Trump Threatens Canada with Tariffs Over Wildfires; Moonshot Roils Markets

Washington’s air improved slightly on Friday while New York City could be blanketed by more wildfire smoke later in the day. President Donald Trump alleged Canada is “responsible for the fact that they are not properly maintaining their Forests” and threatened to increase tariffs on Canada in response to the trans-border smoke.

Also this weekend, Moonshot AI released Kimi K3, a model that outperforms all rivals except for Anthropic’s Claude Fable 5 and OpenAI’s GPT-5.6 on overall capability. The release of Kimi K3 has stunned some AI watchers and investors, fueling concerns about whether the immense spending commitments from Silicon Valley will pay off and shaken confidence in the US lead.

On today’s show, Bloomberg This Weekend hosts David Gura and Christina Ruffini speak with:

- Josh Wingrove, Bloomberg News Senior White House Correspondent, on Trump's threats to Canada over the wildfires and the latest on the Gordie Howe Bridge.

- Mike Shepard, Bloomberg News Senior Editor, Technology & Strategic Industries and Minmin Low, Bloomberg News China Correspondent, on tech stocks ending the week lower over concerns that the US may be losing ground in the AI race.

- US Trade Representative Jamieson Greer at the Aspen Security Forum, on the 84 cosponsors of a Russia sanctions bill to honor the late Senator Lindsey Graham.

- Jonathan Wilson, Sports Journalist & Author of “The Power and the Glory: A New History of the World Cup,” on FIFA President Gianni Infantino drawing scrutiny for his relationship with President Trump.

Plus, Christina, David, and Alexis Christoforous discuss the stories you might have missed this week on BTW.

For more conversations like this, watch and listen to Bloomberg This Weekend live on Saturdays and Sundays from 7AM-10AM ET. Watch on Bloomberg Television, listen on Bloomberg Radio and stream the show live on the Bloomberg Business app and Bloomberg.com/video.

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