National Business

WASHINGTON (AP) — The U.S. budget deficit in July climbed 20% this fiscal year compared to the last despite the U.S. taking in record income from President Donald Trump’s tariffs, according to Treasury Department data released Tuesday . The U.S.

Martinrea International Inc. reported $38 million in profit during the second quarter, down from $40.97 million during the same quarter last year. The company reported diluted net earnings per share of 52 cents for the period.

WASHINGTON (AP) — U.S. inflation was unchanged in July as rising prices for some imported goods were balanced by falling gas and grocery prices, leaving overall prices modestly higher than a year ago. Consumer prices rose 2.

TORONTO — Canada's main stock index gained more than 140 points to finish trading Tuesday on strength in the real estate and financials sectors, while U.S. stock markets reached new highs amid better-than-expected U.S. inflation data.

Air Canada says it has reached an "impasse" in negotiations with the union representing its flight attendants, which on Tuesday said it declined a proposal from the airline to enter a binding arbitration process.

OTTAWA — When you peel back the many layers of tariffs and exemptions imposed by the United States, the effective tariff rate on Canada looks much lower than the headline figures suggest, some economists say.

MONTREAL — The Canadian Coast Guard says a 180-metre bulk carrier has run aground in the St. Lawrence River near Montreal. A spokesman for the coast guard says the Federal Yamaska ran aground near Verchères, Que., at around 5:45 a.m.

NEW YORK (AP) — The U.S. stock market rallied to more records after data suggested inflation across the country was a touch better last month than economists expected. The S&P 500 rose 1.1% Tuesday, beating its all-time high set two weeks ago.

WASHINGTON (AP) — Despite the U.S. taking in record income from President Donald Trump's tariffs in July — with a 273% increase in customs revenues (or $21 billion) from this time last year — the U.S.

Prime Minister Mark Carney is set to meet Monday with Ontario Premier Doug Ford, who says he plans to urge the prime minister to lower taxes in order to stimulate the economy.