The World in Brief from The Economist

Pakistan’s army chief, Asim Munir, will visit Tehran on Monday as his country continues to try to mediate an end to the war in Iran; Mark Carney, Canada’s prime minister, said his country would retaliate “dollar for dollar” against America’s new 50% tariffs, with its own levies taking effect on September 8th.

Mark Carney, Canada’s prime minister, said his country would retaliate “dollar for dollar” against America’s new 50% tariffs, with its own levies taking effect on September 8th; Vladimir Putin threatened to hit Ukraine’s “most sensitive economic sectors” after it attacked a warehouse run by Ozon, Russia’s second-largest online marketplace, and reportedly targeted a nearby oil refinery

Iran accused America of violating other countries’ sovereignty with new sanctions due to be announced on Monday

Iran accused America of violating other countries’ sovereignty with new sanctions due to be announced on Monday

America imposed a 50% tariff on some Canadian goods entering the country after the two countries failed to reach a deal; Masoud Pezeshkian, Iran’s president, said that now would be a good time to end the war with America, while his country was in a “position of power and dignity”

America’s Supreme Court allowed the construction of Mr Trump’s $400m White House ballroom project to continue, for now

Iran threatened “devastating responses” to any miscalculation by its “enemies”, after Donald Trump promised the strongest-ever sanctions against the Islamic Republic; Yields on American 30-year Treasuries rose, despite an attempt this week by Scott Bessent, the treasury secretary, to hold them down by buying the bonds.

China warned that America’s threat of “economic warfare” against Iran and its trading partners would not work. Also, yields on 30-year Treasuries rose, reversing some of the decline that followed the US treasury secretary’s long-term debt buyback on Wednesday.

Yields on American 30-year Treasuries climbed on Thursday.