Sponsored by Power Nickel

Trump Warns Russia: 50 Days or Tariffs

President Donald Trump announced Monday he will provide Ukraine with advanced US weapons and threatened to impose 100% tariffs on Russia and its trading partners if a peace deal is not reached within 50 days.

Speaking during an Oval Office meeting with NATO Secretary-General Mark Rutte, Trump said European countries would purchase US-made weapons, including Patriot air defense systems, to send to Ukraine. Trump said Tuesday the Patriot missiles are “already being shipped.” The announcement marks a significant shift from Trump’s earlier campaign promises to quickly end the war.

“We’re going to be doing very severe tariffs if we don’t have a deal in 50 days,” Trump said. “Tariffs at about 100%, you’d call them secondary tariffs.”

You can read more on the matter here.

What’s going on?

• Trump Order Opens 401k Door to Private Equity (theDeepDive)

• Thousands of Canadians to start receiving invitations to apply to sponsor parents and grandparents (CTV)

• Nova Scotia Restarts Offshore Gas Bids After 2023 Veto (theDeepDive)

• Carney says projects built under Bill C-5 will place Indigenous economic growth at centre (Globe)

• Carney’s Spending Review Order Makes CBC Brace For 15% Budget Cut (theDeepDive)

• Donald Trump says Coca-Cola will use cane sugar in US production of Coke (FT)

• Alimentation Couche-Tard Withdraws Bid For 7-Eleven Parent: “No Sincere Engagement” (theDeepDive)

• ChatGPT Will Soon Shop Online, Make PowerPoints on Your Behalf (Bloomberg)

• Billionaires Leave UK as Government Ends Tax Breaks for Wealthy Foreign Residents (theDeepDive)

• Crypto theft is booming as criminals increasingly turn to physical attacks (CNBC)

• Trump Unveils Major AI Investment Initiative During Pennsylvania Summit (theDeepDive)

What’s the latest?

• Real Estate: Around 60% of Canadian mortgage holders will see higher payments when renewing in 2025–2026, with average monthly costs rising 10% in 2025 and 6% in 2026. Fixed-rate mortgage holders, especially five-year terms, may face 15–20% jumps, while some variable-rate borrowers could see payment decreases. The median mortgage debt service ratio for those with rising payments is projected to grow from 15.3% to 18% by 2026. Additionally, 70% of recent buyers required financial help to purchase homes, and 74% of mortgage holders will renew within three years.

• Uber: Uber will invest $300 million in Lucid as part of a new robotaxi deal that includes deploying over 20,000 Lucid Gravity SUVs equipped with Nuro’s autonomous tech starting in 2026. The robotaxis will launch in one major U.S. city by late next year. This marks Uber’s return to AVs after exiting the space in 2020, now relying on partnerships with companies like Lucid, Nuro, and Volkswagen. Lucid shares surged 26% after the announcement, and the company also proposed a 1-for-10 reverse stock split.

• TSX: Canada’s TSX index rose 109 points to 27,262.45 in late-morning trading, driven by gains in the tech sector. U.S. markets also climbed, with the Nasdaq up 138 points, the S&P 500 up 20 points, and the Dow up 95 points. Oil rose to $65.76 per barrel, while gold fell $21.10 to $3,338 an ounce. The Canadian dollar dipped slightly to 72.73 US cents.

• Couche-Tard: Alimentation Couche-Tard shares rose 8% to $73.67 after it withdrew its bid to acquire 7-Eleven’s parent company, citing a lack of constructive engagement. The year-long effort faced early skepticism from investors after the offer leaked without strategic details. Stifel’s Martin Landry noted that doubts around synergies and antitrust hurdles made the deal unlikely. Seven & i Holdings acknowledged the talks but emphasized the major regulatory barriers.

• Retail Sales: Consumer spending rebounded in June, with retail sales rising 0.6%—the strongest gain in three months—after back-to-back declines in April and May. The growth was driven by strong auto sales and modest increases across most categories, despite ongoing tariff concerns. Essentials like clothing (+0.9%) and personal care (+0.5%) saw gains, while spending on imported goods like electronics and furniture declined. Inflation rose to 2.7% annually in June, the highest since February, complicating the Fed’s interest rate outlook. Back-to-school spending is expected to hit $33.3 billion, with consumers shopping early to avoid potential price hikes.

Why Gold’s Bull Run May Just Be Getting Started

The stock market and stuff

• Eldorado To Increase Amex Exploration Interest To 17% With $17.6 Million Investment (theDeepDive)

• Uber agrees multibillion-dollar deal with Lucid for electric robotaxi fleet (FT)

• Canada Reclaims Mine Finance Crown On $7.7B Gold-Powered Surge (theDeepDive)

In the juniors

• Sitka Gold Drills 2.09 g/t Gold Over 47.6 Metres At Saddle Zone (theDeepDive)

• Emerita Reports Aznalcollar Public Tender Trial Hearings Have Concluded, Verdict Expected This Fall (theDeepDive)

• Denison Sees Mining Resume At McClean Lake Joint Venture (theDeepDive)

FULL DISCLOSURE: Power Nickel is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Power Nickel. The author has been compensated to cover Power Nickel on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.