Trump terminates Canada trade talks after they post "deceptively edited" video of Reagan trashing tariffs

"Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED."

Hello Capitalists,

Here is everything you should be following today:

• Trump swings the hammer after Canada posts edited video

• “Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs.”

• Inflation sinks down again ahead of Fed meeting next week

• Apple starts shipping its Texas made servers

• Open AI rival just signed a billion dollar deal with Google

• Chipmaker stock plunges as it warns of delays

• Michigan yanks funding for Chinese EV Battery plant

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• ✅ DOW: 47241.82 (⬆️ 1.09%)

• ✅ S&P: 6802.12 (⬆️ 0.95%)

• ✅ NASDAQ: 23237.46 (⬆️ 1.29%)

• ⚠️🔴CBOE VIX Volatility Index: 16.53 (⬇️ 4.45%)

• ✅ Gold: $4,148.7 (⬆️ 0.08%)

• ✅ Silver: $48.715 (⬇️ 0.18%)

• 🔴 Bitcoin: $110361 (⬇️ 0.16%)

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Canada fooled around with Reagan, Trump made them find out the hard way

President Donald Trump abruptly terminated all U.S.-Canada trade negotiations Thursday, blasting a $75 million Ontario government ad that fraudulently edited Ronald Reagan’s words to oppose tariffs as “egregious” interference in American court decisions.

• Ad Misrepresents Reagan Legacy: Ontario’s campaign selectively edited Reagan’s 1987 radio address on free trade without permission, prompting the Reagan Foundation to denounce it as unauthorized and launch a legal review.

• Trump Cites Tariff Cheating: In a Friday follow-up, Trump accused Canada of long exploiting U.S. farmers with up to 400% tariffs, vowing to end such advantages through his protectionist stance.

• Trump’s Statement: “The Ronald Reagan Foundation has just announced that Canada has fraudulently used an advertisement, which is FAKE, featuring Ronald Reagan speaking negatively about Tariffs. The ad was for $75,000. They only did this to interfere with the decision of the U.S. Supreme Court, and other courts. TARIFFS ARE VERY IMPORTANT TO THE NATIONAL SECURITY, AND ECONOMY, OF THE U.S.A. Based on their egregious behavior, ALL TRADE NEGOTIATIONS WITH CANADA ARE HEREBY TERMINATED. Thank you for your attention to this matter! President DJT“

  

• Campaign Costs Escalate Tensions: The $75 million ad effort, aimed at influencing U.S. policy, drew Trump’s ire for targeting Supreme Court rulings on trade, framing it as deliberate sabotage.

• Broader Security Implications: Trump defended tariffs as vital for national security and economic strength, signaling potential ripple effects on North American alliances amid rising protectionism.

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Inflation sinks further as Trump’s policies kick in, fueling Fed rate cut hopes

U.S. consumer prices rose a milder-than-expected 0.3% in September, pushing the annual inflation rate to 3%, as softer shelter and energy costs fueled hopes for a Federal Reserve rate cut next week amid a government shutdown delaying other data.

• Core Rate Stays Steady: Core CPI, stripping out food and energy, climbed just 0.2% monthly and held at 3% annually, missing forecasts and signaling muted underlying pressures unchanged from August.

• Shelter Surge Moderates: Housing costs, the largest CPI driver, eased to 0.2% monthly and 3.6% yearly gains, tempering overall inflation despite comprising one-third of the index.

• Food Energy Mixed Bag: Food prices ticked up 0.2% monthly with meat and beverages surging over 5% annually, while energy rose 2.8% yearly led by electricity and natural gas spikes offsetting falling gasoline.

• Fed Cuts Gain Momentum: Tame data amid softening jobs bolsters the case for a 0.25-point interest rate reduction to 4%-4.25% range.

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Apple just shipped its first “Made In America” servers

Apple has begun shipping cutting-edge AI servers from a newly operational American factory, accelerating its $600 billion U.S. manufacturing push amid calls for domestic tech production, with expansion set to create thousands of jobs next year.

