Donald Trump has said he is adding 10% to US tariffs on goods imported from Canada, after the province of Ontario aired an anti-tariff advertisement featuring Ronald Reagan, BBC.com reported. Calling the advert a "fraud", the US president lashed out at Canadian officials for not removing it ahead of the World Series baseball championship. Prime Minister Mark Carney said in response that Canada was ready "to continue to build on the progress we had been making" in trade talks, but added that it was developing trade relationships with other countries.

Mexican President Claudia Sheinbaum said on Monday she spoke with U.S. President Donald Trump on Saturday and that the two countries will extend a trade deadline for "a few more weeks" to discuss pending issues with Washington, Reuters reported. The U.S. agreed in July to pause for 90 days an increase in tariffs on some Mexican goods to 30% pause to continue talks over that period with the goal of signing a new trade deal.

Global public debt is rising faster than at any point in modern history, and this time, it is not just the historically large spenders driving it, EuroNews.com reported. The International Monetary Fund’s latest Fiscal Monitor warns that the public finances of major powers, led by the United States, have become a systemic global risk. "Although the number of countries with debt above 100% will be steadily declining in the next five years, their share in world GDP is projected to rise," the report stated.

President Donald Trump said he would immediately halt all trade negotiations with Canada, citing a Canadian advertisement against his signature tariffs plan featuring the voice of former President Ronald Reagan, Bloomberg News reported. “TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A.,” Trump wrote on his Truth Social platform.

Prime Minister Mark Carney said on Friday that Canada stands ready to resume trade talks with the United States that President Donald Trump halted over an anti-tariff advertisement issued by Ontario's provincial government, Reuters reported. Trump terminated the talks on Thursday over the video which used Republican icon, former President Ronald Reagan, saying tariffs cause trade wars and economic disaster. In a late-night social media post, Trump called the ad fraudulent.

Bermuda-based captive insurer Northeastern Insurance Co. Ltd. has filed for Chapter 15 bankruptcy protection in the US District Court for the Southern District of New York, citing financial strain caused by the state's extension of the statute of limitations on sex abuse cases, InsuranceBusinessMag.com reported. According to court filings, Northeastern decided, in 2017, to stop underwriting new business and enter a runoff process. At the time, the company said it maintained adequate reserves.

China's Communist Party elite vowed on Thursday to build a modern industrial system and make more efforts to achieve technological self-reliance, moves it sees as key to bolstering its position in its intensifying rivalry with the United States, Reuters reported. As expected, the Party's Central Committee also promised more efforts to expand domestic demand and improve people's livelihoods - long-standing goals that in recent years have been little more than an afterthought as China prioritised manufacturing and investment - without giving many details.

The U.S.’s new sanctions hit at the core of Russia’s faltering war economy, bringing Washington and Europe into alignment in their pressure on Moscow for the first time since the start of the Trump administration, the Wall Street Journal reported. Analysts say the impact of blacklisting Rosneft and Lukoil—Russia’s biggest oil producers—will hinge on three things: how well they are enforced, the reaction of major markets in India and China, and whether Moscow can circumvent the measures. The new U.S. sanctions “mark the most material move to date by the U.S.

Canada offered tariff relief on some steel and aluminum products imported from the U.S. and China, a government document showed, in efforts to help domestic businesses battered by a trade war on two fronts, Reuters reported. Prime Minister Mark Carney is negotiating with U.S. President Donald Trump, who imposed tariffs on Canadian steel and aluminum. His team also met with Chinese counterparts last week in an effort to secure relief on Chinese tariffs on Canadian agricultural goods. Canada's economy has come under strain as the impact of tariffs on Canadian exports to the U.S.

A group of banks including JPMorgan Chase, Bank of America and Goldman Sachs is struggling to put together a $20 billion loan to Argentina without leaving themselves too exposed to the financially distressed South American country, the Wall Street Journal reported. The bank loans would be part of the Trump administration’s plan to backstop the finances of libertarian President Javier Milei’s government with a $40 billion package, including a $20 billion currency swap with the U.S. Treasury Department and the separate $20 billion bank-led debt facility.