Business news from Ukraine

Business news from Ukraine

Trump calls Canadian leadership “clowns” and threatens harsher economic consequences

U.S. President Donald Trump has sharply stepped up pressure on Canada amid an escalating trade conflict between the two countries, calling Canadian leaders “clowns” and warning of significantly harsher economic consequences if Ottawa does not change its position.

Trump published the statement on Truth Social on August 24, 2026, following a new exchange of accusations with Canadian Prime Minister Mark Carney and Ontario Premier Doug Ford.

“America has carried Canada on its back for decades, but that will no longer happen,” the U.S. president wrote. At the end of his message, he called for the Canadian leadership to be made to “fall in line,” otherwise the consequences for the country would be “much worse.”

Trump spoke particularly harshly about Doug Ford, who had previously threatened to use electricity and critical mineral supplies to the United States as a retaliatory measure against U.S. tariffs.

The U.S. president also said that Canada was economically dependent on the United States and noted that a significant share of the electricity, oil and gas received by the country was transported through U.S. territory.

Official statistics, however, show a more complex picture. The two countries’ energy systems are indeed extremely closely interconnected, but Canada remains a major net exporter of energy resources to the United States.

According to the Canada Energy Regulator, in 2025 Canada exported CAD157.5 billion worth of oil, petroleum products, natural gas and gas condensate to the United States, while importing only CAD34.4 billion worth of similar products from the United States.

About 90.8% of Canadian hydrocarbon exports were sent specifically to the United States. In particular, Canada exported 4.3 million barrels of oil per day, of which about 3.9 million barrels went to the U.S. market.

In the opposite direction, Canada imported about 0.5 million barrels of oil per day, with approximately 76% of these supplies coming from the United States. Canada is also a major net exporter of natural gas: in 2025, it supplied about 8.6 billion cubic feet of gas per day, almost entirely to the United States, while simultaneously importing 2.5 billion cubic feet per day, predominantly from the United States.

The two countries’ electricity systems are also integrated. In 2025, Canada exported 32.7 TWh of electricity to the United States and imported 22.1 TWh. At the same time, all of Canada’s international electricity trade is conducted with the United States.

Thus, Trump’s statements have some basis in terms of the Canadian economy’s high dependence on U.S. transportation and energy infrastructure. At the same time, however, Canada is one of the most important suppliers of energy resources to the United States itself. In 2025, it accounted for 63.4% of U.S. crude oil imports, almost 100% of natural gas imports and 81.3% of electricity imported by the United States.

Trump’s statements followed the collapse of U.S.-Canadian trade negotiations.

The United States has already imposed 50% tariffs on approximately $20 billion worth of Canadian goods, while on August 24 Trump additionally threatened to raise tariffs on all cars, trucks and automotive components imported from Canada to 50% beginning January 1, 2027.

Washington had previously proposed reducing duties on Canadian passenger cars and light trucks from 25% to 15% and on steel and aluminum from 50% to 25% as part of an agreement. The negotiations collapsed, however, because of several disagreements.

Canada is preparing retaliatory measures. Ottawa announced that it would impose retaliatory tariffs on U.S. goods beginning September 8, while provincial authorities have not ruled out using energy and critical minerals as additional instruments of pressure.

Ontario Premier Doug Ford said that, in the event of further escalation, “everything is on the table,” including restrictions on supplies of electricity and strategic raw materials. According to him, electricity from Ontario supplies about 1.5 million homes and businesses in the United States.

Canadian Prime Minister Mark Carney, in turn, said that Ottawa was prepared to return to negotiations only if Canada was treated as a sovereign partner rather than as a territory dependent on the United States.

Trade relations between the two countries remain among the largest in the world. In 2025, trade in goods and services between the United States and Canada amounted to approximately $872.3 billion, with about three-quarters of Canadian merchandise exports going to the U.S. market.

Another claim made in Trump’s message is not supported by official statistics. The U.S. president said that unemployment in Canada had reached 10%, while the latest data from Statistics Canada showed that it stood at 6.4% in July 2026 — its lowest level in two years.

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Trump stated that agreement with Ukraine on mineral resources grants U.S. full access to Ukraine’s rare earth elements

U.S. President Donald Trump stated that the agreement on rare earth resources concluded with Ukraine provides the United States with access to Ukraine’s mineral resources and may prove more beneficial than the amount of U.S. aid provided.

“We’ve signed an agreement on rare earth elements… We have a signed contract. As for rare earth resources, we can go in there at any time. We can take practically whatever we want. It was a pretty good deal,” Trump said in an interview with Voice of Real America.

