Good day,

I’ve made a few changes to make The Canadian Take easier to read and keep you better informed. This morning, we have a busy mix of stories from across the country. Here is what you need to know, and why it matters.

Donald Trump’s temporary 10% global tariff is expiring, but instead of letting it disappear, his administration is replacing it with tariffs of 10% to 12.5% on imports from 60 trading partners. Canada will face the 10% rate.

The official reason is forced labour. Washington says the affected countries are not doing enough to stop goods made with forced labour from entering their supply chains. According to Reuters’ reporting on the new tariff system, oil, gas, fertilizer and certain goods protected by trade agreements are expected to avoid the new duty.

Here is the important context. These are not entirely new tariffs appearing from nowhere. Trump’s earlier emergency tariffs were struck down by the U.S. Supreme Court. His administration then used Section 122 to impose a temporary 10% tariff for 150 days. Now that measure is expiring, Section 301 of the Trade Act is being used to keep a broad tariff in place under a different legal justification.

At the same time, Canada is facing a separate threat of 50% tariffs on roughly $20 billion worth of Canadian products. Prime Minister Mark Carney says Canada is considering retaliation if those tariffs proceed.

Side Note: The legal explanation keeps changing, but for Canadian exporters, the broad 10% tariff pressure is effectively being kept alive.

OpenAI and Anthropic could be two of the biggest AI IPOs Wall Street has seen in years.

But investors don’t have to wait for those names to hit the public markets to get exposure to the AI boom.

MarketBeat’s 7 AI Stocks to Buy Now report reveals 7 publicly traded companies already positioned to benefit as the next wave of AI investment moves beyond the private model providers.

These are the stocks investors can buy today, before the IPO crowd rushes in.

See the 7 stocks

Residents in Boston Bar, North Bend, Boston Bar First Nation and nearby areas have faced evacuation orders because of a wildfire posing a serious risk to life and safety. EmergencyInfoBC’s evacuation notice told affected residents to leave immediately and travel north toward Kamloops.

Side Note: This is not only a local fire story. It affects homes, transportation, emergency access and communities throughout the Fraser Canyon.

University of Toronto professor Jacob Tsimerman has won the 2026 Fields Medal, one of the world’s most prestigious mathematics awards. According to the University of Toronto’s announcement, he is the first scholar based at a Canadian institution, and the second Canadian, to receive the medal since it was established in 1932.

His work includes helping prove the André-Oort conjecture, a problem that challenged mathematicians for decades.

Side Note: Canada spends a great deal of time talking about attracting and keeping world-class researchers. This is an example of globally recognized work being produced at a Canadian university.

Global oil prices have climbed above US$100 per barrel as conflict in the Middle East disrupts supply and raises fears of a longer energy shock.

For Canada, higher oil prices can bring more revenue to producers and governments, especially in Alberta. But they can also mean higher gasoline, transportation and food costs for households across the country.