Saturday, July 12, 2025

Donald Trump threatens 35% Canada tariff, floats higher blanket rates

Date:

US President Donald Trump will levy a 35% tariff on goods coming into the US from Canada, he said in a post on Truth Social. The tariff level would take effect from Aug. 1.It’s not clear whether a current exemption for goods traded under the USMCA trade pact would be extended or ended.

Trump is also eyeing blanket tariffs of 15% to 20% on most trading partners, he said in an interview with NBC News on Thursday, adding that the exact levels are being worked out now. The current blanket tariff rate is 10%.

Taken together, the moves signal no retreat from his flagship economic policy, with Trump noting to NBC the recent rise in US equity markets even as Trump plans higher tariff rates on major trading partners that would start within weeks.The president has spent the week sending missives to trading partners, informing them of new rates that will kick in on Aug. 1 if they cannot negotiate better terms. Letters to members of the European Union are also expected shortly.

Read More: Jamie Dimon warns markets are getting complacent on tariffs

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Subscribe

spot_imgspot_img

Popular

More like this
Related

Air India AI171 Crash: AAIB to examine more evidence, no immediate safety directives for Boeing 787 operators

The Aircraft Accident Investigation Bureau (AAIB) has said in...

Divi’s Laboratories shares get an upgrade from HSBC who raises price target by 57%

Shares of Divi's Laboratories Ltd. gained on Tuesday, July...

India Launches 1st Electric Truck Scheme With Maximum Incentive Of Rs 9.6 Lakh Per Vehicle | Mobility News

नई दिल्ली: केंद्र ने शुक्रवार को पीएम ई-ड्राइव पहल...