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- A powerful country on the other side of the world is quietly shaping Trump’...
President Donald Trump’s latest trade fight with Canada has a faraway force at its center: China.As Washington presses Ottawa to do more to prevent Chinese steel, aluminum and other goods from reaching the U.S. market through North American supply chains, Canada is pursuing renewed economic ties with Beijing, adding a fresh complication to already tense trade talks.At the heart of the fight is transshipment — routing goods through an intermediary country, sometimes after limited processing, before they reach their final market. U.S. officials fear steel and aluminum made in China or elsewhere could be processed in Canada or Mexico and then enter the United States as regional content.TRUMP JUST EXPANDED HIS TARIFF PLAYBOOK WITH A POWERFUL TRADE WEAPON NO PRESIDENT HAS EVER USEDThe U.S. and Canada addressed that risk in a 2019 joint statement resolving an earlier steel-and-aluminum tariff dispute. The countries agreed to prevent steel and aluminum made outside the U.S. or Canada from being transshipped into the other country, and said they could distinguish between steel melted and poured in North America and steel made elsewhere.U.S. trade hawks now argue Canada should accept tougher safeguards as Washington seeks to limit China’s role in critical manufacturing supply chains.Canada claims it is already taking steps to keep foreign steel from flooding its market. Ottawa limits some steel imports from countries without a free-trade agreement, including China, and imposes a 50% surcharge once those limits are exceeded.A POPULAR COCKTAIL HAS A TRUMP TRADE PROBLEM YOU PROBABLY DIDN’T KNOW ABOUTBut Canada has also moved to strengthen trade ties with Beijing.In March, China agreed to reopen its market to several Canadian farm and seafood exports, including canola, peas, lobster and crab. Canada, meanwhile, established a 49,000-vehicle annual quota for Chinese EVs at the 6.1% most-favored-nation tariff rate, removing its previous 100% surtax.Canada also extended tariff relief for some Chinese steel and aluminum products it says are in short supply. Officials say the arrangement is part of a broader effort to diversify Canada’s trade relationships. China is Canada’s second-largest merchandise trading partner.The arrangement has fueled criticism in Washington that Canada is moving in the opposite direction from the Trump administration’s effort to build a more China-resistant North American trading bloc.For Trump, the growing question is whether Canada is willing to embrace the same approach — or whether it's bid to expand trade with Beijing will become another fault line in an already tense relationship. [TheTopNews] Read More.4 hours ago - Universal’s New Coaster Is a Scream. That’s the Problem.
The Hollywood theme park built a “whisper quiet” ride to avoid angering nearby neighbors. They didn’t fully account for the enthusiasm of the riders. [TheTopNews] Read More.8 hours ago - Paramount, California AG to meet over possible settlement in $110B Warner Bros. ...Representatives for Paramount Skydance and California Attorney General Rob Bonta's office are expected to meet Monday to discuss a potential resolution to the lawsuit seeking to block Paramount's $110 billion acquisition of Warner Bros. Discovery, according to reports.The talks come as the transaction remains on hold under a court agreement and the companies face a March 2027 antitrust trial unless the dispute is resolved sooner.Variety first reported Friday that the two sides were expected to meet, citing sources familiar with the situation. The discussions are expected to focus on whether there is a path toward resolving the states' antitrust case.FOX Business has reached out to Paramount and Bonta's office for comment.Bonta led a coalition of 12 state attorneys general in filing the lawsuit in July, alleging the combination would reduce competition in theatrical film distribution and basic cable programming.MOVIE THEATER GROUP REVERSES COURSE, URGES CALIFORNIA AG TO SETTLE $110B PARAMOUNT-WARNER BROS LAWSUITThe states argue the merger would combine two of Hollywood's five major film distributors and give the combined company roughly 27% of the wide-release theatrical film market. They also allege it would control more than 30% of anticipated top-grossing theatrical films and about 27% of the market for licensing basic cable channels.Paramount and Warner Bros. Discovery have rejected the states' view of the transaction, arguing the combination would strengthen competition in a rapidly changing media industry.Bonta signaled openness to a possible resolution in a CNBC interview Thursday but said any settlement would require "robust structural remedies.""We do prefer to resolve cases in the boardroom instead of the courtroom," Bonta told CNBC, while saying the states remain focused on the markets outlined in their complaint.MARC STAD ASSUMES CONTROLLING STAKE IN TIMBERWOLVES, LYNX; ALEX RODRIGUEZ REMAINS WNBA FRANCHISE'S GOVERNORUnder a July 24 court stipulation, Paramount and Warner Bros. Discovery agreed not to close the deal or begin integrating their operations until five days after a ruling on the merits or June 1, 2027, whichever comes first.U.S. District Judge Araceli Martínez-Olguín has scheduled a 12-day trial beginning March 2, 2027. In an Aug. 4 scheduling order, the judge also encouraged the parties to identify potential magistrate judges to oversee a settlement conference.Paramount agreed in February to acquire Warner Bros. Discovery for $31 per share in cash, valuing the transaction at roughly $110 billion including debt. Under the merger agreement, Warner Bros. Discovery shareholders begin accruing additional consideration if the transaction remains unclosed… [TheTopNews] Read More.9 hours ago
- United’s next decision: What to do with all those Boeing 737 Max 10 seats ...
United Airlines wanted to put lie-flat premium seats on its Max 10 planes once they were certified, but that has been delayed by years. [TheTopNews] Read More.10 hours ago - Wells Fargo and Citigroup have room to buy a big bank. These 5 regionals fit the...Citigroup and Wells Fargo have room to buy a big regional bank as regulators have opened the door to megadeals. Five regional banks make sense as targets. [TheTopNews] Read More.10 hours ago
- After 10 years at United, CEO Scott Kirby is thinking big about the future of hi...United Airlines CEO Scott Kirby talked to CNBC in a wide-ranging interview about his proposed airline megadeals, AI and the future of the carrier. [TheTopNews] Read More.10 hours ago
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