Carney Expects Trump Call as Trade War Tensions Rise Again

Canada's Prime Minister Mark Carney has expressed his expectation to speak to US President Donald Trump before the August 19th deadline for imposing 50% tariffs on $20 billion in Canadian exports. This announcement comes as Canada reported hotter-than-expected Consumer Price Index (CPI) numbers, which may escalate tensions between the two nations.

Meanwhile, Iran has signaled a shift in its policy towards the US, moving from a defensive stance to a 'fully offensive' one. A senior Iranian official told Reuters that pressuring the US or relying on mediators to reach a lasting peace is not realistic. The official also set a deadline of a few weeks for the full implementation of an agreement by the US.

Additionally, Iran has threatened to escalate tensions in the Hormuz Strait and the region if diplomacy fails. The country will not wait indefinitely for the US to continue its naval blockade, according to the senior Iranian official.