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Bank of Canada Freezes Rates as Trump’s Tariff Threat Looms Over Economy

Bank of Canada Holds Rates Steady Amid Tariff Turmoil In a widely anticipated move, the Bank of Canada has opted to maintain its benchmark interest rate at 2.75% for the third consecutive time, as trade tensions with the United States intensify ahead of an August 1 tariff deadline. Economists had unanimously predicted the hold, citing mixed economic signals: while employment remains strong, core inflation continues to hover above the Bank’s target. Governor Tiff Macklem emphasized that monetary policy cannot offset the impact of prolonged trade conflicts, reiterating the Bank’s commitment to price stability for Canadians. The decision comes as President Trump threatens sweeping tariffs on Canadian goods, including a potential 35% blanket rate and sector-specific levies on steel, aluminum, and autos. These measures have injected uncertainty into business planning and consumer confidence, with many firms scaling back hiring and investment. Despite the hold, analysts warn that further...
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France Closes Israeli Arms Displays at Paris Airshow, Sparking Diplomatic Tensions


France has shut down four major Israeli weapons stands at the Paris Airshow, citing concerns over the display of offensive weaponry. The decision, which affected Elbit Systems, Rafael, Israel Aerospace Industries (IAI), and Uvision, has drawn sharp criticism from Israeli officials and defense companies.

French authorities reportedly instructed Israeli firms to remove offensive or kinetic weapons from their exhibits. When they refused, organizers erected black partition walls, effectively isolating the Israeli industry pavilions from the rest of the exhibition. The move comes amid growing tensions between France and Israel, particularly regarding Israel’s military actions in Gaza and its recent strikes on Iran.

Israel’s defense ministry condemned the decision as "outrageous and unprecedented," accusing France of using political and commercial motives to exclude Israeli defense products. Industry leaders also voiced frustration, with IAI’s president likening the partitions to historical segregation, while Elbit Systems’ senior vice president suggested France was attempting to stifle competition.

The Paris Airshow’s organizers have stated they are working to mediate the situation and find a resolution. However, the incident underscores the shifting dynamics in France-Israel relations and the broader debate over arms sales and military ethics on the global stage.

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