U.S. Tariffs on Canadian Goods Soar Amidst Trade Tensions
President Donald Trump has signed an executive order increasing tariffs on Canadian goods from 25% to 35%. This move is attributed to Canada's inaction and retaliation in trade negotiations. The tariffs exclude goods covered by the U.S.-Mexico-Canada agreement. U.S. Commerce Secretary suggests potential reconsideration if there’s progress in talks.
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.)
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