According to the U.S. president, Ukraine is “very rich” in rare earth resources, and the value of the agreement, in his view, could significantly exceed the amount of U.S. aid.

He suggested that the cost of access to these resources could exceed $300 billion, but the contract is still profitable and Washington will “get its money back.”

An analysis of rare earth elements is available on the YouTube channel of the Experts Club think tank – https://youtu.be/UHeBfpywpQc?si=CWejQ_1mj5Si5DwD

 

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Trump called EU fines against Apple, Google, and Amazon discriminatory and promised to take appropriate measures

In response to the recent fines imposed by the European Union on the American tech companies Apple, Google, and Amazon, U.S. President Donald Trump called the move “discrimination” and promised additional investigations and tariffs.

“The European Union is at it again and, as always, has targeted major American companies directly! After fining Apple $15 billion, Meta $3 billion, Amazon $2.5 billion, and many others for no reason at all, we have just been informed that Google—a truly cutting-edge and amazing company—has been fined another $1 billion without any explanation,” he wrote on the social media platform Truth Social.

Trump emphasized that the total amount of fines imposed on Google exceeded $18 billion.

“This illegal and highly discriminatory practice began at such high levels during the first year of Joe Biden’s administration, but it will not continue under a Trump administration,” he stressed.

Trump noted that the U.S. “will immediately launch a Section 301 investigation into the practice of ‘robbing’ American companies and, as a result, American taxpayers.”

The U.S. president promised a “very high price” for the European Union for “this illegal and highly unethical behavior.”

“The fines will be completely rescinded, and we expect a substantial tariff to be imposed on them as soon as possible,” Trump promised.

As reported, the European Commission (EC) announced on Thursday its decision to impose a fine of 890 million euros on Google for violating the Digital Markets Act (DMA).

Source: https://truthsocial.com/@realDonaldTrump/posts/116976043318889040

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Trump said U.S. will lift sanctions against Turkey

U.S. President Donald Trump said Washington will lift sanctions against Turkey that were imposed because Ankara purchased Russian S-400 air defense missile systems.

“We will lift the sanctions,” Trump told reporters on Tuesday in Ankara, responding to a question about the measures imposed against Turkey under the CAATSA law.

The statement came at the start of Trump’s meeting with Turkish President Recep Tayyip Erdogan on the sidelines of the NATO summit in Ankara.

The U.S. imposed sanctions on Turkey in 2020 after Ankara purchased Russian S-400 air defense systems. Washington also excluded Turkey from the F-35 fighter jet program, stating that the use of Russian systems poses risks to American aircraft.

Trump also said that the U.S. would make a decision regarding the possible sale of F-35s to Turkey. According to Reuters, the U.S. administration is ready to support such a deal, but legal and congressional obstacles have not yet been fully resolved.

For Turkey, the lifting of sanctions and a possible return to the F-35 issue would represent a significant breakthrough in relations with the U.S. This is also a sensitive issue for NATO, as Ankara remains one of the alliance’s key members, but its purchase of Russian S-400 systems in recent years has been one of the main sources of friction in its relations with Washington.

The NATO summit in Ankara is taking place against the backdrop of the alliance’s efforts to demonstrate increased defense spending and strengthened military-industrial cooperation. The meeting between Trump and Erdogan has become one of the summit’s central bilateral meetings, as it concerns not only sanctions but also future deliveries of U.S. weapons to Turkey.

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Trump Is Prepared to Impose 100% Tariffs on Any Country That Imposes Digital Services Tax

U.S. President Donald Trump said Friday that he is prepared to impose 100% tariffs on any country that imposes a digital services tax on American companies.

“Many European countries are discussing the immediate implementation of a digital services tax on American companies. Some of these countries are close to putting their words into action,” the U.S. leader wrote on the social media platform Truth Social.

“Please let this statement serve to make it clear that any country that imposes such a tax will immediately face 100% tariffs on any goods exported to the U.S.,” he emphasized.

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Trump Believes British Prime Minister Starmer May Resign

U.S. President Donald Trump has suggested that British Prime Minister Keir Starmer may resign as head of government following what he claims are failures on immigration policy and energy issues.

“Keir Starmer will resign as Prime Minister of the United Kingdom. He has suffered a major defeat on two very important issues—IMMIGRATION AND ENERGY (THE OPENING OF OIL FIELDS IN THE NORTH SEA!). I wish him all the best!” Trump said in a post published on the social media platform Truth Social.

As previously reported, Reuters noted that British Prime Minister Keir Starmer plans to announce his resignation on Monday and intends to present a clear timeline for his departure.

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