Morning Business Report: New Canada tariffs take effect as eye drops recalled nationwide
New 50% U.S. tariffs on some popular goods imported from Canada took effect Saturday, potentially pushing up prices on a range of products.
(LILAMAX)- New 50% U.S. tariffs on some popular goods imported from Canada took effect Saturday, potentially pushing up prices on a range of products.
The tariffs apply to goods ranging from alcohol and construction materials to hockey equipment. U.S. electronics and auto parts are also expected to be impacted.
Meanwhile, nearly 40,000 bottles of Clear Eyes Maximum Itchy Eye Relief eye drops are being recalled nationwide because of concerns about potential contamination.
The recall was issued due to a “lack of assurance of sterility.” The product is sold at major retailers, including Walmart and CVS.
On Wall Street, gains in banking and health care stocks pushed the Dow Jones Industrial Average up 518 points Friday. Despite the rally, the stock market still finished lower for the week.
Treasury Secretary Scott Bessent is also expected to detail new U.S. sanctions against Iran Monday, which he says will be the toughest in history.
Families are also searching for ways to save as back-to-school costs rise. Families expect to spend an average of $922 on back-to-school purchases this year.
One option gaining attention is Whatnot, an app that allows shoppers to participate in live sales for used and original items. Fashion is the platform’s largest category by order volume, with children’s clothing among its most popular products.
A new survey also suggests increased news coverage of UFOs and unidentified anomalous phenomena, or UAPs, is influencing Americans’ beliefs about extraterrestrial life.
A Talker Research survey of 2,000 Americans found 37% say recent UFO or UAP coverage has made them believe more than they did previously. The impact was strongest among younger adults, with 54% of Gen Z respondents saying recent news coverage increased their belief.
