Main Street Independent

TAG  ·  Economy

economy, business and finance

Carney says any US trade pact must include tariff-level assurances

Illustration accompanying article: Carney says any US trade pact must include tariff-level assurances
  • Canadian Prime Minister Mark Carney said any future Canada-US trade pact must include tariff-level assurances that would not be subject to unilateral change.
  • Carney said the absence of those assurances triggered the collapse of negotiations last month and the imposition of new U.S. tariffs on Canadian goods.
  • The White House said Canada rejected the most generous trade deal offered to any U.S. trading partner and made further demands without offering concessions in return.
  • Carney's remarks offered further elaboration of why negotiations collapsed after officials had expressed optimism a deal was imminent.
  • Canada has scheduled retaliatory tariffs to take effect Tuesday, and President Trump has threatened a 50% tariff on Canadian-made vehicles and auto parts starting Jan. 1.
 2026-09-03 · 4 MIN READ

BOE's Pill argues war uncertainty supports rate hike

Illustration accompanying article: BOE's Pill argues war uncertainty supports rate hike
  • Bank of England Chief Economist Huw Pill told an Edinburgh audience Thursday that the central bank should raise its key interest rate to limit the risk of prolonged above-target inflation.
  • Pill argued that uncertainty about the course of the U.S.–Iran war and the resulting energy-price path makes waiting for clarity harder to justify.
  • At the July meeting, Pill and two other Monetary Policy Committee members voted for a rate rise; six members voted to hold.
  • Pill said even a new ceasefire announcement would leave the conflict's effectiveness and energy-price effects difficult to assess.
 2026-09-03 · 3 MIN READ
Illustration accompanying article: Fed's Waller ties rate-hike support to next week's inflation report