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U.S. Threatens Harsher Economic Pressure on Iran as Mediators Rush to Secure Second Ceasefire Talks

  A woman walks past a digital screen displaying news of US-Iran peace talks along a road in Islamabad on April 10, 2026 The United States has warned it will step up economic pressure on Iran while mediators race to arrange a second round of ceasefire talks before the fragile truce expires on April 22, 2026 — a standoff that risks higher oil prices, tighter global markets, and direct costs for Canadian households and investors.   Background and diplomatic timeline A two‑week ceasefire that paused nearly seven weeks of fighting was brokered to create a narrow diplomatic window for talks between Washington and Tehran. The first round of face‑to‑face negotiations in Islamabad lasted more than 20 hours but ended without an agreement, leaving the truce set to expire on April 22, 2026 unless mediators secure a follow‑up session.  Mediators led by Pakistan, with active roles from Turkey, Egypt and other regional actors, have been shuttling between capitals to bridge the remaini...
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Trump to Send “Take-It-or-Leave-It” Tariff Letters to 12 Nations on Monday


U.S. President Donald Trump announced that he has signed letters to 12 countries detailing new tariff levels on goods exported to the United States. The letters, described as “take it or leave it” offers, are scheduled to be dispatched on Monday, July 7.

Speaking aboard Air Force One en route to New Jersey, Trump declined to name the countries involved, stating that the list would be made public on Monday. The move follows a 90-day pause on elevated tariffs, which is set to expire on July 9. If no trade agreements are reached by then, the new tariffs—ranging from a base rate of 10% to potentially as high as 70%—will take effect on August 1.

Trump emphasized the simplicity of the letter approach, saying, “The letters are better… much easier to send a letter,” signaling a shift away from prolonged trade negotiations that have stalled with several major partners, including the EU and Japan.

So far, the U.S. has finalized trade deals with the United Kingdom and Vietnam, while talks with India and the European Union remain unresolved. The administration’s strategy marks a significant escalation in its efforts to reshape global trade relationships on what it calls “reciprocal” terms.

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