US Business

Trump orders tariffs on dozens of countries in push to reshape global trade

President Donald Trump ordered the reimposition of tariffs on dozens of trading partners Thursday — his cornerstone strategy for reshaping global trade to benefit the US economy.However, in a minor reprieve that opens the door to further negotiations, the White House said these measures will take effect in a week, not Friday as previously expected.The …

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Canada intends to recognize Palestinian state at UN General Assembly: Carney

Canada plans to recognize a Palestinian state at the UN General Assembly in September, Prime Minister Mark Carney said Wednesday, a major policy shift that drew an angry response from US President Donald Trump and was rejected by Israel.  Carney said the move was necessary to preserve hopes of a two-state solution to the Israeli-Palestinian …

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Fritz beats rain, Carballes Baena, to advance in Toronto

Second-seeded Taylor Fritz struggled with three rain delays and a stubborn Spanish opponent on Wednesday, pulling out a tight 7-5, 7-6 (7/1) win over Roberto Carballes Baena at the ATP Toronto Masters.The second-round match was halted repeatedly by light rain, with the final 18-minute pause coming just as the second-set tiebreaker was about to start.But Fritz, …

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Canada central bank holds rate steady citing US tariff ‘threats’

Canada’s central bank held its key lending rate at 2.75 percent on Wednesday, as the major US trading partner confronts economic uncertainty two days before President Donald Trump’s latest tariff deadline.Canada remains uniquely vulnerable to Trump’s trade war given the deep, broad ties between the neighboring economies. Trump’s threat to hike tariffs to 35 percent on …

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Canada project reclaims ‘foul’ industrial area to contain floods

The spur to build Toronto’s billion-dollar-plus flood prevention project dates back to a devastating hurricane in 1954, but planners say its urgency was reinforced by the recent tragic flooding in Texas.The Port Lands project has, in part, reversed a consequence of industrialization by reconnecting Lake Ontario with the Don River, more than a century after …

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IMF lifts 2025 growth forecast on ‘fragile’ easing in trade tensions

The IMF raised its global growth forecast Tuesday as efforts to circumvent Donald Trump’s sweeping tariffs sparked a bigger-than-expected surge in trade, while the US president stepped back from some of his harshest threats.The International Monetary Fund still sees growth slowing this year, however, even as it lifted its 2025 projection to 3.0 percent — …

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Aussie qualifier schools young gun Fonseca in Toronto

Australian qualifier Tristan Schoolkate dispatched rising Brazilian talent Joao Fonseca 7-6 (7/5), 6-4 on Monday in the ATP Toronto Masters, ensuring a breakthrough into the world ranking top 100.The 24-year-old from Perth moved to 98th in the ongoing live rankings as he claimed his biggest career victory by knocking out the ATP NextGen champion from …

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