Canada is dropping retaliatory tariffs to match U.S. tariff exemptions for goods covered under the United States-Mexico-Canada trade pact, Prime Minister Mark Carney announced Friday.
President Donald Trump said in a letter that he will raise taxes on many imported goods from Canada to 35%, deepening a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.
Canada is retaliating against some U.S. trade policies.
U.S. President Donald Trump and Canadian Prime Minister Mark Carney faced off in the Oval Office on Tuesday and showed no signs of retreating from their gaping differences in an ongoing trade war that has shattered decades of trust between the two countries.
The Senate passed a resolution Wednesday night that would thwart President Donald Trump’s ability to impose tariffs on Canada, delivering a rare rebuke to the president just hours after he unveiled sweeping plans to clamp down on international trade.
With President Donald Trump’s so-called “Liberation Day” of tariff implementation fast approaching, Senate Democrats are putting Republican support for some of those plans to the test by forcing a vote to nullify the emergency declaration that underpins the tariffs on Canada.
The European Union and Canada quickly unveiled retaliatory measures this week after President Donald Trump’s anticipated tariffs on imported steel and aluminum took effect.
Ontario’s premier, the leader of Canada’s most populous province, announced that effective Monday it is charging 25% more for electricity to 1.5 million Americans in response to U.S. President Donald Trump’s trade war.
Canadian Prime Minister Justin Trudeau said Thursday he expects Canada and the U.S. to be in a trade war for the foreseeable future after having what he called a colorful but constructive call with U.S. President Donald Trump this week.
President Donald Trump said Monday that 25% taxes on imports from Mexico and Canada would start Tuesday, sparking renewed fears of a North American trade war that already showed signs of pushing up inflation and hindering growth.
