiness to accumulate and deploy huge sums in an effort to lead globally in artificial intelligence.

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