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United States · US–China economic relations
US and China open New York talks on AI, critical minerals and tariffs
US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng began talks in New York on September 20 to prepare possible agreements for this week's Trump-Xi summit. The agenda includes the trade truce expiring in November, rare-earth and critical-mineral flows, tariffs on non-strategic goods and AI guard rails.
Why it matters
The talks could affect US-China tariffs, agricultural and aircraft purchases, rare-earth and semiconductor supply chains, and coordination on AI risks. Only the start of negotiations is confirmed; no agreement, tariff relief or new mineral-supply commitment has been announced.
Canada and France launch joint work on space-launch and ground-reception systems
Prime Minister Mark Carney said on September 20 that Canada and France had tasked their space agencies and defence ministries with jointly developing space-launch systems and ground-reception facilities. The action was announced at a joint press conference in French Saint-Pierre-et-Miquelon.
The decision moves plans for deeper security and technology ties into a specific joint-development assignment with potential effects on the space industry, defence communications and ground infrastructure. Budgets, timelines, implementing bodies, launch locations and procurement arrangements have not been disclosed.
CXMT says fifth-generation DRAM platform has entered mass production
Chinese memory-chip maker CXMT said on September 20 that its fifth-generation DRAM platform had entered mass production and unveiled two 24Gb LPDDR5X mobile-memory products. The company says the platform produces at least 50% more gross chip dies per wafer.
If production scale, yield and customer adoption match the company's expectations, the platform could strengthen China's position in the global DRAM supply chain and affect smartphone supply, chip pricing and US–China semiconductor competition. Performance and cost figures currently rely mainly on company disclosures.
Moscow-region officials updated the toll from the September 20 aerial attack to two dead and 20 wounded, with about 400 evacuated; a Moscow oil refinery and residential building were damaged. President Volodymyr Zelenskyy said Ukrainian missiles and drones targeted Russian oil and logistics facilities.
Ukraine has now acknowledged the long-range strike and stated its economic-pressure objective, replacing the earlier status that Kyiv had not commented. Russian interception totals and the claim that the attack aimed to disrupt voting remain unverified, while casualty and damage figures may change.
The Federal Communications Commission approved Paramount's proposed indirect foreign-ownership structure for its Warner Bros. Discovery acquisition. Saudi, Qatari and Emirati sovereign funds committed a combined $24 billion, with non-voting interests; antitrust litigation still prevents the transaction from closing.
The decision concerns the ownership structure of major U.S. news and entertainment assets and the influence of foreign state capital. FCC approval covers the foreign-equity arrangement, not final clearance of the merger itself.
China investigates Meituan and Alibaba units, Tongcheng and Tujia
Beijing's market regulator opened investigations on September 19 into four online hotel and travel-booking platforms linked to Meituan, Alibaba, Tongcheng and Tujia over suspected violations of unfair-competition rules.
The probes involve major Chinese travel and consumer-service platforms and could affect hotel commissions, search placement, pricing and contracts. An investigation is not a finding of wrongdoing; conclusions and remedies have not been announced.
Canada's trade minister targets a year-end India pact as negotiators prepare October talks
International Trade Minister Maninder Sidhu said Canada is optimistic about concluding a comprehensive economic partnership agreement with India by the end of 2026. Indian negotiators are expected in Canada next month, with energy, nuclear cooperation and critical-mineral investment among the priorities. No agreement has been signed.
A completed pact could affect Canadian exporters, investors and energy and critical-mineral supply chains. It remains a negotiation, with tariff schedules, services access and an effective date still undisclosed.
All 50 states join Medicaid international-reference drug pricing model
The Trump administration announced on September 18 that all 50 states, Washington, D.C., and Puerto Rico agreed to participate in Medicaid's GENEROUS drug-pricing model, under which participating manufacturers offer prices for selected medicines closer to those in other wealthy countries.
Medicaid covers tens of millions of low-income people, people with disabilities and older adults. If the discounts are implemented, they could affect state and federal budgets and prescription-drug spending. Contract terms, covered medicines, actual prices and direct patient benefits remain unclear, so projected savings are not guaranteed outcomes.
Reuters: U.S. and China discuss LNG tariff cuts; no final deal
Reuters reported on September 18, citing two people briefed on the talks, that the United States and China are discussing reducing or eliminating China's 15% tariff on U.S. liquefied natural gas. Neither government has formally confirmed an LNG arrangement.
If completed, the measure could revive U.S.-China LNG trade after it collapsed following the 2025 tariff, affecting U.S. export projects, Chinese energy procurement and global gas prices. The talks are unfinished, and the rate, product coverage and announcement timing could change.
Trump to meet Venezuela's interim president Rodríguez in New York
U.S. Ambassador to the United Nations Mike Waltz said on September 18 that President Donald Trump will meet interim Venezuelan President Delcy Rodríguez during a UN General Assembly leaders' reception in New York next Tuesday.
It will be their first face-to-face contact since the United States removed Nicolás Maduro in January. No agenda has been announced, but the meeting follows a recent U.S.-Venezuela energy agreement and marks a significant diplomatic opening.
