Trump threatens 35% tariff for Canada amid flurry of letters threatening hikes
The announcement July 10 came amid a flurry of letters going out this week dictating tariff rates for each of more than a dozen countries. Trump has offered to continue trade talks before the rates go into effect Aug. 1.
'We're just going to say all of the remaining countries are going to pay, whether it's 20% or 15%. We'll work that out now,' Trump told NBC News' 'Meet the Press' moderator Kristen Welker in a phone call.
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.
This article originally appeared on USA TODAY: Trump threatens 35% tariff for Canada, higher rate than other allies
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
EU, U.S. heading towards 15% tariff deal, EU diplomats say
BRUSSELS (Reuters) -The European Union and the United States are heading towards a trade deal that would result in a broad tariff of 15% applying to EU goods imported into the United States, two diplomats said on Wednesday. The rate, which could also extend to cars, would mirror the framework agreement the United States has struck with Japan.
Yahoo
18 minutes ago
- Yahoo
NIQ valued at $6.1 billion as shares dip in NYSE debut
(Reuters) -NIQ Global's shares fell 3.6% in their NYSE debut on Wednesday, giving the Advent-backed consumer insights company a valuation of $6.1 billion. The lukewarm reception marks a setback in an otherwise strong run for IPOs as solid equity markets and upbeat debuts had encouraged investors to look past tariff-related volatility. NIQ's stock opened at $20.25 per share, compared with the IPO price of $21 per share. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 minutes ago
- Yahoo
Why Shares of Kohl's Are Sinking Today
Key Points Kohl's has become a meme stock. Investors recently noticed the stock had close to 50% short interest. The company has struggled as of late. 10 stocks we like better than Kohl's › After rocketing nearly 38% higher yesterday, shares of Kohl's (NYSE: KSS) traded close to 16% lower, as of 12:12 a.m. ET today. Shares bobbed and weaved in violent trading sessions sparked by interest from retail investors, who view Kohl's as a meme stock. Meme mania is back With the market at all-time highs, investors are back in on meme stocks and appear to have targeted several names with high short interest that seem ripe for a short squeeze. Other stocks that have become meme stocks include Opendoor, Krispy Kreme, and GoPro. Kohl's had one of the highest percentages of its public float shorted at close to 50%, making it the ideal candidate for meme investors to identify. Kohl's was the topic of several threads on the popular sub-Reddit WallStreetBets on Tuesday. Kohl's has struggled as competition from e-commerce and other discount retailers has cut into the company's business. Recently, analysts at Goldman Sachs raised their price target from $5 per share to $7 on "reacceleration in top-line growth and cleaner inventories." But the stock has soared past that level, due to the meme rally. Of the 12 Wall Street analysts that have issued research reports on the stock over the last three months, five had a hold rating on the company, while seven say sell, according to TipRanks. The average price target implies about 43% downside, as of this writing. Buckle up As mentioned, Kohl's no longer trades on any kind of fundamentals and now is being propelled by social media-driven exuberance. There's no predicting where the stock will go or in which direction, so investors should avoid the name. But if you do invest, only invest what you can afford to lose. Should you invest $1,000 in Kohl's right now? Before you buy stock in Kohl's, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Kohl's wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $641,800!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,023,813!* Now, it's worth noting Stock Advisor's total average return is 1,034% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Bram Berkowitz has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Goldman Sachs Group. The Motley Fool has a disclosure policy. Why Shares of Kohl's Are Sinking Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
