President Donald Trump on Saturday vowed to implement a wave of increasing tariffs on European allies until the United States is allowed to buy Greenland, escalating a row over the future of Denmark's vast Arctic island, Reuters reported. In a post on Truth Social, Trump said additional 10% import tariffs would take effect on February 1 on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland and Great Britain — all already subject to tariffs imposed by Trump. Those tariffs would increase to 25% on June 1 and would continue until a deal was reached for the U.S.

Prime Minister Mark Carney's new approach to Canada's foreign policy can perhaps be distilled in one line: "We take the world as it is, not as we wish it to be," BBC.com reported. That was his response when asked about the deal struck with China on Friday, despite concerns over its human rights record and nearly a year after he called China "the biggest security threat" facing Canada. The deal will see Canada ease tariffs on Chinese electric vehicles that it imposed in tandem with the US in 2024. In exchange, China will lower retaliatory tariffs on key Canadian agricultural products.

A slump by Canada’s auto industry in November as a semiconductor shortage weighed on activity hit sales by factories and wholesalers and threatens to hold back economic growth in the final quarter of last year, the Wall Street Journal reported. Manufacturing shipments declined 1.2% from the month before to a seasonally adjusted 70.77 billion Canadian dollars, the equivalent of about US$50.97 billion, Statistics Canada said Thursday.

Canadian home sales posted an annual decline last year as sales and prices fell in December, data from the Canadian Real Estate Association showed on Thursday, Reuters reported. Home sales fell 2.7% in December from November, while they were down 4.5% year-over-year without seasonal adjustment. For 2025, sales decreased 1.9% from the previous year to 470,314 units. The economic shock of U.S. tariffs pushed buyers to the sidelines in the first quarter, CREA said.

The European Parliament is considering putting on hold the European Union's implementation of the trade deal struck with the United States in protest over threats by U.S. President Donald Trump to seize Greenland, Reuters reported. The European Parliament has been debating legislative proposals to remove many of the EU's import duties on U.S. goods - the bulk of the trade deal with the U.S. - and to continue zero duties for U.S. lobsters, initially agreed with Trump in 2020. It was due to set its position in votes on January 26-27, which the MEPs said should now be postponed.

The U.S. Supreme Court declined on Monday to hear Citigroup's bid to avoid a lawsuit accusing the bank of causing ​more than $1 billion of losses by orchestrating a vast fraud at the bankrupt ‌Mexican oil and gas services company Oceanografia, Reuters reported. The justices turned away Citigroup's appeal of a lower court's May 2025 decision ‌to revive the decade-old lawsuit by more than 30 plaintiffs including Oceanografia bondholders, shipping companies and Netherlands-based Rabobank. By doing so, the Supreme Court let the lower court's decision stand.

The Supreme Court of Panama is winding up deliberations that will decide whether a Hong Kong company can run two ports at either end of the Panama Canal, a decision closely watched in Washington and Beijing, the Wall Street Journal reported. The case carries the weight of geopolitical competition between the U.S. and China. President Trump has said he wanted to take back control of the canal, which the U.S. built in the early 20th century and handed over to Panama in late 1999.

The U.S. will put a 25% tariff on any country that does business with Iran, President Trump said on Monday, raising pressure on the Middle Eastern nation after days of protests against the government, the Wall Street Journal reported. “Effective immediately, any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America,” Trump posted on Truth Social.

As U.S. President Donald Trump moves quickly to put together a $100 billion effort to revive Venezuela's oil industry, the administration has yet to finalize the fate of the crown jewel of the country's foreign assets, U.S. refining company Citgo Petroleum, Reuters reported. Houston-based ​Citgo has been tied up in the lengthy auction of its parent, PDV Holding, organized by a Delaware court to pay billions of dollars to creditors for ‌debt defaults and expropriations in Venezuela.