President Donald Trump announces new tariffs on Canada using a rarely invoked U.S. trade statute, immediately raising legal questions about whether the administration has clear authority to act. The move adds uncertainty to North American trade ties as businesses and lawyers weigh whether the measure can withstand an expected court challenge.

Iran’s leadership publicly acknowledges worsening economic strain as U.S. sanctions intensify during the conflict. The supreme leader calls on the government to respond to the hardship, while the president says foreign trade has fallen sharply, underscoring how external pressure is feeding directly into the country’s commercial and financial stress.

Glencore sets aside about $480 million tied to its exposure to Radiant World, an iron ore trader under heightened scrutiny. The provision points to the financial risks large commodity groups can face through trading relationships and signals that Glencore is preparing for potential losses linked to that counterparty.

Ontario Premier Doug Ford unveils a large shoreline sign reading “Lake Ontario. Now and Always” after a U.S. executive order renames the lake “Lake America.” The move turns a symbolic dispute into a public message, highlighting how political tensions with Washington are spilling into branding, identity and the broader Canada-U.S. relationship.