With Congress still out and the week of Aug. 24 likely light on policy developments, the Bloomberg Intelligence's Aug. 24 Washington Policy Pulse call focused the US 50% additional tariff on roughly $20 billion of Canadian imports that took effect on Aug. 22 as well as Trump's Aug. 24 remarks that forthcoming tariffs were coming for the Canadian automotive industry. Canadian Prime Minster Mark Carney has vowed to respond with dollar-for-dollar retaliatory tariffs beginning Sept. 8, which could influence Senate races in Ohio, Maine and Alaska.

Finally, we reviewed a White House meeting last week with executives from Coinbase, Intercontinental Exchange and Nasdaq and how it didn't do much to move the crypto bill known as the CLARTY Act forward. We continue to ascertain a 40% chance of passage in 2026.

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