Afternoon Coffee: U.S. Allies Retaliate on Tariff Move, Tradeshift Hits ‘Unicorn’ Valuation

After the U.S. followed through Friday with threatened tariffs on imports of steel and aluminum from Canada, Mexico and the European Union, the three U.S. allies said they will respond with punitive tariffs of their own, CNN reports. The E.U. will move ahead with roughly $7.5 billion worth of duties on U.S. exports, while Canada will place tariffs on a range of products, attempting to put political pressure on the Trump administration.

Tradeshift Valuation

Procure-to-pay provider Tradeshift has raised an additional $250 million during a funding round led by Goldman Sachs and PSP Investments, bringing the company’s valuation to $1.1 billion, Bloomberg reports. Following the round, Tradeshift won’t need any more funding, CEO  Christian Lanng told Bloomberg, and plans to be ready for an IPO within 24 months, depending on market conditions.

PeopleFluent Acquisition

Learning Technologies Group (LTG) announced Thursday it had completed its acquisition of PeopleFluent, adding the talent management system to its portfolio, according to a press release. The new offering “expands the opportunity for all Group companies to offer a strategic, results-focused offer in the broader context of capabilities required for the modern workforce,” the company said in the announcement.

Jobs Report

And finally, an economic update: U.S. employers added 223,000 jobs in May, the New York Times reports. That growth pushed the unemployment rate down to 3.8%, its lowest reading since the early 2000s.

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