News & Events zu Warner Bros Discovery Inc (WBD)WBDWarner Bros Discovery Inc

Canada Suspends Trade Talks with U.S., Imposes 50% Tariff

Catch up on the weekend's top five stories with this list compiled by The Fly: 1) A statement by Canadian Prime Minister Carney reads in part: "In recent weeks, we made important progress toward improving Canada's position as having the best deal in the world with the U.S. However, that progress has not been enough to meet our objectives for Canadians. As a result, this evening, I have decided to suspend trade negotiations with the U.S. and have directed Canada's negotiators to return to Ottawa. They have worked hard, in good faith, to defend the interests of Canadians throughout these negotiations up until the very last minute. However, last-minute changes in the U.S. proposed terms were unfair, uneconomic, and called into question the reliability of any deal. At midnight tonight, the U.S. intends to impose a 50% tariff on roughly $28 billion of Canadian goods. Canada will match those tariffs dollar for dollar to protect our workers and businesses. In the coming days, the government will introduce additional measures to support Canadian workers and businesses, building on the nearly $25 billion in support provided over the past 18 months." 2) Paramount (PSKY) is preparing to start talks with California officials to potentially resolve an antitrust lawsuit preventing the company from completing its deal to acquire Warner Bros. Discovery (WBD), Joe Flint of The Wall Street Journal reports, citing people familiar with the matter. 3) Nvidia (NVDA) has told some of its largest customers that prices of servers containing AI chips are going to increase over 15% in many cases as memory chip costs skyrocket, Brody Ford and Ian King of Bloomberg reports. The increased prices will go into effect on systems shipped early next year, people familiar with the process told Bloomberg. 4) Alibaba Group (BABA) announced the pricing of its HK$80B placing of 710,000,000 newly issued ordinary shares of the Company to non-U.S. persons outside the United States, at a placing price of HK$112.70 per Placement Share. The Equity Placement is expected to close on August 26, 2026, subject to customary closing conditions. The Equity Placement is being undertaken to extend the Company's global AI leadership. Alibaba intends to use 100% of the net proceeds from the Equity Placement to invest in its full stack AI capabilities, including to expand and enhance its AI infrastructure. 5) TikTok and parent company ByteDance have agreed to pay $400M to resolve the U.S. Justice Department's allegations the social media platform violated children's online privacy, David Shepardson of Reuters reports. The defendants were accused of violating a law that required online services aimed at children to obtain parental consent to collect personal information from any user under 13 years old.