US-Iran Strikes Extend to 10th Day; Trump Vows 50% Tariff on Canadian Goods

US-Iran Strikes Extend to 10th Day; Trump Vows 50% Tariff on Canadian Goods

From Bloomberg Daybreak: US Edition by Bloomberg

July 21, 2026 · 15 min

About this episode

The episode discusses the ongoing US-Iran strikes, new tariffs on Canadian goods, and Trump's conversation with UK Prime Minister Andy Burnham.

Today's top stories, with context, in just 15 minutes. On today's podcast: 1) The US and Iran exchanged strikes for a 10th consecutive day as mediators sought to revive a truce, with the US targeting military command centers and Iran attacking US military sites in Kuwait and Jordan. The Houthi militant group in Yemen threatened shipping in the Red Sea, and the Saudi-led coalition said it is taking steps to protect ships sailing in the area. Oil prices have surged and US retail gasoline prices have climbed back over $4 a gallon, potentially hurting Trump and his Republican Party before midterm elections. 2) The Trump administration vowed to impose a fresh 50% tariff on some Canadian goods over what it said was unfair treatment of American alcohol, cars and dairy. The items subject to the new tariff include milk, hockey equipment, beer and plywood — but not major resource imports such as energy, potash and critical minerals. The tariffs are being applied under Section 338 of the 1930 Tariff Act, which gives the president the power to impose duties of as much as 50% on countries deemed to discriminate against US commerce. 3) President Trump said he had a “very good…

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Keywords

Mentioned in this episode

Organizations: Houthi, Saudi-led coalition

Products: milk, hockey equipment, beer, plywood

Places: Iran, US, Canada, Kuwait, Jordan, Red Sea

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