伊朗与阿曼讨论霍尔木兹海峡临时通航框架；美加贸易战升级

Bloomberg Audio Studios podcasts radio news.

Good morning. I'm Nathan Hager and I'm Alexis Christopherus. Here are the stories we're following today.

Alexis, we begin with the latest from the Middle East. Iran's foreign minister and his counterpart from Oman are discussing an interim framework to resume shipping through the Strait of Hormuz. That's after the US announced dozens of new sanctions on Iran's trading partners in an effort to put more pressure on the regime. We get more from Bloomberg Middle East correspondent Air Abu Omar in Dubai.

What we know is that this is a framework that is temporary in its nature and it's a mechanism to open the straight of Hermuz or reopen the movement in the straight of her in some fashion. Now the two countries are set to have further negotiations over the next 30 to 60 days to carry out a more permanent solution to the straight of Hermuz. But some things that stood out is first the fact that this is temporary. Second is that this is an initiative that will also discuss who manages the strait of Hermuz.

Bloomberg Zabir Abu Almar reports President Trump claimed yesterday that the US Navy had cleared all mines from the straight but he provided no evidence of that. Iran says it is focused solely on the hormuse talks with Oman and that they are independent of stalled negotiations with the US on ending the war.

And Nathan, the trade war between the US and Canada is heating up. A White House official says the Trump administration is discussing higher tariffs and other trade actions now that Canada has answered 50% tariffs from the US with dollar fordollar duties of its own. Bloomberg Global Trade Editor Brendan Murray has more. President Trump has already said uh that that they're that the come January 1st we're going to raise tariffs even further, but January 1st is a long time.

Uh and and you would think that President Trump, who you know has sort of a knee-jerk reaction in a lot of instances, would have would have done that sooner. And so I think that was a signal that uh he wants uh some sort of time to figure things out. Bloomberg's Brendan Murray reports. Canada's counter tariffs don't take effect until September 8th, though they will hit US exports from key battleground states like Michigan, Pennsylvania, and Ohio.

Ontario Premier Doug Ford was one of the first to remove American alcohol at the start of the trade war. Now, he's calling for compromise with President Trump.

He was throwing insults. He's not shy to throw insults to anyone. and uh I I hit back, but I I think it'd be more productive if we actually sit down and the prime minister and and the president sit down and have a fair deal for everyone because right now there's uh there's there's not certainty in either country. There's not stability.

Ontario Premier Doug Ford appeared on Bloomberg's balance of power. You can catch the full conversation on the video hub at bloomberg.com and the Bloomberg business app.

Well, now to election politics uh on this side of the northern border. Alexis Darlene Graham has won the Republican nomination to replace her late brother Lindseay in South Carolina's general election ballot for US Senate. At her victory party, Graham thanked President Trump.

I want to thank President Trump for all of his support and his endorsement. Mr. President Lindseay truly loved you and viewed you as one of his closest friends. I appreciate that bond and appreciate all that you've done for our country. And now, Darlene Graham defeated Congressman Ralph Norman in yesterday's special Republican primary runoff, 52 to 48%. She will now face Democratic nominee pediatrician Annie Andrews in November.

And a candidate with the same name as Alaska's incumbent senator, has advanced to the general election. Dan J. Sullivan, who goes by Dan Sullivan, was among the top four finishers after the August 18th primary and moved on to the November matchup, which is a ranked choice contest. The incumbent Republican Senator Dan Sullivan and Democratic former Representative Mary Pilola also have advanced

ahead of the November midterms Alexis. Congressional Democrats and civil liberties groups are taking new legal action against President Trump's mail-in voting restrictions. They allege the president's proposed rule exceeds the US Postal Services authority and creates impossible burdens for the midterms. The new filings come a day after the Supreme Court unblocked the federal ballot mail portal rule in a separate case.

The ruling does not guarantee that program will be in place for this year's election, but the proposed rules would require states to provide the federal government with voter lists and then use special barcoded envelopes for mailed federal ballots.

And now to a Bloomberg exclusive Meta Platforms and state attorneys generals have discussed settling their highprofile social media case. Bloomberg's John Tucker reports.

Meta is accused of deliberately designing Facebook and Instagram to addict teens. The case poses an enormous risk for the social media giant as 29 states are seeking financial penalties and mandatory changes to how the platform operates. Meta has denied the state's allegations and accused the attorneys general of seeking unreasonable design changes and an outlandish payout. A loss at trial, which is now in its second week, could result in penalties of as much as $1.4 trillion for Meta, while a settlement would likely amount to a far smaller sum.

I'm John Tucker, Bloomberg Radio.

John, thanks. Let's turn to the markets now. Futures are mixed ahead of highly anticipated earnings today from Nvidia. Bloomberg's Charlie Pellet has more on what to expect from the chip giant. Nvidia is expected to report another quarter of Blockbuster profit and sales with a growing role in orchestrating funding for AI projects. Investors also want to know whether AI demand can sustain the stock's valuation. Andrew Cry is co-CIO at Cresant Grove Adviserss.

I think there could be an element where, you know, we've seen so much pressure on the stock now over the last several days that it could be a little bit of a coiled spring post post earnings announcement.

The stock has now fallen for seven straight sessions. Also reporting with Nvidia will be Salesforce, Crowd Strike, and HP Inc. in New York. Charlie Pellet, Bloomberg Radio.

All right, thanks Charlie. And after investors digest earnings from Nvidia, they have another possible market moving event to look forward to, and that is Kevin Walsh giving a highly anticipated speech at Jackson Hole on Friday. Sarah House is senior economist at Wells Fargo.

Obviously, we all have to pay attention to this speech because at times it has been used to give some pretty important policy hints, but more often than not, it's used to address some of the the bigger questions out there. And while I think there there has been some push back about Chair Worsh's communication so far, he's a less is more guy when it comes to laying out his reaction function and we're still only 3 months in.

So I don't think he's going to abandon that strategy. Wells Fargo Sarah House join us this Friday for a special edition of Bloomberg Surveillance live from the Jackson Hole Economic Symposium. Tom Keane, Lisa Abramowitz, and Michael McKe speak with Fed experts on the path forward. It all starts Friday, 9:00 a.m. Wall Street time on Bloomberg Radio, Bloomberg Television, and the Bloomberg Business app.

Well, this morning, Alexis, the world is remembering and paying tribute to music and film star Dolly Parton.

Dolly Parton's career spanned decades with hits like this one, 9 to5, Jolene, I will always love you, so many more. Born in Tennessee, Dolly Parton rose from those humble beginnings to become a country music icon and philanthropist. Her Imagination Library has donated more than 200 million books to needy children. Back in 1982, Dolly Parton spoke with Barbara Walters about what