Good morning from the Financial Times.
Today is Tuesday, August 18th, and this is your FT News Briefing.
Canada is trying to avoid new tariffs from the U.S., and airlines are in a standoff over reducing ticket prices.
Plus, there's one unlikely winner in the AI boom, Malaysia.
I'm Sonia Hudson, in for Mark Filipino, and here's the news you need to start your day.
Prime Minister Mark Carney is making a last ditch effort to stop fresh U.S.
Tariffs.
President Donald Trump has threatened 50% tariffs on about $20 billion worth of exports
that would go into effect on Wednesday.
Yesterday, Carney said he would speak with Trump and try to get him to stop or reduce those levies.
Canadian officials have been in intense trade talks in Washington for weeks.
The U.S. Wants Canadian provinces to get rid of bans on American alcohol
and for the country to dial back what it sees as protectionist
policies in the dairy industry and government procurement.
The Trump administration did not respond to a request for comment.
Airlines are in a standoff with each other over whether to cut ticket prices.
That's what one analyst told DFT.
Now, the cost of jet fuel is starting to come down after a big jump as a result of the U.S.-Iran war.
But it's been a bad year for carriers' bottom lines, so they want to maximize their profits.
Plus, airlines are worried that if one of them lowers prices, that will trigger a race to the bottom.