What to know about Trump’s 50% tariffs on Canadian goods that just went into effect
CHICAGO (AP) — After trade negotiations crumbled at the eleventh hour, U.S. President Donald Trump’s 50% tariffs on scores of Canadian imports kicked in Saturday. The new levies are expected to affect about 5% of Canada’s annual exports to the U.S., roughly…
In a surprising turn of events, U.S. President Donald Trump's administration has imposed 50% tariffs on numerous Canadian goods, effective immediately. The tariffs, which come after failed trade negotiations, are expected to impact approximately 5% of Canada's total exports to the United States, equating to about $20 billion in merchandise such as hockey sticks, agricultural products, makeup, perfumes, clothing, jewelry, furniture, cameras, fabric, and more.
Canada's Prime Minister Mark Carney vowed to retaliate "dollar for dollar" starting September 8, signaling the beginning of a steep trade war between the two nations. This comes at a time when Canada relies heavily on exports to the U.S. for its economy, with 72% of Canada's total exports going to the United States last year. Experts warn that higher tariffs could drive up costs for businesses and ultimately lead to higher prices for consumers, affecting various industries and professions.
The U.S. has invoked a rarely used provision in the 1930 Smoot-Hawley Act to justify the tariffs, which allows the president to impose up to 50% import taxes on countries that discriminate against U.S. businesses.
Written by urgent.news from Associated Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 9 other outlets
- What to know about Trump’s 50% tariffs on Canadian goods that just went into effect winnipegfreepress.com
- Carney calls Trump’s fresh tariffs a ‘miscalculation’ after trade talks collapse kahawatungu.com
- Carney calls Trump’s fresh tariffs a miscalculation after trade talks collapse peopledaily.digital
- Carney calls Trump's fresh tariffs a 'miscalculation' after trade talks collapse bbc.co.uk
- Jivani calls Carney’s dollar-for-dollar tariff response an ‘overreaction’ that will ‘accelerate conflict’ nationalpost.com
- What to know about Trump's 50% tariffs on Canadian goods that just went into effect pbs.org
- Read Mark Carney's full speech after trade talks with the U.S. collapsed cbc.ca
- ‘Cannot accept what was offered’: Canadian PM Mark Carney on why US trade deal didn't work hindustantimes.com
- and 1 more
