Trump Raises Tariffs on Canada to 35%

“President Donald Trump said the US will put a 35% tariff on some imports from Canada after trade negotiations between the two countries broke down,” Bloomberg reports.

“The new rate represents an increase from the 25% tariffs Trump imposed in early March under an emergency law.”

“But the US administration kept in place an exemption for goods traded under the rules of the US-Mexico-Canada trade agreement. US automakers and other companies with integrated North American supply chains had pushed for that carve-out, which has allowed US importers to continue bringing in the bulk of Mexican and Canadian products without duties.”