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Donald Trump has threatened to increase tariffs on Canadian cars, trucks, auto parts and steel to 50% today, after trade negotiations between Washington and Ottowa broke down last week.

On Truth Social, the president blasted Canada, and said the new duties will go into effect on 1 January 2027.

Investors will hope Kevin Warsh offers ‘comfort blanket’ at annual meeting of central banks amid bond market anxiety

The new US Federal Reserve chair, Kevin Warsh, faces a critical test this week amid anxiety in government bond markets over inflation and Donald Trump’s tax and spending plans.

As the world’s most powerful central bank prepares for its annual Jackson Hole conference, analysts said bond traders would be looking for signals from Warsh over its commitment to fighting inflation.