President Donald Trump’s latest trade fight with Canada has a faraway force at its center: China.

As Washington presses Ottawa to do more to prevent Chinese steel, aluminum and other goods from reaching the U.S. market through North American supply chains, Canada is pursuing renewed economic ties with Beijing, adding a fresh complication to already tense trade talks.

At the heart of the fight is transshipment — routing goods through an intermediary country, sometimes after limited processing, before they reach their final market. U.S. officials fear steel and aluminum made in China or elsewhere could be processed in Canada or Mexico and then enter the United States as regional content.

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President Donald Trump and Canadian Prime Minister Mark Carney have traded criticism following the collapse of U.S.-Canada trade negotiations. (Anna Moneymaker/Getty Images) / Getty Images)

The U.S. and Canada addressed that risk in a 2019 joint statement resolving an earlier steel-and-aluminum tariff dispute. The countries agreed to prevent steel and aluminum made outside the U.S. or Canada from being transshipped into the other country, and said they could distinguish between steel melted and poured in North America and steel made elsewhere.

U.S. trade hawks now argue Canada should accept tougher safeguards as Washington seeks to limit China’s role in critical manufacturing supply chains.

Canada claims it is already taking steps to keep foreign steel from flooding its market. Ottawa limits some steel imports from countries without a free-trade agreement, including China, and imposes a 50% surcharge once those limits are exceeded.

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China’s President Xi Jinping and President Donald Trump visit the Temple of Heaven on May 14, 2026, in Beijing, China.  (Brendan Smialowski/Pool/Getty Images / Getty Images)

But Canada has also moved to strengthen trade ties with Beijing.

In March, China agreed to reopen its market to several Canadian farm and seafood exports, including canola, peas, lobster and crab. Canada, meanwhile, established a 49,000-vehicle annual quota for Chinese EVs at the 6.1% most-favored-nation tariff rate, removing its previous 100% surtax.

Canada also extended tariff relief for some Chinese steel and aluminum products it says are in short supply. Officials say the arrangement is part of a broader effort to diversify Canada’s trade relationships. China is Canada’s second-largest merchandise trading partner.

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A container ship sails out of the port in Qingdao, in China’s eastern Shandong province on August 7, 2025.  (STR/AFP/Getty Images / Getty Images)

The arrangement has fueled criticism in Washington that Canada is moving in the opposite direction from the Trump administration’s effort to build a more China-resistant North American trading bloc.

For Trump, the growing question is whether Canada is willing to embrace the same approach — or whether it’s bid to expand trade with Beijing will become another fault line in an already tense relationship.

Jaguar Land Rover has delayed plans for an all-electric version of the Defender, its bestselling model, after placing a two-year pause on a full redesign of the vehicle as part of a cost-cutting shake-up at Britain’s biggest carmaker.

The pause applies to the standard, full-sized Defender. Plans for JLR’s “baby Defender”, a smaller electric version of the vehicle, will still go ahead.

The company has previously said that the “architecture” of the full-sized Land Rover Defender, relaunched in late 2019, means it is too difficult to incorporate an electric vehicle battery. As a result of those restrictions, it said customers would have to wait for the fully redesigned version to be launched.

That generational redesign had been anticipated in 2028-29, although no date had formally been announced. Sources familiar with the situation said it will now be delayed into the 2030s.

JLR said: “Defender is one of JLR’s greatest success stories. With more than 75 years of heritage, purpose and proven capability, it is our class-leading bestseller due to continued strong global demand and enduring brand appeal.”

The move comes with JLR’s new chief executive, PB Balaji, under pressure to cut costs following a tumultuous 18 months for the carmaker, according to industry sources. JLR is owned by the Indian giant Tata Motors.

The company has had to contend with President Trump imposing tariffs on its vehicles. While Sir Keir Starmer negotiated a deal to reduce import taxes on UK-made vehicles to 10 per cent, Balaji is understood to have conceded that even this increase cannot be passed on to American customers.

JLR is understood to have told staff that the two-year pause on the next version of the Defender is down to the current model’s success. The company is selling 110,000 Defenders a year, almost a third of the 350,000 cars it sold in total in its financial year to March 2026.

