U.S.-Canada trade relations have worsened as President Donald Trump declared that Canadian aerospace company Bombardier must manufacture its products within the United States to continue selling there. Trump criticized Canada for allegedly exploiting the American market and emphasized that Bombardier will no longer be allowed to sell in the U.S. unless it establishes local production. This stance highlights the ongoing trade tensions between the two neighboring countries, with Washington enforcing a more protectionist approach.

In parallel, the European Union announced a strategic move to strengthen its relationship with Greenland by allocating a 200-million-euro ($232.3 million) funding package. This investment aims to enhance Greenland’s infrastructure in connectivity, clean energy, and critical minerals development. The EU’s increased engagement follows intensified interest from the Trump administration, which has pushed controversial annexation efforts of the self-governing Danish territory, making Greenland a highly contested zone in trans-Atlantic geopolitics.

Heightened unrest in the Middle East has also impacted global energy markets, as oil prices surged to their highest level in six weeks. The price uptick came amid escalating tensions between the U.S. and Iran, who exchanged military strikes over the weekend. Market volatility remained pronounced as investors monitored developments closely, leading to broadly lower U.S. futures and mixed performance across Asian stock exchanges.

In other news, German rocket company Isar Aerospace achieved a significant milestone by successfully reaching orbit and plans to ramp up its commercial launch cadence to meet booming demand. The company’s commercial pipeline is valued at over 10 billion euros, positioning it as a prominent rival to SpaceX in the European space industry. Meanwhile, gasoline prices in the U.S. hit a record $4.15 per gallon on Labor Day, driven by late-summer demand, making this the most expensive holiday driving season on record according to AAA.