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Recent Editions
Risk Channel
North America
Canada has announced C$27.6bn ($19.91bn) of counter-tariffs on U.S. imports in response to President Donald Trump’s latest trade measures, doubling existing duties on American steel and aluminum from 25% to 50% and introducing tariffs of between 15% and 50% on more than 700 other products, including fish, paper, cheese, furniture, clothing, appliances, and machinery. The measures, which take effect on 8 September, are intended to match the latest U.S. tariffs “dollar for dollar” and will cover goods representing around 7.3% of Canada’s total imports from the U.S. Ottawa has also unveiled C$7.5bn of additional support for workers and businesses affected by the escalating trade dispute, including C$1.5bn for small and medium-sized businesses, C$500m in loans, and a new C$2bn fund for companies developing “shovel-ready projects”, alongside C$3.5bn of expanded employment support. The retaliation follows the collapse of recent Canada-U.S. trade negotiations, while Mr Trump has threatened further tariffs on Canadian autos and steel from January.
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Risk Channel
UK/Europe
Norway will continue to develop its oil and gas resources in the Barents Sea, despite the European Union's support for a moratorium on Arctic drilling, Energy Minister Terje Aasland has said. "In today's geopolitical and security environment, and given the resource situation, I believe continued activity in the Barents Sea serves both Norwegian and European interests," Aasland told Reuters ahead of ONS, Norway's biannual energy conference, which began in Stavanger on Monday. The European Union currently supports a ban on new drilling in the Arctic on environmental grounds, but is weighing a revision of its policy amid concerns about energy security.
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