Trump's Tariff Tactics: A New Trade Tension
U.S. President Donald Trump announced a 35% tariff on Canadian imports, effective August 1. Additional blanket tariffs of 15% or 20% are planned for other trade partners. Trump's trade war escalates, hitting allies Japan and South Korea, with a significant 50% tariff on copper imports.
In a bold move, President Donald Trump declared that the United States will levy a 35% tariff on Canadian imports starting August 1. This latest development comes as Trump also sets blanket tariffs ranging from 15% to 20% on most other trading partners.
According to a letter released on his social media platform, Trump informed Canadian Prime Minister Mark Carney of the imminent tariff increase, warning it could rise further if Canada retaliates. The move extends the trade conflict, as new tariffs were also introduced on allies such as Japan and South Korea, alongside a substantial 50% tariff on copper.
During an NBC News interview, Trump discussed potential tariffs for countries not yet notified, emphasizing that not everyone will receive a formal letter. Instead, blanket tariffs are being prepared for various nations, with percentages to be determined.
(With inputs from agencies.)
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