2026-07-02
[Bnn Bloomberg Canada]: U.S. decides against renewing CUSMA
The U.S. has decided against renewing its trade deal with Canada and Mexico. Instead, it is opting to conduct annual reviews of the trilateral agreement. The pact will remain in force for another decade, but the decision risks added uncertainty for companies producing goods across North America. Not renewing the deal also opens the door to years of negotiations over the rules governing supply chains and tariff levels. In an interview with Bloomberg, U.S. Trade Representative Jamieson Greer said the Trump administration is “not prepared to rubber stamp the agreement,” adding that there are substantial issues.
Qatar says U.S., Iran made progress in talks
The price of oil is down for a third straight day. Supply disruptions are easing after Qatar said the U.S. and Iran have made progress in talks over the Strait of Hormuz. It is estimated that oil supply through the Strait has now reached more than 10 million barrels a day. Negotiations are expected to continue next week. Iran warns, however, that any U.S. interference in the Strait will trigger a decisive and rapid response. It says the presence of U.S. air assets across the waterway is endangering regional security.
Bloomberg: Meta plans cloud business for AI computing power
Meta is planning a cloud infrastructure business for artificial intelligence (AI) computing power. Bloomberg is reporting the tech giant is developing a unit to sell access to AI computing power and models to outside customers. Meta is also considering selling access to raw computing capacity. The move is part of an internal initiative to build and manage the company’s AI infrastructure efforts, and aims to compete with industry leaders like Amazon, Microsoft, and Google.
FT: OpenAI in talks to give U.S. government 5% stake
OpenAI is in early talks to give the U.S. government a five per cent stake in the company. According to a report from the Financial Times, the move is part of a broader arrangement that could include other leading American AI developers, including Anthropic. Open AI’s CEO says giving a public stake in artificial intelligence companies is a way to share the economic benefits of the technology.
Apple in talks to buy chips from China, Bloomberg reports
Bloomberg is reporting that Apple is in negotiations to buy chips from two Chinese semiconductor makers on a pentagon blacklist. According to the report, the purchase would help alleviate the impact of a global memory shortage that has forced the tech giant to raise its prices. The memory chips would be used in products sold in China. The two companies have been flagged by the U.S. as supporting Beijing’s military.
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