North America is JLR’s biggest single market, representing 28 per cent of sales. Earlier this month, the company announced it would begin manufacturing the Defender in the United States in conjunction with Vauxhall owner Stellantis, in order to avoid Trump’s tariffs.

American-bound Defenders are currently designed and engineered in the UK, with the engines built in Wolverhampton. But the vehicle’s final assembly line is in Slovakia, meaning it attracts US import tariffs of 15 per cent rather than 10 per cent, on account of being exported from the EU.

The decision to delay the Defender’s full redesign, and therefore push back an all-electric version of the car, comes as the UK consults on watering down electric vehicle sales targets. Initially hatched during the final throes of Sir Keir’s administration, Andy Burnham, the prime minister, has unveiled a consultation on reducing those targets, for the proportion of EVs among all new cars sold, to as low as 50 per cent by 2030, from the current goal of 80 per cent.

The consultation follows the government conceding that demand among UK drivers for EVs is lower than anticipated.

Ministers have insisted that a ban on the sale of new petrol and diesel cars in 2030 will remain in force, although there is scepticism within the industry about the feasibility of this commitment, as it may require 50 per cent of all cars sold to be hybrids and the government has yet to define exactly what constitutes a hybrid vehicle.

Amy Ingham

Amy Ingham is a reporter at Business Matters, covering UK business news with a focus on breaking news, business policy, late payments and insolvency. She joined the magazine in 2026 after completing the NCTJ Diploma in Journalism at Harlow College’s journalism school. Her recent reporting includes British Steel’s nationalisation and its impact on SME suppliers, the decline in late payments by large firms, and Insolvency Service director disqualifications. Reach her at aingham@cbmeg.co.uk.

Fans of “The Voice UK” reacted with frustration Saturday night after the ITV singing competition returned for a new series without its traditional opening coaches’ performance, a staple of the show’s format that had appeared at the start of every previous season for 15 years.

The show returned Saturday with will.i.am, Sir Tom Jones, and McFly members Danny Jones and Tom Fletcher back in their coaching chairs, joined for the first time by Destiny’s Child singer Kelly Rowland as the newest addition to the panel. While fans expressed excitement at seeing Rowland take her place in the show’s signature spinning red chair, many were disappointed that her debut did not include participation in the coaches’ traditional group performance, which typically opens each new series.

Instead of the customary performance, Saturday’s episode simply introduced the coaches directly to the audience without the accompanying musical number. The change quickly drew criticism from longtime viewers on social media. One fan wrote on X, “They got Kelly Rowland on the panel and for the first time in 15 years DIDN’T open the series with a coaches performance?! Fire the producers #TheVoiceUK.” Another viewer echoed the frustration more bluntly, writing, “No coach performance?!? wtf #TheVoiceUK.” A third fan questioned whether the segment had simply been left out of production entirely, tweeting, “Did they not film a coaches performance this year or what.”

Beyond the absent tradition and Rowland’s arrival as a new coach, Saturday’s premiere also introduced a new format twist to the show: a “rewind button.” The new feature gives each coach the opportunity to offer a singer a second chance to turn their chair, even if that coach did not initially turn around during the contestant’s original performance.

Coach Danny Jones offered an enthusiastic endorsement of the new mechanic following its debut. “The Rewind Button is a total game-changer!” Jones said. “It’s brilliant because it gives that extra bit of power to right a wrong.”

Rowland’s arrival on the panel marks a significant casting change for the British edition of the singing competition, bringing a globally recognized music star with decades of experience in the industry to the show’s coaching lineup for the first time. Her introduction alongside returning coaches will.i.am, Tom Jones, Danny Jones and Tom Fletcher rounds out a panel blending established “Voice UK” veterans with a high-profile new addition, even as that debut came without the customary fanfare of a joint opening performance that fans had come to expect from the format.

“The Voice UK” has run for multiple seasons on ITV, building a loyal fan base around its signature blind-audition format, in which coaches select contestants based solely on their vocal performances before seeing them, followed by a competitive process in which coaches mentor and battle for their chosen singers through the remainder of the series. The coaches’ opening performance had become an established tradition within that broader format, typically used to introduce each season’s panel with a collaborative musical number before the blind auditions themselves get underway.

