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Trump, Japan Strike 15% Tariff Deal

Japan has a trade deal with US, at least according to President Donald Trump after he declared a “massive” agreement under which Tokyo will pay a 15% tariff on its exports to the US, open its market to American cars, trucks, rice, and other farm goods, and invest $550 billion in the US, with Washington “receiv[ing] 90% of the Profits.”

“There has never been anything like it,” he wrote on Truth Social.

Trump said the 15% levy replaces the 25% duty he had threatened if Tokyo balked. Japanese autos—already hit with a separate 25% tariff since April—would drop to 15%, including the standing 2.5% rate, affecting key carmakers like Toyota, Honda, and Nissan.

You can read more on the matter here.

What’s going on?

• Howard Lutnick’s Sons Running His Old Firm Are Betting Against Trump Tariffs (theDeepDive)

• 3 miners trapped in northern B.C. mine, premier says (CBC)

• CleanBC Is About To Lose $109.7B In Economic Activity By 2029—ICBA (theDeepDive)

• Zelensky faces first wartime protests over law weakening anti-corruption agencies (Globe)

• EU Threatens 30% Tariff If No Deal Is Reached By August 1 (theDeepDive)

• US home sales lower than expected but prices remain high (FT)

• Did Klaus Schwab Rig WEF Data? (theDeepDive)

• EU Seeks 15% Baseline Tariffs In U.S. Trade Deal (WSJ)

• EPA Eliminates Scientific Research Arm in Major Agency Restructuring (theDeepDive)

• Trump administration ramps up its campaign against colleges (CNBC)

• Poilievre Faces Record-Breaking Ballot, Local Opposition in Alberta Byelection (theDeepDive)

What’s the latest?

• Trade War: The U.S. is turning to trade talks with the EU after securing a deal with Japan. President Trump said EU officials will meet with U.S. counterparts this week, as pressure mounts to strike a deal before August 1 to avoid looming 30% tariffs. The Japan agreement, which cut auto tariffs to 15% without export caps, raised hopes for a similar outcome with the EU. Meanwhile, EU leaders are also engaging with Japan and China, aiming to balance growing U.S. trade pressure.

• Politics: Canadian premiers are urging the federal government to strengthen ties with China amid a trade war with the U.S. Ontario imports $40B from China but exports only $3B, and both Ontario and Saskatchewan steel sectors are hit hard by U.S. tariffs. China has retaliated with 100% tariffs on Canadian canola and 25% on some pork and seafood. Canada plans to raise tariffs on Chinese steel and aluminum to 50% and wants China to lift restrictions on key Canadian exports.

• AI: Hamilton-based CATTLEytics is using AI to help dairy and livestock farmers make smarter decisions across their operations. Its software simulates digital twins of farms, aiding in tasks like breeding, treatment planning, and staff scheduling. CEO Shari van de Pol, a former vet and data engineer, says their tools save farmers 1–2 hours daily and improve sustainability without needing more resources. She aims to build on Canada's strong precision agriculture legacy by pushing farms further into the AI age.

• Microsoft: A cyber-espionage campaign exploiting unpatched Microsoft SharePoint servers has hit around 400 organizations, according to Netherlands-based Eye Security. That’s up from 100 over the weekend, though researchers say the real number is likely higher. The breach stems from Microsoft’s incomplete fix of a known vulnerability, which Chinese hackers are reportedly exploiting—claims Beijing denies. Most affected organizations remain unidentified.

• Rogers: Rogers Communications' Q2 profit dropped to $148 million from $394 million a year ago due to higher restructuring and acquisition costs. Revenue rose slightly to $5.22 billion, with growth in wireless equipment, media, and cable. The company closed its $4.7B deal for MLSE and raised its 2025 service revenue forecast to 3–5%. Postpaid subscriber growth slowed, and average monthly mobile revenue per user declined to $55.45.

STLLR Gold PEA

The stock market and stuff

• Delta’s New AI Seems To Target The Wallet, Not The Market(theDeepDive)

• Meme stock mania returns as Krispy Kreme and GoPro shares soar (FT)

• Chevron Completes $53B Hess Acquisition After Defeating Exxon in Legal Battle (theDeepDive)

In the juniors

• Westgold Reports Fiscal Q4 Production Of 88,022 Ounces (theDeepDive)

• IsoEnergy and Purepoint Extend High-Grade Mineralization at the Dorado JV with a 70 Metre Step-Out Peaking at 110,800 CPS (JMN)

• MAG Silver Reports Q2 Production Of 4.35M Ounces Of Silver, 10,465 Ounces Of Gold (theDeepDive)

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