Latest details in Trump's tariff war with Canada
U.S. trade talks with Canada fell apart. Now, Canada will levy retaliatory tariffs on the U.S. in reaction to President Trump's heavy tariffs. CBS News' Aaron Navarro has more.
On Wednesday, US President Donald Trump declared it was time to teach Canada a lesson for breaking off trade talks, just days after they reached a "pretty good" deal. In an interview with Glenn Beck, Trump stated that while there were a few inconveniences, the nation could easily source the necessary goods elsewhere. On Saturday, the president imposed new 50% tariffs on $20 billion worth of Canadian imports, following the collapse of negotiations.
Canada responded on Tuesday with retaliatory tariffs on approximately $20 billion worth of US annual imports, and announced aid for businesses and workers, matching Washington's measures dollar for dollar. The new duties will take effect on September 8. Trump also announced 50% tariffs on Canadian autos and parts, set to begin on January 1.
The Canadian Embassy in Washington has yet to comment on the situation. White House adviser Peter Navarro predicted that any deal Canada concludes with the US will be less favorable than the one initially offered, stating that the deal turned down by Canada will never be replicated. Navarro deemed the U.S. offer to Canada economically uncomfortable, expressing his disbelief at the nation's decision.
Written by urgent.news from The Economic Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Time to teach Canada a lesson: Trump economictimes.indiatimes.com
