Trade talks between the US and Canada broke down, adding new tariffs on top of already high gas prices and mortgage rates — bad news for American consumers, truckers, and anyone hoping for cheaper goods.

• Washington slapped 50% tariffs on some Canadian goods after last-minute talks failed, and Canada's Mark Carney suspended negotiations while promising dollar-for-dollar retaliation.
• No further talks are scheduled, mirroring the stalled standoff with Iran, where Tehran is now pitching a regional security arrangement that cuts the US out.
• Gas is above $4 and diesel near $5, with Brent crude in the mid-$90s and climbing since the strikes on Iran — squeezing truckers, some of whom are giving up and selling their rigs.
• The wider backdrop is a $40 trillion national debt, mortgage rates near 7%, and growth leaning heavily on AI spending and borrowing.
• Meanwhile, 20,000 people in Gary and northwest Indiana have gone more than 10 days without power after deadly storms, with no federal emergency response in sight.

Outlook: Retaliatory Canadian tariffs and oil pushing toward $100 point to higher prices for Americans in the coming weeks.