A weathered border checkpoint sign reading fifty percent duty above stacked wooden crates marked for export, close-up shot from a low angle, cold overcast daylight with a faint amber glow from the right, deep shadows between the crates, shallow depth of field.

Trump Slaps 50% Tariff on Canada, Reviving 1930s Trade Law

By Oliver BennsJuly 22, 2026

The US will impose 50% tariffs on most Canadian goods next month, invoking Section 338 of the 1930 Smoot-Hawley Tariff Act - a provision that has never been used to levy duties in its 95-year history. The move revives trade chaos after months of relative calm, and comes as a separate 10% baseline tariff regime expires Friday with no finalised replacement in place. Independent estimates suggest 85-95% of tariff costs are being absorbed by US importers and consumers, with headline inflation now running near 4%, double the Federal Reserve's target.

Judge Freezes Paramount's $110bn Warner Bros Takeover

A judge issued a 14-day temporary restraining order halting Paramount's $110bn acquisition of Warner Bros Discovery, after 12 Democratic state attorneys general sued on antitrust grounds. A longer freeze will be argued on August 3rd, and if the deal fails to close by September 30th, Paramount owes WBD a ticking fee of over $600m per quarter. Paramount and WBD shares both fell 3% on the news.

Oracle's Debt Binge Triggers $7bn Collateral Demand

Wisconsin authorities have demanded Oracle post $7bn in collateral for a planned 1-gigawatt data centre, citing the company's BBB- credit rating - one notch above junk. Oracle has borrowed $43bn to build data centres over the past year against $67bn in revenue, while burning roughly $24bn in free cash flow. The stock is down 35% year-to-date, with an estimated $489bn of AI-related debt issued across the sector this year.