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The U.S.-Canada trade relationship hit a new breaking point this weekend, with Washington imposing fifty percent tariffs on twenty billion dollars worth of Canadian goods after Friday's negotiations collapsed. Prime Minister Carney framed it bluntly, saying you're at war when you get attacked, accusing the U.S. of weaponizing decades of economic integration against a historic ally.
The breakdown traces directly to a last-minute standoff over trucks. Both sides had the outline of a framework deal covering autos, steel, aluminum, and lumber, but talks fell apart when Canada pushed hard for relief on medium and heavy-duty vehicle tariffs and the U.S. wouldn't move. That single sticking point unraveled what had been a near-agreement, leaving both economies bracing for higher consumer prices.
Shifting to fund flows, active ETFs are cementing a remarkable grip on investor capital, now capturing forty-two cents of every dollar flowing into the ETF space, up sharply from twenty-six percent in two thousand twenty four. The trend signals that investors are increasingly willing to pay for active management within the ETF wrapper, a structural shift that is reshaping how asset managers compete for assets.
That's the tape. Markets Desk, signing off the floor.
