According to the Financial Times, U.S. President Donald Trump plans to impose a 35% tariff on Canada starting August 1, escalating trade tensions. Tariffs on other countries may also rise to 15-20%. Canada could receive exemptions if it complies with trade agreements. The move risks disrupting $760 billion in U.S.-Canada trade. Canadian PM Mark Carney vows to tackle issues like fentanyl trafficking ahead of the deadline. They write:
Donald Trump has said the US will impose a 35 per cent tariff on Canada at the start of August as he launches a fresh salvo against one of the country’s largest trading partners.
The US president sent a letter to Canada late on Thursday, following an interview in which Trump warned EU nations to expect a tariff announcement targeting the bloc “today or tomorrow”. He said countries that had not received a letter from him would face tariffs of 15-20 per cent. […]
Carney this month dropped a digital services tax that had attracted Trump’s ire for targeting US technology companies, as the prime minister tried to smooth over trade tensions — prompting criticism from opponents.
“Carney gave up the pretence of standing up to Trump a while ago,” said Dan Nowlan, who was an adviser in former Conservative prime minister Stephen Harper’s government.
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