• Houston Factory Accelerates Online: Apple’s Texas facility, revealed in February, went live ahead of schedule to assemble AI servers using proprietary silicon for Intelligence and Private Cloud Compute services.

• Domestic Shift Reshapes Supply Chain: Moving from overseas production, the initiative leverages U.S. suppliers for full chip fabrication and packaging, bolstering resilience in semiconductors.

• Massive Investment Fuels Growth: Part of a $600 billion commitment, the project includes partnerships like a Michigan State manufacturing academy to train workers and expand AI infrastructure.

• Strategic Ties Boost Ambitions: CEO Tim Cook emphasizes “stitching” global chains with U.S. expertise, as recent Trump talks spur further spending on American semiconductor firms.

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OpenAI rival Anthropic teams with Google to buy a million machine learning chips

Anthropic, the AI startup challenging OpenAI, announced Thursday a multibillion-dollar partnership with Google Cloud, securing access to up to 1 million custom TPUs (Tensor Processing Units used to train AI) to fuel its explosive growth amid surging demand for its Claude models.

• Expands multi-cloud infrastructure: Anthropic seeks to optimize workloads across Google TPUs, Amazon Trainium chips, and Nvidia GPUs, enhancing efficiency and resilience after the recent AWS outages.

• Boosts compute capacity massively: The deal will deliver over a gigawatt of computing capacity by 2026 , likely enhancing Anthropic’s $7 billion revenue surge and 300,000+ business users.

• Highlights Claude’s rapid revenue surge: Claude’s new coding assistant has generated a $500 million annualized return in just two months. Anthropic claims that this makes it history’s fastest-growing product ever.

• Reinforces strategic diversification: By working with multiple vendors this deal allows Anthropic to control models, pricing, and data while leveraging partners’ strengths for sustainable AI scaling in enterprise markets.

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AI Chipmaker cuts its revenue forecast blaming delays, stock plunges 9%

Super Micro Computer’s shares plunged nearly 9% Thursday after slashing its fiscal first-quarter revenue forecast to $5 billion from $6-7 billion, blaming project delays that shifted sales to the next quarter—despite holding steady on a $33 billion full-year goal.

• Revenue Forecast Slashed Dramatically: Company cited design wins causing delays, pushing Q1 sales below analyst expectations just weeks before earnings release.

  

• Yearly Outlook Remains Bullish: SMCI’s full fiscal year revenue target remains intact at minimum $33 billion, underscoring their confidence in AI-driven growth trajectory.

• Stock Volatility Persists Wildly: SMCI shares are up nearly 60% in 2025 overall, but recent miss echoes August’s profit shortfall amid sky-high investor hopes.

• AI Partnerships Fuel Resilience: Ties to Nvidia and AMD position Supermicro as a key AI infrastructure player, mitigating quarterly hiccups with long-term boom potential.

• Not Everyone Is Convinced: Some analysts however have raised concerns that this is a prelude to a change to end of year revenue numbers.

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Chinese backed EV battery plant gets terminated in Michigan

In a stunning reversal amid fierce local backlash and U.S.-China tensions, Michigan terminated a $2.36 billion Chinese-backed EV battery factory near Big Rapids on Oct. 17, demanding repayment of $50 million in incentives after Gotion Inc. abandoned the site plagued by lawsuits and inactivity.

• Gotion Faces Default Scrutiny: State declared Gotion in breach for 120+ days of no site activity and two lawsuits creating “material adverse effect,” triggering a Sept. 17 notice with a 30-day cure period that expired unresolved.

• Incentives Total Hits $175M: Officials withheld $125 million amid stalled progress, while $26.4 million unspent reverts to state coffers, underscoring accountability for taxpayer funds in Whitmer’s 2022-backed initiative.

• Local Uprising Recalls Officials: Green Township residents ousted five pro-project leaders in a 2023 recall over environmental fears, fueling years of opposition that doomed the 2,000-job factory vision.

• Tariffs Amplify Industry Woes: The collapse exacerbates Michigan’s auto sector struggles from recent U.S. tariffs on Canada and China, hindering EV manufacturing push despite initial Ford partnership ties.

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