Flock Cameras Are Spreading Across America. So Is the Backlash.

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Pierre Bienaimé (0:34)

Canada unveils new retaliatory tariffs on US seafood, steel, and other products. Plus, flock cameras are spreading across the US., and so is the backlash.

Kris Maher (0:44)

Something that's so interesting about the opposition to the technology and the company is that it does span the political spectrum.

Pierre Bienaimé (0:51)

And Dolly Parton has died at age 80

It's Tuesday, August 25th. I'm Pierre Bienaimé for the Wall Street Journal, filling in for Alex Osala. This is the PM Edition of What's News, the top headlines and business stories that moved the world today.

In the latest development in the escalating trade dispute between Canada and the US., Canada says it will put a retaliatory tariff of up to 50% on US products. Those include steel, aluminum, motorcycles, chainsaws and processed cheese. The tariffs affect about 7% of what Canada imports from the US. WSJ reporter Paul Vieira talked to us from Ottawa. He says the tariffs are an attempt to exert political pressure on American politicians ahead of the midterms.

Paul Vieira (1:38)

For example, Canadian officials have targeted roughly 200 seafood products for tariffs. Why is that important? Because Maine could be a source of a lot of these seafood products.

And it so happens that Republican senator Susan Collins faces re-election in the midterms. That Maine race could tip the balance on who controls the Senate. Canadian officials also said that the duties they are set to impose are designed to protect domestic market share for firms directly impacted by President Trump's 50% levy.

Pierre Bienaimé (2:10)

The new Canadian tariffs apply to about $20 billion worth of goods. And they don't take immediate effect.

Paul Vieira (2:17)

Canada is not going to impose these retaliatory tariffs until September 8th, the Tuesday after Labor Day. So in theory, there could be the possibility of a restart of talks between the two sides.

But based on a lot of the rhetoric we're hearing, it just appears that the sides are too far apart and both sides would have to put some proverbial water in their wine to come to the possibility of an agreement.

Pierre Bienaimé (2:42)

Meanwhile, President Trump is threatening to rename Lake Ontario to Lake America.

In a social media post, Trump says he's considering the change because the US doesn't expect to be, quote, doing much business with Ontario anymore. Canada's industry minister, Melanie Jolie, had a response to that. We'll always call it Lake Ontario.

Melanie Jolie (3:02)

Lake, period.

Pierre Bienaimé (3:04)

CIA Director John Radcliffe made a surprise visit to Moscow today. It was his first publicly known trip to the Russian capital. He spent about four hours there before leaving. The reason for the visit wasn't immediately clear. The CIA declined to comment.

And in health news, the US has reported its first measles deaths of the year. Pennsylvania officials said today that two people died in the state after they got measles. They weren't vaccinated. The US declared measles eliminated more than 25 years ago. But in recent years, cases have surged as vaccination rates fell. Thousands of people have gotten sick.

The Journal has learned that securities regulators are investigating the trading of situational awareness. The AI-focused hedge fund suffered billions of dollars in losses last month before selling the bulk of its portfolio.

The SEC has sought information from banks that provided financing to the fund. A spokesman for situational awareness says the company will cooperate with any regulatory request. In earnings news today, Dick's sporting goods shares sank more than 30 percent. The sports retailer warned of lower profits for the year, saying consumers weren't spending on footwear. That comes after a $2.4 billion deal for Footlocker about a year ago. A Morgan Stanley analyst had a pointed question for Dick's management during the company's earnings call today.

Simeon (4:26)

I guess the first question simply is what's changed since we were sitting here 90 days ago, and you were raising guidance and speaking very optimistically about both Dick's and Footlocker.

Ed Stack (4:40)

Thanks for the call, Simeon, and thanks for being so direct. First of all, we continue to be very excited about our business, and I think everybody should know that.

Pierre Bienaimé (4:50)

That was Dick's executive chairman, Ed Stack. He then said the sneaker market is full of inventory and rivals are slapping on discounts. That's pressured Footlocker to do the same. US stocks edged higher today. The three major indexes all climbed by less than 1%.