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By JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

The Thursday letter to Canadian Prime Minister Mark Carney is an aggressive increase to the top 25% tariff rates that Trump first imposed in March after months of threats. Trump’s tariffs were allegedly in an effort to get Canada to crack down on fentanyl smuggling despite the relatively modest trafficking in the drug from that country. Trump has also expressed frustration with a trade deficit with Canada that largely reflects oil purchases by America.

“I must mention that the flow of Fentanyl is hardly the only challenge we have with Canada, which has many Tariff, and Non-Tariff, Policies and Trade Barriers,” Trump wrote in the letter.

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By MICHELLE CHAPMAN and WYATTE GRANTHAM-PHILIPS, AP Business Writers

Bitcoin has reached yet another all-time high, surpassing $118,000 for the first time on Friday — as a flood of money continues to move into spot bitcoin ETFs, all while U.S. President Donald Trump’s crypto-friendly influence makes its way through Washington.

According to data from CoinMarketCap, the going price for bitcoin climbed as high as $118,856 early Friday. It’s since fallen closer to $117,300 around 12:30 p.m. ET — but that’s still over $7,400 higher than what the world’s most popular cryptocurrency was trading at a month ago, and more than double its price this time last year.

Spot bitcoin ETFs opened up cryptocurrency investing more widely after launching last year — and analysts have pointed to record inflows recently. And a soft U.S. dollar and the digital currency friendliness of Trump’s administration also has helped to lift the price of bitcoin to unprecedented levels over the past few months. read more

By MATT O’BRIEN

A secretive competition to pioneer a new way of communicating with artificial intelligence chatbots is getting a messy public airing as OpenAI fights a trademark dispute over its stealth hardware collaboration with legendary iPhone designer Jony Ive.

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In the latest twist, tech startup iyO Inc., which already sued Ive and OpenAI CEO Sam Altman for trademark infringement, is now suing one of its own former employees for allegedly leaking a confidential drawing of iyO’s unreleased product.

At the heart of this bitter legal wrangling is a big idea: we shouldn’t need to stare at computer or phone screens or talk to a box like Amazon’s Alexa to interact with our future AI assistants in a natural way. And whoever comes up with this new AI interface could profit immensely from it. read more

By KELVIN CHAN

LONDON (AP) — TikTok is facing a fresh European Union privacy investigation into user data sent to China, regulators said Thursday.

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The Data Protection Commission opened the inquiry as a follow up to a previous investigation that ended earlier this year with a 530 million euro ($620 million) fine after it found the video sharing app put users at risk of spying by allowing remote access their data from China.

The Irish national watchdog serves as TikTok’s lead data privacy regulator in the 27-nation EU because the company’s European headquarters is based in Dublin. read more

NEW YORK (AP) — Ford is recalling more than 850,000 of its cars across the U.S. because the low-pressure fuel pump inside the vehicles may fail — and potentially cause an engine stall while driving, increasing crash risks.

The recall covers a wide range of Ford and Lincoln-branded vehicles made in recent model years. That includes certain Ford Broncos, Explorers and F-150s, as well as Lincoln Aviators and Navigators, documents published this week by the National Highway Traffic Safety Administration note.

Ford plans to send out notification letters to affected owners starting this Monday (July 14), to warn of safety risks related to potential fuel pump failure. But a remedy is still “under development,” the NHTSA’s recall report notes.

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