Trump downplays chance of trade deal, Algoma Steel seeks tariff relief and TD Bank requires four days in office: Business and investing stories for the week of July 27

Getting caught up on a week that got away? Here’s your weekly digest of The Globe’s most essential business and investing stories, with insights and analysis from the pros, stock tips, portfolio strategies and more.

Trump says trade deal with Canada may not be reached

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U.S. President Donald Trump said he may not reach a new trade deal with Canada by the self-imposed deadline of Aug. 1. He also suggested his administration might instead impose more tariffs on the country unilaterally. “We haven’t really had a lot of luck with Canada. I think Canada could be one where there’s just a tariff, not really a negotiation,” Mr. Trump told reporters Friday as he left the White House for a trip to Scotland. It echoes similar signals from Prime Minister Mark Carney in recent weeks, who has said chances are low for a tariff-free trade deal and Canada “will not accept a bad deal” just to meet the deadline.

The two countries already have a trade deal, the U.S.-Mexico-Canada Agreement. But, as Adrian Morrow reports, Mr. Trump wants to supersede key parts of that pact with new provisions that would cut back on American imports of autos, steel, aluminum and other goods from Canada.

Algoma Steel seeks up to $600-million from Ottawa in emergency trade war relief

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Algoma Steel Group Inc. ASTL-T is in talks with the federal government in hopes of securing between $400-million and $600-million in loans as it faces 50 per cent tariffs on Canadian steel exports to the United States. The company, which is based in Sault Ste. Marie, Ont., has outsized exposure to the tariffs and its single Ontario plant relies heavily on the U.S. market. Before the trade war began, Algoma sold roughly 60 per cent of its output to the U.S. Algoma is Canada’s last remaining independent primary steel maker. The other two steel makers that have sizable operations in Canada, ArcelorMittal Dofasco and Stelco, are both owned by foreign giants.

The package could also eventually see Ottawa purchase an equity stake in Algoma, Niall McGee reports. But Barry Zekelman, one of Algoma’s biggest shareholders, said in an interview that the Canadian government is behaving like “a loan shark.”

Decoder: Companies are passing rising tariff costs on to U.S. consumers

Economists have repeatedly warned that Mr. Trump’s push for tariffs will likely risk increasing inflation – and now there’s mounting evidence that tariffs are biting American consumers. Official inflation data released last week for June showed U.S. inflation climbed at an annual rate of 2.7 per cent. Plus, an innovative tool from Harvard Business School tracking the cost of thousands of goods by their country of origin shows how the steep tariffs on imports from China in particular are driving prices higher. Jason Kirby takes a closer look at the numbers in this week’s Decoder series.

TD Bank tells staff to work from the office four days a week as of November

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Toronto-Dominion Bank joins the list of Canada’s biggest banks requiring staff to work from the office four days a week. Earlier this week, TD notified staff they will work from corporate towers on a more full-time basis as of Nov. 3. Meanwhile, executives will be required to be in the office four days a week as of Oct. 6. The bank said that many of its locations will be prepared to accommodate the new rule by November, but it will need to take some time to ensure others are ready, Stefanie Marotta reports.

Rogers to require staff work in office five days a week

In recent months, Royal Bank of Canada, Bank of Montreal and Bank of Nova Scotia informed staff of the four-day return-to-work mandate effective Sept. 15. But many bank employees are scrambling to access desks and face challenges with limited space in corporate towers in downtown Toronto, even before the four-day requirements take effect. Some employees even told The Globe and Mail that they are arriving at the office before 7 a.m. to secure a desk.

Airlines are using AI to set ticket prices. Here’s how you can avoid price manipulation when booking flights

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Delta Air Lines Inc. DAL-N has drawn the ire of some U.S. lawmakers over concerns that airfares could increase after airline president Glen Hauenstein said in an earnings call that about 3 per cent of Delta’s domestic ticket prices are set using artificial intelligence.

While Canadian consumers have slightly more protections than Americans regarding the personal data that companies can gather and how it’s used, regulations and enforcement are often a few steps behind when it comes to AI and its rapid advancements. In Canada, carriers such as Porter Airlines acknowledge that they rely on dynamic pricing and that AI is part of some business processes, but it isn’t used for personalized pricing for passengers. Mariya Postelnyak outlines several ways consumers can protect themselves and avoid price manipulation when booking flights.

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