Trump threatens 35% tariff for Canada, higher rate than other allies
Trump had already released other letters, such as a 50% rate for Brazil because he said that country was treating his ally, former president Jair Bolsanaro, unfairly. Close allies such as Japan and South Korea face 25% tariffs.
The threatened tariff was the latest in Trump's on-and-off tax on imports from around the world. But among the three largest U.S. trading partners, Trump reached a framework for talks with China and still doesn't have agreements with Canada or Mexico.
Trump cut off trade talks with the northern neighbor on June 27, complaining about Canada's triple-digit tariffs on dairy products.
Trump had announced tariffs on countries worldwide on April 2. Then because of market jitters, he extended the deadline April 9 to July 9 so trade talks could continue. Wall Street reacted to the delays with a derisive nickname TACO, for Trump Always Chickens Out.
But Trump insisted the latest deadline will stand. He had announced over the weekend that talks with 170 countries were too complicated so that he would simply send out letters announcing the tariffs for each country. The letters began trickling out this week.
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The Independent
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16 minutes ago
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