U.S. President Donald Trump speaks during the signing of an executive order in the Oval Office of the White House on September 4, 2026 in Washington, DC.
Andrew Harnik | Getty Images News | Getty Images
Hello, my name is Justina Lee from Singapore. Welcome to another edition of CNBC’s Daily Open.
Trade relations between the U.S. and Canada remain tense, with U.S. President Donald Trump saying on Monday that Canadian aircraft maker Bombardier must manufacture products locally to continue selling to the U.S. market.
Meanwhile, the European Union is strengthening ties with Greenland with a new boost of €200 million in funding as President Trump seeks to annex the autonomous Danish territory.
What you need to know today
The hostile trade war between Washington and Ottawa continues to simmer after President Trump said Canada’s Bombardier must manufacture in the United States to maintain access to the U.S. market.
“Bombardiers are no longer selling in the US!” Trump wrote on Truth Social. “If they want our market, they have to build here and stop treating America like a ‘piggy bank.'”
Relations between the United States and its traditional allies in Europe are also not very good.
As President Trump continues to fixate on the Arctic, the EU aims to strengthen ties between the Arctic and Greenland, which became a major transatlantic issue at the beginning of the year.
European Commission President Ursula von der Leyen announced a new funding boost for Greenland with a €200 million ($232.3 million) funding package focused on connectivity, clean energy and critical raw materials.
Speaking of energy, oil prices extended their gains on Tuesday after rising to a six-week high the previous day, as tensions in the Middle East continued to rise following a trade strike between the US and Iran over the weekend.
In the market, U.S. futures fell across the board as investors continued to monitor developments in the Middle East. Asian stock markets were mixed on Tuesday.
Isar Aerospace, the German rocket maker and SpaceX rival, is aiming to increase the number of launches to meet what it claims is a “surge in demand.” Chief Commercial Officer Stella Guillén told CNBC that the company’s commercial pipeline exceeds 10 billion euros.
The company successfully reached orbit for the first time over the weekend, marking a significant achievement for Europe’s commercial space industry.
—Justina Lee
And finally…
Gasoline prices hit record high on Labor Day, surpassing $4 per gallon
Higher gas prices at the end of summer mean drivers are paying more for gas on Labor Day than ever before.
Additionally, the holiday weekend is one of the busiest weekends of the year, which means road trip prices may be higher than usual, according to car rental company Hertz.
The national average for a gallon of regular unleaded gasoline on Monday was $4.15, the highest price ever for the holiday, according to AAA.
AAA says prices have never exceeded $4 a gallon on Labor Day. The previous highest price was $3.82, achieved on September 3, 2012.
—Sarah Agostino
