Trade talks between the U.S. and Canada fell apart late Friday night, and both sides said steep new tariffs will go into effect. Why it matters: It's an unprecedented breakdown in relations with the second-largest U.S. trading partner. Catch up quick: Trump last month threatened to invoke Section 338 of the Tariff Act of 1930 to hit a slew of Canadian goods with additional 50% duties, including alcohol, hockey equipment, cement and dairy products. - No president has ever used Section 338 to impose tariffs since it became law in 1930. - The tariffs were scheduled to take effect at 12:01 a.m. ET Wednesday. The administration carved out key Canadian exports, including energy, potash and critical minerals, from the new tariffs. - On…
President Trump said Tuesday night he is pausing for three days 50% tariffs on billions of dollars worth of Canadian goods that were set to take effect early Wednesday. Why it matters: It follows an intense push in recent days — including talks between Trump and Canadian Prime Minister Mark Carney on Tuesday — to avert another escalation in the North American trade war . What they're saying: "I have paused the 50% Tariffs against Canada, that were scheduled to kick in tomorrow morning for a three day period, based on the fact that Canada and the U.S.A., subject to the finalization of documents, have a DEAL!" Trump wrote on Truth Social. - "The great Keystone XL Pipeline, long ago killed by Sleepy Joe Biden, may be awoken from the…
President Donald Trump is putting America first again—this time by confronting Canada over trade policies that unfairly target American workers and manufacturers. President Trump has ordered a 50 percent tariff on a wide range of Canadian imports, including wine, dairy products, cement, and even hockey sticks. The duties will take effect 30 days after the […] The post President Trump Orders Huge New Tariffs on Canada appeared first on StoneZone .
President Donald Trump is putting America first again—this time by confronting Canada over trade policies that unfairly target American workers and manufacturers. President Trump has ordered a 50 percent tariff on a wide range of Canadian imports, including wine, dairy products, cement, and even hockey sticks. The duties will take effect 30 days after the proclamation was signed. The administration says Canada has also discriminated against American motor vehicles and auto parts by imposing special tariffs on U.S. products while treating goods from other countries more favorably. In response, President Trump is using authority under the Tariff Act of 1930 to level the playing field. These tariffs will apply even to covered goods that…Open
The new tariffs exclude energy products, potash, fish and critical minerals, but they do include goods that have previously been protected from import taxes under the United States-Mexico-Canada Agreement.
The Trump administration made the move in exchange for Belarus’s freeing of 250 political prisoners, part of a rapprochement between the two countries.
