Economy

The tariff crisis  Trump's tariff policy
Canada responds with tariffs on 700 American goods

Canada is responding to the US with retaliatory tariffs on goods worth the equivalent of $20 billion, equivalent to just under 190 billion kronor, the country's government announced. The counter-tariffs match the US's new tariffs dollar for dollar and percent for percent, says Finance Minister Francois-Philippe Champagne according to Reuters.

- Together with a multi-billion dollar support package, they will protect workers, farmers, families and businesses, says the Finance Minister according to Reuters.

Canada's counter-tariffs will take effect on September 8 and cover about 700 products with tariffs of 15, 25 and 50 percent. The tariffs apply to furniture, steel, clothing, video game consoles and smartphones, among other things, writes Bloomberg. 

Today's Stock Market
Crypto stocks are catching up with the bitcoin rally

Crypto-related stocks are rising on Wall Street on Tuesday in the wake of last week's bitcoin rally.

Crypto exchange Coinbase is up 5 percent, bitcoin platform Riot and online broker Robin Hood are up around 7 percent and bitcoin owner Strategy is up around 4 percent.

During the night to Tuesday, bitcoin climbed above $80,000 for the first time since mid-May. At 8 p.m., the cryptocurrency was around $79,000.

Crypto Market
Bitcoin Climbs Above $80,000

The cryptocurrency bitcoin, whose value began to surge last week, has once again surpassed the $80,000 mark on Tuesday. The turmoil in the bond markets when the United States bought its own government bonds contributed to the rally – which was reinforced by short sellers being forced to close their positions, writes CNBC.

Bitcoin is still worth about 30 percent less than this time last year. At the end of August 2025, one bitcoin cost just over $110,000.

The mood on the stock market
Sources: Bessent is ready to act against interest rate traders

US Treasury Secretary Scott Bessent is considering stepping up the fight against the so-called bond watchdogs who are behind the sharp rise in long-term market interest rates. This is stated by sources for the New York Post.

The Finance Ministry may temporarily halt the issuance of certain long-term government bonds if investors continue to dump US government securities and push up interest rates.

– Bessent knows what he is facing – that is how he earned his living, says a source with insight into the newspaper.

Bessent, who himself was a former hedge fund manager, also knows that it would be a temporary solution to the US debt problem, says an economist with connections to the White House.

Swedish pensions
Sweden's largest pension fund snubs Space X

The AP7 pension fund, also known as the couch potato fund, snubbed Elon Musk's company Space X when the company was listed on the stock exchange at the beginning of the summer.

One of the main reasons is that AP7 believes that the company is not doing enough to stop illegal content on X.

– There were two reasons for this: firstly, shortcomings in corporate governance, and above all, a lack of a way to manage risks related to human rights, says asset management manager Lena Fahlén to TT.

In February this year, Elon Musk incorporated X, formerly Twitter, into his company Space X.