Urgent.News

What's breaking now, across thousands of outlets.

Business

Trump announces 50% tariffs on Canadian automotive and steel imports

President Trump said tariffs on Canadian automotive and steel imports will rise to 50% on January 1, 2027, in a social media post.

On Monday, President Trump announced a 50% tariff on all Canadian automotive and steel imports, set to take effect on January 1, 2027, following the collapse of trade negotiations between the two countries, according to a post on his social media platform Truth Social. Trump accused Canada of "ripping off the United States of America for years" and stated that all cars, trucks, automotive parts, and steel will be subject to the new tariff.

He emphasized that vehicles manufactured in the U.S. will not be impacted by the increased taxes. The tariff was reported to have gone into effect on Saturday, targeting hundreds of Canadian goods, such as imported hockey sticks and agricultural products. Canadian Prime Minister Mark Carney informed that Canada intends to respond with its own tariffs, scheduled to commence on September 8. This story is ongoing and will be updated as further developments emerge.

Written by urgent.news from CBS News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

This story

This is one outlet's version. Read the fullest account.

Read the original at cbsnews.com →

More in Business

Land grant to facilitate mega project development

The chairman of the Hung Shui Kiu Industry Park Company, Jeffrey Lam, has welcomed the government’s decision to grant them an additional 20 percent of land size upon formation carried out by the…

  • Hung Shui Kiu Industry Park awarded 20% extra land for mega project.
  • Project includes three residential sites and smart logistics centre.
  • Winning consortium brings diverse expertise to development.

More from Monday 24 August →