Federal judge rules EPA's termination of $7 billion solar program unlawful
A federal judge in Rhode Island on September 18 vacated the Environmental Protection Agency's termination of Solar for All, ruling that the agency exceeded its authority. Congress rescinded unobligated balances, not the $7 billion already committed.
The program awarded funds to 60 states, tribes and nonprofits and was initially expected to help nearly one million low-income households access solar energy. The ruling restores its administrative footing, though appeals and related funding cases may affect delivery.
Trump signs Russia sanctions law granting tariff powers of up to 100% against major energy buyers
President Donald Trump signed H.R. 5334 on September 18, enacting the Lindsey O. Graham Sanctioning Russia and Iran Act. The law expands sanctions on Russia’s energy, defense and shadow fleet and authorizes tariffs of up to 100% on major importers of Russian oil and gas and countries that facilitate sanctions evasion.
China, India and other economies designated as leading buyers of Russian energy or facilitators of sanctions evasion could be affected, with consequences for global trade, energy prices and consumer costs. The bill does not name target countries and gives the president broad discretion over designations and waivers.
Update: Saudi coalition says Houthi ballistic missile toward Riyadh intercepted; airport-area fire cause unknown
The Saudi-led coalition said on September 19 that air defences destroyed a Houthi ballistic missile fired toward Riyadh and that attacks on Yanbu, Taif, Baysh and Farasan were also thwarted. The Houthis acknowledged a missile-and-drone operation; whether the smoke and flames near Riyadh airport were caused by the interception remains unconfirmed.
This is the first confirmed ballistic-missile attempt against Riyadh since the Saudi-Houthi escalation began in July and marks a major regional-security escalation. No casualties or damage have been reported; travellers should keep checking Civil Defence, airport and airline notices.
US lifts sanctions on Eritrea's ruling party, military and linked entities
The US Treasury's Office of Foreign Assets Control confirmed that Eritrea's ruling party, defense forces and entities including the Red Sea Trading Corporation were removed from the SDN list after a 2021 national emergency tied to Ethiopia's humanitarian and human-rights crisis expired.
The removals are a substantive shift in US policy toward the Horn of Africa and end the related asset-blocking and transaction restrictions. Eritrea's position near the Red Sea and Bab el-Mandeb gives the decision wider strategic significance as regional shipping risks rise.
Warren Buffett steps down as Berkshire chair; Howard Buffett takes non-executive role
Berkshire Hathaway said on September 18 that 96-year-old Warren Buffett became chairman emeritus and remains a director. His 71-year-old son Howard Buffett is now non-executive chair, while Greg Abel continues as chief executive.
The change completes Berkshire's split of top responsibilities: Abel runs the company, while Howard leads the board and safeguards its culture. Investors will watch capital allocation and governance at the roughly $1.1 trillion conglomerate after the Buffett era.
Carney proposes Canadian entry to Erasmus+ as broader EU framework remains undefined
In an address to the European Parliament, Mark Carney proposed Canadian participation in the EU's Erasmus+ student exchange and next-generation Horizon research programs. This is still a negotiating proposal, not approved membership, while the broader ‘associate member’ framework also remains undefined.
A successful negotiation could expand exchange and research opportunities for Canadian students and institutions. There is no new Erasmus+ eligibility yet and no new EU work, residence or free-movement right.
Arab Media Summit opens in Dubai and runs through September 17
The Government of Dubai Media Office confirms that the 2026 Arab Media Summit runs from September 15 to 17 at Dubai World Trade Centre and is the event's largest edition so far.
People travelling to the venue or nearby business district should confirm registration, entry and transport arrangements. An event announcement does not mean unrestricted public admission.
Singapore groups its 2026 National Day Rally plans into four themes
Singapore's government updated its National Day Rally hub on September 12, organising announcements around family support, technology with safeguards, a measured open population policy and long-term planning for the outer islands.
Childcare leave, housing support and dialect-media rules do not all start at once. Residents should use the linked agency releases for eligibility and timing rather than treating a speech summary as an immediate entitlement notice.
London seeks views on plan for the city's next 20–25 years
London City Hall is consulting on a new draft London Plan covering housing, transport, growth and public space over the next 20–25 years. An in-person briefing is set for September 22 and an accessible online session for September 24.
Residents, communities and businesses can respond through the official consultation. Attending a briefing is not the same as filing a formal response, so follow City Hall's stated method and deadline.
Panama Canal cuts daily transit slots to 32 from today
The Panama Canal Authority says below-expected watershed rainfall means Panamax daily slots fall to 23 on September 15. Together with nine Neopanamax slots, the canal's daily transit capacity is now 32.
Vessels without reservations may wait longer, so shipping, retail and manufacturing businesses should watch schedules and freight costs. The adjustment does not mean the canal is closed.
EU's first full-scale CO2 storage project begins operations in Denmark
Greensand Future officially opened in Denmark on September 18 as the European Union's first CO2 storage site to meet the full-scale operating threshold. Its first phase can store up to 400,000 tonnes a year.
The project links capture, transport and permanent storage beneath the North Sea in a commercial chain, marking an important step for EU carbon-management infrastructure. Its initial capacity remains small compared with Europe's total emissions.
