It’s time for the week’s round-up. Here are the top stories that made headlines over the week.
President Donald Trump‘s trade war with Canada, the potential record-high gas prices and Japan’s debt crisis were some of the significant events that unfolded over the week.
Trump’s decision to impose 50% tariffs on $20 billion worth of Canadian goods, including hockey sticks, could further escalate the trade conflict. This move, which is seen as a breach of the CUSMA trade agreement, could have a significant impact on U.S. energy security.
Analyst Patrick De Haan predicts that U.S. gasoline prices could remain above $4 per gallon, setting a new record for the highest average price ever recorded. The national average is currently at $4.08 per gallon and is expected to surpass even 2022 levels within about a week.
Economist Peter Schiff warns that Japan’s mounting debt and bond market pressures could trigger the next global financial crisis. The country’s financial system could unravel before the U.S., potentially sparking a broader global financial crisis.
A photograph taken during President Donald Trump’s Friday cabinet meeting at Camp David showed Treasury Secretary Scott Bessent‘s notepad with “Buy Japanese Yen (JPY) $5-10 bil” listed as a “To Do” item.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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