On Thursday, US President Donald Trump said that the US will put a 35% duty on Canadian goods starting next month and that it would impose 15% or 20% blanket duties on the majority of its trade partners. Trump informed Canadian Prime Minister Mark Carney in a letter posted on his social media account that the higher tariff would take effect on August 1 and would increase if Canada reacted. The 35% duty is a setback for Carney, who was trying to reach a trade agreement with Washington, and it is more than the 25% levy that Trump had previously imposed on Canada.
According to an administration official, Trump has not yet made a final decision on the 10% tariffs on energy and fertiliser, and it was anticipated that the exclusion for items covered by the United States-Mexico-Canada Agreement (USMCA) on trade will remain in place.
In his letter, Trump bemoaned Canada’s tariffed and non-tariff trade obstacles that harm US dairy farmers and others, as well as what he called the flood of fentanyl from Canada. He said that the US economy and national security were in danger due to the trade deficit. Although they have made steps to fortify the border, Canadian officials claim that only a small proportion of fentanyl comes from their country.
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