The show’s producers have not publicly addressed the reason behind the absence of the traditional opening performance during Saturday’s premiere, leaving fans largely to speculate about whether the segment was intentionally cut from this year’s format, simply not filmed, or held back for a later broadcast. As of this report, ITV had not issued a statement clarifying the decision or indicating whether the coaches’ performance might still appear in some form later in the current series.

Saturday’s episode continues to air as part of “The Voice UK’s” regular Saturday night broadcast slot on ITV1, with episodes also made available for streaming through the network’s ITVX platform. The series has continued to draw a dedicated weekly audience throughout its run, with fan reaction to individual episodes, casting changes and format tweaks frequently generating significant discussion on social media in the hours following each broadcast, a pattern reflected in Saturday’s swift and pointed criticism over the missing coaches’ performance.

The introduction of Rowland to the panel adds to a broader pattern of coaching lineup changes the British version of “The Voice” has undergone throughout its run, with the show periodically refreshing its panel to maintain audience interest and bring new perspectives to the competition. Previous coaches on the UK edition have included a rotating cast of prominent musicians and personalities over the years, with the current lineup of will.i.am, Tom Jones, Danny Jones, Tom Fletcher and now Rowland representing the newest configuration heading into the current series.

With the season’s blind auditions now officially underway following Saturday’s premiere, attention is likely to shift toward how Rowland’s coaching style and song selections compare with her fellow panelists as the competition progresses, alongside continued fan reaction to the newly introduced rewind button mechanic, which offers coaches a fresh strategic tool for securing talented contestants they may have initially missed during the standard blind audition process. Whether the traditionally expected coaches’ opening performance returns in some capacity later in the season remains unclear, though Saturday’s strong fan reaction suggests the missing tradition is likely to remain a talking point among viewers as the series continues.

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Nvidia earnings put the AI trade back in focus. (0:33) Kevin Warsh heads to Jackson Hole as bond vigilantes stir. (1:32) Canada hits back with retaliatory tariffs on U.S. imports. (2:33)

The following is an abridged transcript:

The summer doldrums disappear with a huge week ahead for stocks and bonds.

Nvidia (NVDA) stars Wednesday with what has become the biggest earnings event on Wall Street. On Friday, Fed Chairman Kevin Warsh gives the keynote address at the Jackson Hole Symposium at a time when bond vigilantes are stirring.

With Nvidia, investors will be looking for updates on AI infrastructure demand, product ramp timing, China exposure and the economics of the chipmaker’s expanding financing partnerships. Options traders are pricing in a roughly 6% move in Nvidia shares following the report.

Seeking Alpha analyst Mott Capital said investors and traders may be left with “the post-Nvidia earnings hangover” again if the numbers are good but not spectacular.

“A decline could be sharp, pushing the stock down by as much as 11% to an important area of technical and options-related support at $190, while upside seems limited,” they said.

The results could reverberate across the semiconductor and AI complex. Marvell Technology (MRVL), Micron (MU), Arm (ARM) and Advanced Micro Devices (AMD) have shown some of the closest trading correlations with Nvidia following earnings.

Here’s how the rest of the earnings calendar shapes up:

PDD Holdings (PDD) and XPeng (XPEV) report Monday.

Intuit (INTU) reports Tuesday.

On Wednesday, Nvidia is joined by CrowdStrike (CRWD), Salesforce (CRM), HP Inc. (HPQ) and Okta (OKTA).

Marvell (MRVL) and Ulta Beauty (ULTA) report Thursday.

Looking to Jackson Hole, Warsh will speak at 10 a.m. ET Friday.

At his last press conference, Warsh indicated that higher Treasury yields were doing the job of tightening financial conditions for the Fed. But since then, higher yields have spooked the White House, leading Treasury Secretary Scott Bessent to boost buybacks of longer-dated debt in an attempt to tamp down rates.

Seeking Alpha analyst Geneva Investor says “the two men want opposite things in the long end.”

