Canada Retaliatory Tariffs on U.S. Goods Take Effect 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Gold Prices Rise as Yen Rally Weakens Dollar 
China to Inject $45 Billion Into State Financial Institutions 
China Inflation Accelerates in August as CPI, PPI Rise 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
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Tariff Suspension and Trade Agreements
President Donald Trump announced a 30-day tariff halt on imports from Mexico and Canada after successful negotiations. The Mexican president, Claudia Sheinbaum, agreed to deploy 10,000 National Guard troops to the U.S.-Mexico border to curb drug trafficking and unauthorized migration in exchange for a suspension of a planned 25% tariff. Similarly, when Canadian Prime Minister Justin Trudeau promised his counterpart to augment the border security measures, accordingly, there also existed a freezing on tariffs, at least regarding Canada.
Market Reactions and Continued Trade Debates
This triggered good reactions in markets around the globe. US equities futures were trading higher, with an increase in S&P 500 by 0.4%. That notwithstanding, Trump declared that the scheduled 10 percent tariff on imports from China would be enforced. Trump called it the "opening salvo" into what could continue to escalate if the negotiations were not moving in the right direction. This situation mirrors the continued complexity of U.S. trade policy as Trump negotiates diplomatic relationships while dealing with critical issues such as immigration and drug trafficking.p'
