Varcoe: Trump wants Keystone XL revived, Canada wants lower tariffs – while a trade deal looms

President Donald Trump has temporarily halted his 50% tariffs on Canadian imports, working towards a final trade deal with Canada. Canada's trade minister and US Trade Representative Jamie Jamieson Greer are holding talks in Washington to finalize the agreement. The tariffs, initially set to take effect last night, were paused just before the deadline.

Trump emphasized the fairness of the deal, stating it benefits farmers and manufacturers alike. Canada's Prime Minister Mark Carney expressed satisfaction with the negotiations, reporting progress towards an agreement. Separately, the Israeli military has launched criminal investigations into the deaths of five-year-old Hind Rajab and her family, as well as 15 Palestinian medical workers, both under Israeli gunfire in Gaza.

Palestinian officials claim at least 10 people were killed in recent attacks, with Israel stating it was targeting Hamas leaders. The U.A.E. has announced it will cease trade with Iran following accusations that Tehran launched missiles toward its territory. Iran denies the allegations. Meanwhile, Ukraine's President Zelenskyy dismissed a senior advisor in a corruption probe, amid a growing political crisis.

Russia's President Putin downplayed the impact of recent strikes, asserting they cause "no critical consequences," though they inflict harm. NASA has dropped plans to rescue its ailing Swift space telescope, opting to let it burn up upon re-entry later this year. Pharmaceutical firms Moderna and Merck reported promising results from their experimental cancer treatment, involving an mRNA vaccine tailored to individual patients and paired with the immunotherapy Keytruda.

Moderna's stock surged nearly 177% following the positive news, while stocks broadly rebounded after the Treasury Department eased pressure on the bond market.