Hong Kong's dog-friendly dining list nears 1,000 venues
Hong Kong relaxed a decades-old restaurant rule in July, allowing customers to bring dogs into an initial group of more than 900 licensed premises. The current FEHD list is near 1,000, but only specifically permitted venues are covered.
Owners should check the FEHD list and the venue's own arrangements, keep dogs on short leashes and off tables, and avoid reusable human utensils. Ordinary restaurants do not automatically become dog-friendly.
Bank of Japan raises policy rate to 1.25%, a 31-year high
The Bank of Japan voted 7–2 on September 18 to raise its policy rate from 1% to 1.25%, the highest level since 1995. Two board members dissented, arguing for a pause in further tightening.
The decision is another step away from Japan's long era of ultra-low rates and may affect the yen, global funding costs and Asian markets. The increase was widely expected, but the yen weakened after the announcement.
Oil jumps as Yanbu loadings pause and Libyan fields halt production
Saudi crude loadings at Yanbu were reported suspended while the East–West pipeline remained shut, and three Libyan fields halted during protests. Brent rose 3.3% to $109.20 on September 15.
Fuel, aviation, freight and food costs may face more pressure. Canadian producers may benefit, while households face higher inflation risks.
Trump says Canada–EU associate status could be a ‘hostile act,’ threatens heavy tariffs on Europe
President Donald Trump said the EU proposal to make Canada its first associate member could be viewed as hostile if intended to harm U.S. interests, warning of very high tariffs on Europe. Canada has not received that status, and no new tariffs have been imposed in response.
Closer Canada–EU ties are becoming a new factor in U.S.–Canada trade tensions and transatlantic relations; any future retaliation could affect trade and supply chains across North America and Europe.
Trump plays down AI fears and says the U.S. must stay ahead of China
President Trump opposed a major slowdown in AI development, citing the need to preserve U.S. leadership over China as researchers continue to call for stronger safeguards.
The U.S.–China AI race can shape Canadian investment, talent, regulation and defence cooperation, though Canada has announced no new policy in this report.
Cuba’s national power grid collapses, blacking out an island of about 9 million people
Cuba’s Ministry of Energy and Mines said on September 18 that the national electricity system had suffered a total collapse, causing an islandwide blackout. Officials had not yet announced the cause, a restoration timetable or the extent of early reconnection work.
This is a nationwide critical-infrastructure failure. Hospitals, water systems, communications, transport and food refrigeration may have to rely on backup power, but the actual effect on those services had not yet been officially detailed.
Iran says it struck tanker Trend in Strait of Hormuz; specific attack not independently confirmed
Iranian state media, citing the Revolutionary Guard, said Iran struck the Togo-flagged tanker Trend over an alleged “illegal attempt” to transit the Strait of Hormuz. Associated Press could not independently confirm the claim. UKMTO separately reported a vessel security incident nearby, but it was unclear whether it was the same event.
The Strait of Hormuz is one of the world’s most important energy corridors. Even with no reported crew casualties or environmental damage in the UKMTO report, continued attacks could raise shipping, insurance and energy costs.
Trump orders steps to restrict Canadian goods from U.S. federal civilian procurement
A September 16 presidential memorandum directs U.S. agencies to identify Canadian-origin items and pursue legally permitted steps to remove them from federal civilian procurement. It does not immediately ban every Canadian product from government purchasing.
If broad categories are ultimately excluded, Canadian manufacturers and suppliers selling to the U.S. government could be directly affected and Ottawa could consider additional trade responses.
The Fed voted unanimously on September 16 to raise its target range by a quarter percentage point, citing elevated inflation.
The change may affect the US dollar, bonds and global financing costs. It is not a Bank of Canada decision and does not automatically change Canadian borrowing rates.
Canadian building permits fall 17.3% in July; Ontario down 25.2%
Statistics Canada's September 16 release puts national permit value at C$12.2 billion and Ontario's at C$4.6 billion.
Permit data are a leading indicator of construction intentions and can inform assessments of Ontario activity and housing supply. They are not home-price or completion data.
Xi pushes ‘Greater BRICS’ cooperation on trade, finance and AI
China proposed closer BRICS cooperation in trade, finance, artificial intelligence and special economic zones. Much of the plan remains a set of initiatives rather than implemented common policy.
The expanded group spans Asia, Africa, Latin America and the Middle East, potentially changing the competitive landscape for Canadian minerals, energy, agriculture and technology.
Saudi cities briefly receive security alerts before Civil Defence issues all-clear
Saudi Arabia issued potential-danger alerts in Mecca, Jeddah, Taif and other locations on September 15. Civil Defence later said the danger had passed in Jeddah, Abha, Jazan, AlUla, Taif and Yanbu. Authorities did not immediately confirm an impact or damage from incoming weapons.
The alerts show that the Yemen conflict and missile-and-drone threat now reach a wider range of Saudi cities and Red Sea energy hubs. Although this alert ended, residents and travellers should rely on current Saudi Civil Defence, airport and airline notices.
United States · Media merger and regulation