China submitted a revised request for dispute settlement consultations with the United States to address new U.S. tariffs applied on goods originating in China, the World Trade Organization said on Wednesday, Reuters reported. The Trump administration's latest tariff hike on Chinese imports has heightened fears of a renewed trade war between the U.S. and China, the world's two largest economies. China's revised request comes after an extra 10% duty on Chinese goods took effect Tuesday, adding to the 10% tariff imposed by U.S. President Donald Trump on February 4.

Canada's trade surplus in January exceeded expectations by a wide margin to post a 32-month record as fears of tariffs from the U.S. pushed exports of cars and energy products, especially south of its border, data showed on Thursday, Reuters reported. Canada posted a trade surplus of C$3.97 billion ($2.76 billion), more than double the upwardly revised C$1.69 billion seen in December, Statistics Canada said. This was a second consecutive month when exports far exceeded imports although both grew by a healthy margin. U.S.

Telecommunications company Mitel Networks is poised to file for chapter 11 bankruptcy protection imminently, Bloomberg News reported. The privately held Canadian company is currently engaged in intricate debt restructuring negotiations with its creditors, driven by persistent revenue declines and impending debt maturation. These details were disclosed by sources who requested anonymity due to the sensitive nature of the information. Mitel’s debt instruments are experiencing unprecedented depreciation, with financial intermediaries effectively valuing the loans as negligible.

U.S. tariffs that took effect on Tuesday are threatening to derail Canada's fledgling economic recovery and will fuel a rise in consumer prices and unemployment, potentially triggering a recession, Reuters reported. Canada relies on the United States for 75% of its exports and a third of all imports. Its dependency on trade for economic growth leaves Canada vulnerable to a protracted trade war. The Canadian economy had started showing signs of improvement after several anemic quarters thanks to six consecutive interest rate cuts from the Bank of Canada.

Panama’s president accused Donald Trump of lying to congress after the US leader reiterated his intention to take over the Panama canal, Bloomberg News reported. Trump told lawmakers in Washington on Tuesday that Panama had broken the agreements it made when it took over the waterway a quarter century ago. “Once again, President Trump lies,” President Jose Raul Mulino said in a post on X.

U.S. President Donald Trump's new 25% tariffs on imports from Mexico and Canada took effect on Tuesday, along with a doubling of duties on Chinese goods to 20%, sparking trade wars that could slam economic growth and lift prices for Americans still smarting from years of high inflation, Reuters reported. The tariff actions, which look set to upend nearly $2.2 trillion in annual U.S. trade with its top three trading partners, went live at 12:01 a.m. (0501 GMT).

Prime Minister Justin Trudeau told U.S. President Donald Trump on Tuesday that his tariffs on Canadian imports were "a very dumb thing to do" and said Ottawa was striking back immediately at its closest ally, Reuters reported. Trudeau, who is stepping down at the end of the week, also accused Trump of wanting to ruin the Canadian economy. Trudeau, speaking hours after Trump launched a trade war against Mexico and Canada, announced immediate 25% tariffs on C$30 billion worth of U.S. imports. If need be, Canada will target another C$125 billion worth in 21 days' time, he said.

An investment group led by BlackRock, a giant American asset manager, has agreed to buy two ports in Panama that are owned by a Hong Kong company and that have become the subject of tensions between Panama and the Trump administration, the New York Times reported.

A top official of Indian tech firm Byju’s violated his fiduciary duty to lenders by wrongly hiding $533 million from them, according to a US court ruling on Friday, a win for creditors vying to collect on a defaulted $1.2 billion loan, Bloomberg News reported. Byju’s fraudulently transferred at least part of the money to a small hedge fund based in Miami to keep it out of lenders’ hands, U.S. Bankruptcy Judge John Dorsey also ruled.