Trump threatens 35% tariffs against Canada
CBSN
President Trump on Thursday threatened to impose 35% tariffs on goods from Canada starting next month, hiking import duties on one of the U.S.'s largest trading partners.
The president announced the 35% tax in a letter to Canadian Prime Minister Mark Carney posted to Truth Social, citing Canada's alleged "failure to stop the drugs from pouring into our country," as well as retaliatory tariffs Canada has imposed on U.S. goods. The new tariffs are set to take effect Aug. 1, the president said.
The move is an escalation from the 25% tariffs on Canadian — and Mexican — imports announced by Mr. Trump shortly after taking office. He later exempted goods covered by the U.S.-Mexico-Canada Trade Agreement, which was negotiated during Mr. Trump's first term. It's unclear whether the same exemption will apply to next month's 35% tariffs.
