Final Thoughts
August 22, 2025
Written by Greg Wittbecker
On Thursday, the U.S. and EU agreed to more concrete terms to their handshake deal of last month.
The key provision of the deal is a blanket import tariff of 15% on most goods ex the EU. This rate applies to pharmaceuticals, one of the EU’s biggest exports to the U.S. and one that was considered very much in harms way. Lumber and semiconductors are also taxed at 15%.
The shipment was part of an offtake agreement between private investment group Heeney Capital, Mercuria Energy Group and the Venezuelan government.
Stellantis’ Etobicoke Casting Plant faces uncertain production commitments and potential operational disruption as Unifor prepares strike authorization votes.
Commercial vehicle orders have surged in 2026, but policy-driven timing may be making the market look stronger than current production and supplier sales.
The Midwest premium could slip if Canada reroutes primary back to the US. But the balance in supply would still be coming from other countries, likely the Persian Gulf.
Canada and the EU. Russian sanctions. China talks.
