Trump, Canada and Tariff
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The deadline for the duties to go into effect are still three weeks, which may mean the announcements could be a negotiating move.
Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.
Canada became the latest country to be slapped with increased tariffs by the Trump administration on Thursday. Starting August 1,
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President Donald Trump on Saturday announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1, a move that
The president posted letters to his EU and Mexican counterparts on his Truth Social account on Saturday morning.
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President Trump on Thursday threatened to impose 35% tariffs on goods from Canada starting next month, hiking import duties on one of the U.S.'s largest trading partners.
The president revived his discredited claims about fentanyl entering the U.S. from Canada to justify his latest proposed rate of 35 percent.
President Donald Trump said the U.S. will impose a 35% tariff on all Canadian goods from Aug. 1 and threatened a blanket 15 to 20% levy on most other nations.
US trading partners brace for significant tariff hikes as President Donald Trump delays their imposition yet again.
Leaders from both economies had been trying to negotiate more favorable terms, only to have those efforts blown up by form letters.
The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.