Trump Announces New 50 Percent Tariffs on Canadian Autos
Canada says its counter-tariffs will come into effect on Sept. 8.
TL;DR
- U.S. President Donald Trump announced new 50 percent tariffs on Canadian cars and trucks.
- The tariffs are scheduled to take effect on January 1, 2027.
- Trade talks between Washington and Ottawa collapsed on August 21.
- New U.S. tariffs on approximately US$20 billion of Canadian products will take effect on August 22.
- Canada plans to retaliate with its own tariffs.
- Trump stated that Canada has been exploiting the U.S. and imposed high tariffs on American farmers.