The letter is certainly one of greater than 20 despatched by the White Home this week to varied commerce companions, outlining potential tariff hikes if no agreements are reached by August. BBC reported that Trump has proposed blanket tariffs of as much as 20% on different international locations as nicely.
Canada responds
Canada’s prime minister Mark Carney swiftly addressed the event, stating on X, previously Twitter, that “Canada has made very important progress to cease the scourge of fentanyl in North America.” He added, “We’re dedicated to persevering with to work with the USA to save lots of lives and defend communities in each our international locations.”
Carney emphasised that his authorities would proceed defending Canadian companies and staff, stating, “We are going to proceed to take action as we work in the direction of the revised deadline of August 1.”
Canada, the highest purchaser of US exports and the third-largest supply of imports, exported $413 billion value of products exported to the US in 2024, a report from CNN famous. In flip, the US shipped $349 billion in items to Canada that 12 months.
Escalating tariffs
The brand new 35% obligation is separate from present levies, together with 50% tariffs on metal and aluminium and 25% on autos. Trump additionally confirmed a 50% copper tariff starting subsequent month. Vitality imports stay topic to a ten% charge.