“Bessent wants the 10-year and 30-year lower, and has said so repeatedly,” they said. “Warsh wants a smaller Fed footprint concentrated at the front end of the yield curve, which mechanically raises the long end.”

“Bessent wants a larger FIMA facility, which expands the balance sheet. Warsh wants the $6.7T balance sheet to come down.”

Seeking Alpha analyst Damir Tokic said Warsh will be under the spotlight to address the current bond market selloff, “and he will restate that real rates are rising, while inflation expectations remain anchored, so that will be a dovish message.”

“However, with this dovish message, the nominal long-term rates will continue to rise, steepening the yield curve,” he added.

In the news this weekend, Canadian Prime Minister Mark Carney said his country will impose retaliatory tariffs on a wide range of U.S. imports starting Sept. 8 in response to the Trump administration’s new 50% tariffs on Canadian goods.

His remarks came after weeks of trade negotiations between the two sides collapsed late Friday. The new U.S. tariffs, which could impact roughly $20B worth of Canadian exports, took effect immediately.

Meanwhile, President Trump posted on Truth Social that Canada has “charged our great farmers, for many years, massive amounts of Tariffs.”

He added that “Canada wants the benefits of being a State, without being one!!!”

And for income investors, 3M (MMM) goes ex-dividend Monday, paying out on Sept. 11.

Hyatt (H) goes ex-dividend Thursday, with a Sept. 10 payout date.

T-Mobile (TMUS) and eBay (EBAY) go ex-dividend Friday. T-Mobile pays out on Sept. 10 and eBay on Sept. 11.

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Samsung is preparing what could be one of its most significant flagship redesigns in years with the Galaxy S27 Ultra, according to a growing wave of leaks pointing toward a departure from the phone’s familiar camera layout, a new 2-nanometer processor, and an expanded four-device lineup that would introduce a new Galaxy S27 Pro model when the series launches in early 2027.

According to AnalyticsInsight, recent leaks suggest Samsung plans to move away from the separate camera rings that have defined recent Galaxy Ultra models, replacing them with a single, unified camera island intended to give the phone a cleaner overall appearance. Additional reported changes include a flat titanium frame, thinner display borders, IP68 water and dust resistance, and a built-in S Pen, continuing one of the signature features that has long distinguished the Ultra tier from the rest of Samsung’s flagship lineup.

Android Central reported that tipster Anthony, who posts under the handle @TheGalox_ on the social platform X, shared a detailed specification list in late July pointing to several major hardware upgrades for the device. According to that leak, the Galaxy S27 Ultra is expected to feature a 6.9-inch QHD+ “Privacy Display,” a screen technology designed to limit visibility of sensitive content from onlookers at off-center viewing angles, alongside a Snapdragon 8 Elite Gen 6 Pro for Galaxy processor and either 12 gigabytes or 16 gigabytes of RAM. The same leak pointed to a substantial battery upgrade, with the device reportedly moving to a 5,700 milliamp-hour silicon-carbon battery, a significant jump from previous generations that could deliver meaningfully longer endurance for heavy users. On the camera front, the leak described a 200-megapixel main sensor, a 50-megapixel ultrawide lens, and both a 50-megapixel 5x telephoto lens and a second telephoto camera, alongside an upgraded 16-megapixel front-facing selfie camera featuring optical image stabilization for steadier video and improved low-light performance.

BigGo Finance offered further detail on Samsung’s broader strategic shift for the 2027 lineup, reporting that leaks point to a new four-tier product structure that would insert the Galaxy S27 Pro between the existing Plus and Ultra models. According to that report, both the Ultra and the new Pro model are expected to use Qualcomm’s custom Snapdragon 8 Elite Gen 6 Pro for Galaxy chip, built on a 2-nanometer manufacturing process, while the standard base models are expected to use a mix of Samsung’s own Exynos 2700 chip and Snapdragon processors depending on region. BigGo Finance also reported that the Ultra’s camera system is being streamlined into a triple-lens array centered around the 200-megapixel main sensor and a 50-megapixel periscope telephoto lens, while higher-tier models are expected to adopt silicon-carbon battery technology pushing capacities beyond 5,500 milliamp-hours. Estimated pricing for the lineup, according to the same report, is expected to range from roughly $799 for the base model up to approximately $1,299 for the Ultra, with the new Pro model expected to sit between $999 and $1,099.

