President Trump threatens a 35% tariff on some Canadian goods but markets seem unfazed.
Plus a probe into last month's Air India crash is focusing on the pilot.
Two fuel control switches which controls fuel to the engines were switched off at the time of the crash which is highly unusual.
And the rift between Unilever and Ben and Jerry's board ramps up.
It's Friday July 11th.
I'm Kate Bullivant for The Wall Street Journal filling in for Luke Vargas.
And here is the AM edition of What's News,
the top headlines and business stories moving your world today.
President Trump has threatened to slap 35% tariffs on imports from Canada starting August 1. A White House official said an exemption would apply to goods that comply with the USMCA trade deal,
but stressed that could change.
In a letter to Prime Minister Mark Carney,
Trump said the tariffs could climb higher if Ottawa retaliates,
but that they could lower if Canada stops fentanyl from crossing the border.
Canadian officials have repeatedly said very little fentanyl enters the US from Canada,
with the country previously announcing plans to boost border security spending by almost $1 billion to placate Trump.
The countries have been involved in talks to lower tariffs ahead of a self-imposed July 21 deadline,
which Carney said on X he remains committed to with the new August 1 timeline.
The Canadian dollar initially weakened sharply against the US dollar on the news,
before clawing back some of the losses last night.
It's just such a crazy difference from March and April when markets reacted to every utterance about tariff threats with like maximum volatility.