U.S. Tariffs on Canadian Goods Soar Amidst Trade Tensions

In a bold move on Thursday, U.S. President Donald Trump authorized an executive order raising tariffs on Canadian imports from 25% to 35%, according to the White House. This will affect all products not protected by the U.S.-Mexico-Canada trade agreement.

The decision comes amid frustration over what the White House describes as Canada's 'continued inaction and retaliation' in trade dialogue, even as Canadian Prime Minister Mark Carney reportedly reached out to Trump, albeit with no resulting discussions.

Despite the tough stance, U.S. Commerce Secretary Howard Lutnick hinted at a possibility of easing tariffs if Canada makes progress in negotiations. Meanwhile, Trump maintains that Canada's past trade practices have been unfavorable to U.S. farmers.

(With inputs from agencies.)