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The tariff hikes, expected for imports including cars, textiles and plastics, aim to shelter domestic manufacturers from Chinese competition, according to people briefed on the matter.

Q3 data from Statistics Canada’s Canadian Survey on Business Conditions said 42% of businesses didn’t pass along tariff-related cost increases to their customers in the past six months. 

If the EU proposes the legislation by the end of the month, then the 15% tariff rate on European cars will be back-dated to Aug. 1.

Trump has long been a critic of the project, which has been marred with cost overruns and constant delays, arguing that the effort has wasted taxpayers’ dollars.

Speaking in Mexico City, Bank of Canada's Tiff Macklem previewed some of the issues being considered in the coming review of the central bank’s monetary policy framework.  

A measure of Americans’ short-term expectations for income, business conditions and the job market fell 1.2 points to 74.8, remaining below 80, the marker that can signal a recession ahead.

Still, President Trump indicated that the agreement for a 15% tariff on South Korean imports would likely stick as is, despite Seoul’s efforts to secure better terms. 

Following Powell’s remarks investors boosted bets that the Federal Open Market Committee would cut rates at their Sept. 16-17 meeting.

Effective immediately, the Trump administration is blocking foreign drivers from obtaining visas to drive commercial trucks on U.S. roads.

The two leaders talked about “trade challenges, opportunities, and shared priorities in a new economic and security relationship between Canada and the U.S.,” according to a statement.