U.S. Boosts Tariffs on Canadian Goods Amid Trade Tensions
President Donald Trump has signed an executive order raising tariffs on Canadian goods from 25% to 35%, effective August 1. The decision follows Canada's retaliatory measures and aims to address the ongoing trade tensions described as an emergency by the White House.
- Country:
- United States
In a significant move affecting international trade, U.S. President Donald Trump signed an executive order on Thursday to increase tariffs on Canadian goods from 25% to 35%. The White House announced the change, which will take effect on August 1.
The decision comes in response to what the Trump administration describes as Canada's continued inaction and retaliatory practices in trade agreements. This increase is part of an effort to address what is seen as an emergency in trade relations between the two countries.
The White House statement underscores the current trade tensions and the need for decisive action to mitigate the situation. The move marks a further escalation in the trade dispute and raises concerns about the economic implications for both nations.
(With inputs from agencies.)
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