From china. This is on top of the most favoured nation tariff of 6. 1 already slapped onto chinese produced evs that are imported into canada. Now, the government also intends to apply a 25 tariff on imports of steel and aluminium products from china. Canadas finance minister, chrystia freeland, says these measures were about protecting domestic producers. The reality is china has an intentional state directed policy of overcapacity and oversupply, designed designed to cripple our own industries. Talk to the steel sector. Talk to the aluminium sector to understand how effective that has already been. We simply will not allow that to happen to our ev sector. The auto tariffs bring canada in line with its southern neighbour. The us introduced 100 tariffs on chinese made evs in may whilst the eu is also imposing higher tariffs. It comes after Us National Security advisorjake sullivan, whos en route to beijing, touted the need for a united front on tariffs when he met Withjustin Trudeau an
The s p and nasdaq shaking off earlier losses closing near the highs of the day. There is optimism out there about a economic recovery and also about hopes for a vaccine. So, optimistic day. We will get to the launch. Well spend a lot of the hour on it. First fox Business Team coverage of our top stories. Lauren simonetti on the markets for us, blake burman in washington who has the latest for the president who is in florida for the launch and Kristina Partsinevelos joins us with news on disney. We start, blake, with you. Reporter connell, melissa, speaking of that launch who wouldnt want a front row seat to it. Exactly where President Trump and first lady, the Vice President , section lady are right now in florida in advance of what we are expecting to be the historic launch about 31, 32 minutes from now at the Kennedy Space center. President trump taking a tour there. He was asked what his message is for those two astronauts who will be aboard the spacex rocket going up to the Intern
In patients using nhs services. Tamara ecclestone the daughter of former formula 1 boss, Bernie Ecclestone has a reported £50 million worth of jewellery stolen from her london home. Sleep in heavenly peace. The Prime Minister, Boris Johnson, will welcome more than a hundred new conservative mps and, 78 year old terrence who was surprised last week by bbc to westminster today as he aims breakfast after saying hed spent 20 to deliver on his election promise christmases in a row on his own to get brexit done. Is serenaded at Sheffield City hall. Parliament wont officially open until thursday, christmases in a row on his own so what can the new intake expect from their first week in westminster . Today, therell be a minor Cabinet Reshuffle to replace ministers who lost their seat or didnt stand for re election. Tomorrow, the speaker will begin the process of swearing in mps, who are required to take an oath of allegiance to the crown. On thursday, the queen will formally open parliament w
A couple of big stories this morning. Peloton pricing the ipo. Price tag at 29 a share raising about 1. 6 billion now valued at roughly 8. 1 billion makes about a billion in revenue but loses 245 million annually. Now under the ticker pton. The peloton ceo will join us live this morning. If you have questions sen them in peloton. 245 million in losses well talk about the math of that and where they see profits and what it all means. Does anyone know about the treadmill . I do. It is expensive. It is about 4,000 the bike is about 2,000 plus. I have one. The bike is quite a piece of equipment. It is heavy. It is really well made i just got one two weeks ago. You can have someone screaming at you you can go outside. It is there, all free. Eamon javers is with us the hardware is a highmargin product. Higher now than an iphone. It is the services and the investment and the media component costing them they are doing a lot of build outs is that recurring cost or eventually be built out . The
Healthcare and ill legal illeg. Raise your hand if your government plan would provide coverage for undocumented immigrants. [ cheering and applause ] maria there you go. Weve got highlights, the low lights and President Trumps reaction as well. Markets this morning look like this. Futures pointing toward a higher opening this morning, dow futures up 86 points right now, a third of a percent, s p futures up 7, and the nasdaq futures higher by 11. Yesterday the s p closed higher with snapping a four day losing streak. The s p and the nasdaq were higher but the dow was down 10 points at the close yesterday. Nasdaq up a 57 points at 4 00 on wall street. For the month of june, the markets are all sharply higher. The dow on pace for the best june since 1938. Actually as the president told us just the other day. European indices look like this, take a look at the gains across the board, fq100 up 19, cac up 12, dax up 52. In asia overnight, markets were down as investors away President Trumps