Trump, Brazil and Tariff
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Trump this spring imposed a 25% tariff on cars and car parts, including those from Canada. But certain cars and parts qualify for preferential treatment under the USMCA, meaning the 25% tariff applies only to the non-U.S. content of the automobile or part.
Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S. President Donald Trump saying he'll raise taxes on many imported good
Multiple states bordering Canada could feel the greatest impact of a 35 percent tariff on Canadian products starting August 1.
President Donald Trump late Thursday threatened a 35% tariff on goods imported from Canada, a dramatic escalation in an on-again, off-again trade war with America’s northern neighbor and one of its most important trading partners.
President Donald Trump has been sending letters to countries outlining higher tariffs they’ll face if they don’t make trade deals with the U.S. by Aug. 1.
The president’s tariff announcements suggest he has not backed away from his initial strategy, where even smaller trading partners will face tariffs.
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.
For most world leaders, tariff letters from US President Donald Trump mean a big headache. But for one Southeast Asian general, the communique is being spun as welcome recognition of the embattled, isolated and reviled junta he leads.
Trump is ramping up his global trade war, threatening to put a massive 35% tariff on Canadian goods in just a few weeks. Meanwhile the U.S. resumes sending weapons to Ukraine as Trump says he has a "major statement" on Russia coming soon.
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