Canadian Prime Minister Mark Carney's visit to Brussels was marked by a standing ovation from European Parliament members as the EU proposed an 'Alliance for the Future,' positioning Canada as the first associate member.
This move was met with skepticism from President Trump, who criticized Canada as a poor trade partner and threatened heavy tariffs on Europe if the alliance was perceived as insincere. Meanwhile, the U.S. House passed a sanctions bill that grants Trump the authority to impose tariffs of up to 100% on countries purchasing Russian oil, directly targeting major buyers like China and India.
Trade policy expert Deborah Elms noted that this legislation provides Trump with significant leverage in negotiations with these countries. In the context of the ongoing conflict in Iran, Trump expressed optimism about nearing an end to the war, despite escalating tensions in Yemen.
U.S. stock futures remained stable following a recent Federal Reserve rate hike, while Asian markets opened higher amid declining oil prices. Additionally, Nvidia's CEO projected a significant increase in chip sales by 2027, while Palantir's CEO called for reasonable AI regulations, suggesting that nationalization may be necessary due to the technology's risks.
Lastly, Japanese corporate leaders, including Kawasaki Heavy Industries' chairman, voiced concerns over the weak yen, indicating that a stronger currency could lead to a shift in manufacturing strategies back to Japan