Business & Economy
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Business & Economy
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Trump proposes 'merged' US, Canada |
President-elect Trump on Monday raised the idea of a "merged" United States and Canada after Prime Minister Justin Trudeau announced his resignation. |
Trump wrote in a post on his Truth Social site that, if both nations were to become one, "there would no Tariffs" and that "taxes would go way down."
He also said Canada would be "TOTALLY SECURE from the threat of the Russian and Chinese Ships that are constantly surrounding them," and argued many Canadians would "LOVE" the idea of being the “51st State” of the U.S.
Trump added that the merger would be beneficial for the U.S., because it would “no longer suffer” from “massive Trade Deficits” and subsidies that it provides to Canada. Trudeau, who has served as Canada’s prime minister for nine years, announced Monday that he would be resigning before general elections later this year. His Liberal Party, which Trudeau has led for 11 years, is polling poorly, and the leader has faced mounting crises, including the resignation of a top minister and a confrontation with Trump’s 25 percent tariff plan, among other issues. The Hill's Tara Suter has more here. |
Welcome to The Hill’s Business & Economy newsletter, we’re Aris Folley and Taylor Giorno — covering the intersection of Wall Street and Pennsylvania Avenue.
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Key business and economic news with implications this week and beyond: |
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Fast food giant McDonald’s has become the latest company to roll back diversity, equity and inclusion (DEI) commitments following the Supreme Court’s 2023 decision ending affirmative action in college admissions. |
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The Cybersecurity and Infrastructure Security Agency (CISA) said Monday that there is “no indication” other federal agencies were impacted by the recent breach at the Treasury Department. |
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President-elect Trump is denying a report in The Washington Post that outlines how his top aides are exploring a tariff plan that would only cover critical imports. |
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U.S. Steel and Japanese steelmaker Nippon Steel sued the U.S. government Monday in a last-ditch effort to move forward with their merger, which President Biden blocked Friday over national security concerns. |
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Upcoming news themes and events we're watching: |
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Richmond Fed President Thomas Barkin is slated to speak Tuesday at a Greater Raleigh Chamber economic forecast event at 8 a.m. ET.
- The Labor Department releases job opening data for November at 10 a.m.
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Business and economic news we've flagged from other outlets: |
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Biden killed US Steel deal even though some US officials rejected national security concerns (CNN)
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Fed Vice Chair Says He’s Leaving Role Early to Avoid Fight With Trump (The New York Times)
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Trump’s tax cuts are about to unleash chaos on the Hill. Here’s how. (Politico)
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Top stories on The Hill right now: |
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Canadian Prime Minister Justin Trudeau’s resignation on Monday signals the extent of the unpopularity facing the country’s progressive Liberal Party, which has dominated its politics for decades ... Read more
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President-elect Trump pitched the idea of a “merged” United States and Canada after Canadian Prime Minister Justin Trudeau announced his resignation, noting there would be no tariffs if the two countries were one. Read more |
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Opinions related to business and economic issues submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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President-elect threatened to use ‘economic force’ to make northern neighbor part of US. Justin Trudeau has rejected threats from Donald Trump that the US could use “economic force” to annex its ...
The Guardian - 8h
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Politico - 10h
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"Shark Tank” star Kevin O’Leary said Monday that the concept of the U.S. and Canada merging into one country is "very interesting." “I went to Palm Beach for a couple of days. On Saturday, we ...
The Hill - 14h
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Canadians woke up Tuesday to an uncertain future, after Prime Minister Justin Trudeau said he would resign and bring his near-decade in power to an end.
NBC News - 14h
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Eiji Hashimoto says legal action against blocking of takeover aimed at winning another review under new administration
Financial Times - 1d
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President-elect Trump pitched the idea of a “merged” United States and Canada after Canadian Prime Minister Justin Trudeau announced his resignation, noting there would be no tariffs if the two ...
The Hill - 1d
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Threat of rising costs brings post-pandemic rally to a halt
Financial Times - 3d
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Antony Vo, 32, convicted over January 6 riot, was supposed to begin nine-month prison term but instead fled to Canada. An American man who absconded after being sentenced to prison for his role in ...
The Guardian - Jan. 1
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Former White House attorney Ty Cobb, who served in President-elect Trump's first administration, sharply criticized U.S. District Judge Aileen Cannon for temporarily blocking the Justice Department ...
The Hill - 1h
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Sen. John Fetterman (D-Pa.) compared President-elect Trump’s talk of acquiring Greenland to the Louisiana Purchase. Fetterman joined Fox News, alongside Sen. Katie Britt (R-Ala.), on Tuesday to ...
The Hill - 3h
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Republican Luther Cifers defeated Democrat Jack Trammell in the special election for the state Senate's 10th District on Tuesday, according to Decision Desk HQ, maintaining Republicans’ grip on the ...
The Hill - 4h
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Former Rep. Matt Gaetz (R-Fla.) said in a new interview that he’s “starting to think about” running for governor of Florida in 2026. In an interview with the Tampa Bay Times, the former ...
The Hill - 4h
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Democrat JJ Singh has defeated Republican Ram Venkatachalam in the special election for the Virginia state House's 26th District, according to Decision Desk HQ. The seat was formerly held by Del. ...
The Hill - 4h
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Former White House attorney Ty Cobb, who served in President-elect Trump's first administration, sharply criticized U.S. District Judge Aileen Cannon for temporarily blocking the Justice Department ...
The Hill - 1h
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A New York appeals court judge Tuesday denied Donald Trump's bid for an emergency order halting the president-elect's scheduled sentencing Friday on criminal charges in the hush money case.
NBC News - 3h
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Sen. John Fetterman (D-Pa.) compared President-elect Trump’s talk of acquiring Greenland to the Louisiana Purchase. Fetterman joined Fox News, alongside Sen. Katie Britt (R-Ala.), on Tuesday to ...
The Hill - 3h
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Republican Luther Cifers defeated Democrat Jack Trammell in the special election for the state Senate's 10th District on Tuesday, according to Decision Desk HQ, maintaining Republicans’ grip on the ...
The Hill - 4h
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Unpaid medical bills will no longer appear on credit reports under a final rule announced by the Biden administration.
CBS News - 4h
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