Market Beats | Trump Threatens 35% Tariff on Canadian Goods, Eyes Global Hikes; Zara Founder Ortega Buys Paris Luxury Hotel; Bain Capital Weighs Exit From Canada Goose Stake

—— Trump Threatens 35% Tariff on Canadian Goods, Eyes Global Hikes; Zara Founder Ortega Buys Paris Luxury Hotel; Bain Capital Weighs Exit From Canada Goose Stake

1. Trump Threatens 35% Tariff on Canadian Goods, Eyes Global Hikes

President Donald Trump threatened to impose a 35% tariff on select Canadian imports and floated a broader increase in duties on most US trading partners, escalating his protectionist trade agenda in remarks that rattled markets and strengthened the US dollar.

The higher Canadian tariff would take effect August 1, increasing from the current 25% rate on goods not covered under the US-Mexico-Canada Agreement (USMCA).

“Fentanyl is hardly the only challenge we have with Canada,” Trump wrote in a letter to Canadian Prime Minister Mark Carney, shared on social media. “There are many tariff and non-tariff barriers that result in unsustainable trade deficits with the United States.”

In a separate interview with NBC News, Trump said he is also considering blanket tariffs of 15% to 20% on most global trading partners. Currently, the average baseline tariff rate is 10%.

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2. Meta Offers $200 Million+ to Former Apple AI Engineer

Meta Platforms Inc. is offering some of the richest compensation packages in corporate history to attract elite talent to its new “superintelligence” team, including more than $200 million for former Apple AI model chief Ruoming Pang.

According to people familiar with the matter, Pang’s multi-year compensation package, tied largely to performance milestones and stock vesting, was unmatched by Apple, which rarely offers such figures outside CEO Tim Cook’s pay.

The offer reflects Meta’s aggressive strategy to dominate next-generation AI. Its superintelligence unit, focused on building AI systems that rival or surpass human capabilities, includes Nat Friedman (ex-GitHub CEO), Daniel Gross (AI founder), and Alexandr Wang, who joined as Meta’s chief AI officer after the company took a 49% stake in Scale AI valued at $14.3 billion.

Though Meta declined to comment, the compensation levels are among the highest in corporate roles globally, though heavily contingent on long-term performance and retention.

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3. Zara Founder Ortega Buys Paris Luxury Hotel

Fashion mogul Amancio Ortega has purchased the five-star Hotel Banke in central Paris for €97 million ($113 million), marking his second property acquisition in the city within a year.

Ortega’s family office, Pontegadea, confirmed the deal with seller Derby Hotels. The property is located near the historic Palais Garnier opera house.

Pontegadea, which holds Ortega’s 59% stake in Inditex SA (parent of Zara), uses dividend income to invest in global real estate and infrastructure. So far this year, Ortega has also bought an apartment building in Fort Lauderdale for €165 million and an office tower in Barcelona for €250 million.

At age 89, Ortega is set to receive over €3 billion in dividends from Inditex this year — his largest payout to date.

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4. Goldman Sachs to Require Junior Bankers to Confirm Loyalty Quarterly

Goldman Sachs Group Inc. plans to ask new analysts to certify every three months that they haven’t accepted jobs elsewhere, in a move aimed at curbing aggressive poaching by private equity firms.

The initiative, not publicly announced, is designed to combat “on-cycle recruitment,” a practice where buyout firms approach junior bankers at the very beginning — or even before the start — of their analyst programs, according to people familiar with the matter.

The move follows JPMorgan Chase & Co.’s warning to incoming grads that accepting outside offers within their first 18 months would lead to termination.

Similarly, Apollo Global Management said it would not interview or extend offers to the class of 2027, with CEO Marc Rowan criticizing early recruitment as premature for students still exploring their options.

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5. Bain Capital Weighs Exit From Canada Goose Stake

Bain Capital is exploring a potential sale of part or all of its stake in Canada Goose Holdings Inc., the luxury parka maker, according to people familiar with the matter.

The private equity firm is working with advisers to evaluate a possible exit and has been sounding out interest from other investment firms, the sources said. Shares of Canada Goose jumped as much as 4.9% Thursday morning on the news, reaching their highest intraday level in over a year. The company is currently valued at about $1.3 billion.

Bain acquired its controlling stake in 2013 and took the company public in 2017. As of the end of March, Bain held 60.5% of Canada Goose’s multiple voting shares — an unlisted class that carries 10 times the voting rights of regular shares — giving it 55.5% of total voting power.

Founded in 1957 in a Toronto warehouse, Canada Goose has evolved into a global luxury outerwear brand known for its high-performance parkas.

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6. Nvidia Hits $4 Trillion Market Value, First in History

Nvidia Corp. has become the first company ever to reach a $4 trillion market valuation, solidifying its dominance in the global financial arena.

Shares rose 2.8% to $164.42 on Wednesday, pushing the company over the milestone in a dramatic rebound from earlier-year jitters sparked by China’s DeepSeek and President Donald Trump’s trade war.

The stock is up more than 20% in 2025 and has soared over 1,000% since the start of 2023. Nvidia now represents 7.5% of the S&P 500 Index, approaching its highest-ever weight.

The latest rally is fueled by continued AI spending commitments from Nvidia’s biggest customers, including Microsoft, Meta, Amazon, and Alphabet.

Those four tech giants are projected to invest about $350 billion in capital expenditures in their next fiscal year, up from $310 billion, according to Bloomberg analyst estimates. Collectively, they generate more than 40% of Nvidia’s total revenue.

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7. Mercedes-Benz Q2 Sales Drop 9% as Tariffs Hit US and China Demand

Mercedes-Benz reported a 9% drop in global car sales for the second quarter of 2025, totaling 453,700 vehicles, as trade tensions and tariffs driven by President Donald Trump’s policies weighed on key markets. Sales declined 12% in the US and 19% in China, where import duties on American-made SUVs further dampened demand.

Although the numbers slightly exceeded company guidance and improved modestly over Q1, analysts say they underscore the growing toll of tariffs. Mercedes produces large SUV models like the GLE and GLS in Alabama and exports them to China — now subject to a 10% retaliatory tariff by Beijing.

The company also continues to struggle in the EV market, with EV sales down 24% year-on-year. Competition from local Chinese manufacturers like BYD is squeezing foreign brands.

However, Mercedes noted encouraging early interest in its upcoming CLA electric sedan, based on a new EV-first platform focused on maximizing range.

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