Tech Advisor’s coverage of the emerging Galaxy S27 Pro provided additional specification detail, reporting that the new model is expected to feature a 6.47-inch AMOLED display, positioning it between the anticipated 6.3-inch Galaxy S27 and the 6.7-inch Galaxy S27 Plus. According to that report, the Galaxy S27 Ultra is expected to carry a 5,700 to 5,800 milliamp-hour battery, while the more compact Galaxy S27 Pro is rumored to feature a 5,200 milliamp-hour cell, a capacity that would already exceed the current Galaxy S26 Ultra’s battery. Tech Advisor also noted that Samsung’s traditional split between Exynos and Snapdragon chipsets is expected to continue across the lineup, with Exynos typically reserved for the base and Plus models in most global markets while Snapdragon powers the Ultra, except in the United States, where Snapdragon has historically been used across the entire lineup.

Memory and storage configurations for the Galaxy S27 Ultra have shifted in recent leaks. AndroidHeadlines reported that Samsung was initially rumored to adopt newer LPDDR6 RAM and UFS 5.0 storage for the device, but more recent leaks suggest the company will instead stick with LPDDR5X RAM and UFS 4.0 or UFS 4.1 storage, a decision that AnalyticsInsight attributed largely to rising component costs across the broader semiconductor supply chain. Storage options are expected to include 256 gigabytes, 512 gigabytes and 1 terabyte configurations, with RAM starting at 12 gigabytes and a possible 16-gigabyte option available on higher-end configurations.

GSMArena’s reporting offered insight into the internal codenames Samsung is reportedly using for the 2027 lineup, describing the four devices as NM1, NM2, NM3 and NM4, with “NM” believed to stand for “new miracle” or “next miracle.” Under that naming scheme, NM1 corresponds to the base Galaxy S27, NM2 to the Galaxy S27 Plus, NM3 to the newly introduced Galaxy S27 Pro, and NM4 to the Galaxy S27 Ultra. According to the same report, Samsung is reportedly testing a new 50-megapixel main camera sensor supplied by Sony for use in the base Galaxy S27 and Galaxy S27 Plus models, while confirming that both the Pro and Ultra tiers will retain a 50-megapixel ultrawide camera.

Not every camera-related rumor surrounding the Galaxy S27 Ultra has pointed in the same direction, however. Notebookcheck reported that while earlier leaks had suggested Samsung might adopt Sony’s newly released 200-megapixel LYT-901 sensor for the device’s main camera, more recent commentary from prominent leaker Ice Universe indicated Samsung currently has no plans to adopt that specific sensor for its next-generation flagship lineup, leaving some uncertainty around the exact camera hardware Samsung will ultimately settle on ahead of the phone’s official unveiling. Separately, GSMArena reported that Samsung is developing its own new 200-megapixel ISOCELL sensor internally, reportedly codenamed HPA, featuring a large 1/1.12-inch sensor format and support for LOFIC technology, a sensor that tipster Digital Chat Station suggested could plausibly find its way into the Galaxy S27 Ultra despite no explicit confirmation tying the two together.

The Galaxy S27 Ultra is widely expected to officially launch during the first quarter of 2027, consistent with Samsung’s typical early-year release pattern for its flagship Galaxy S series, according to multiple outlets tracking the device’s development. As with any smartphone still many months away from an official unveiling, the specific hardware, pricing and design details outlined across these various leaks remain unconfirmed by Samsung and subject to change as the company finalizes its plans ahead of the eventual launch event. Given the volume and consistency of leaks emerging well over a year before the device’s expected release, however, industry observers continue to treat the broader strokes of the reported redesign, including the shift toward a unified camera module, the introduction of a new Pro tier, and the move to a 2-nanometer processor, as increasingly likely elements of Samsung’s next major flagship smartphone lineup.