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Trump Urges NATO to Cut Russian Oil Imports, Pushes for Tariffs on China to End Ukraine War

President Donald Trump has called on NATO allies to immediately stop purchasing Russian oil, warning that continued imports undermine the alliance’s leverage over Moscow. In a post on his social media platform, Trump described the practice as “shocking” and claimed it weakens NATO’s bargaining power in efforts to end the war in Ukraine. Trump proposed that all NATO members not only ban Russian oil but also impose tariffs of 50% to 100% on Chinese goods, arguing that Beijing’s economic ties with Moscow give it significant influence over Russia’s actions. He suggested these measures remain in place until Russia halts its military operations in Ukraine. The appeal comes amid heightened tensions, following recent Russian drone incursions into NATO member Poland, and as U.S. lawmakers push for tougher sanctions. While some European nations, including Turkey, Hungary, and Slovakia, continue to import Russian oil, Trump insists a united economic front could bring the conflict to a swift cl...
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TSX Futures Slide Amid Global Market Turmoil

 

Futures linked to Canada’s main stock index took a tumble on Tuesday, echoing the brutal sell-off seen across global markets on Monday. The trigger? Recession fears in the United States.

September futures on the S&P/TSX index were down 1.8% at 6:48 a.m. ET (10:48 GMT). Investors worldwide scrambled toward safe-haven assets after weaker U.S. economic data last week raised concerns about a recession in the world’s largest economy.

While investor sentiment was partially soothed by a rebound in U.S. services sector activity and signals of rate cuts from Federal Reserve policymakers, the benchmark U.S. S&P 500 and Nasdaq both closed 3% lower on Monday.

Canadian markets were closed for a holiday, but attention remains on domestic employment figures due later this week and a host of Fed policymakers scheduled to speak throughout the month.

In corporate news, Suncor Energy and iA Financial are set to report their quarterly figures after the closing bell today.

Commodities at 6:48 a.m. ET:

  • Gold futures: $2,423 (+0.5%)
  • U.S. crude: $73.32 (+0.5%)
  • Brent crude: $76.62 (+0.4%)

Stay tuned for further updates as the market volatility continues.





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