U.S. President Donald Trump announced a potential 35 percent tariff on Canadian goods set to begin August 1, impacting current tariffs at 25 percent while exempting CUSMA-compliant items. This decision has disrupted ongoing trade negotiations, initially aimed at concluding by July 21, but subsequently extended to the new deadline. The president warns of tariff adjustments based on U.S.-Canada relations. Canadian officials, including Saskatchewan's Premier Moe, have called for a thoughtful approach in response to the threats, urging ongoing dialogue to mitigate trade tensions and expand markets.
U.S. President Donald Trump released a letter threatening to impose 35 percent tariffs on Canadian goods on August 1, as trade negotiations were taking place.
The new 35 percent tariff rate may apply to goods currently tariffed at 25 percent, but CUSMA-compliant goods will remain exempt.
Trump indicated that tariffs may be modified depending on the future relationship between the U.S. and Canada, suggesting potential volatility in trade agreements.
Saskatchewan Premier Scott Moe advised a measured response to Trump's ongoing tariff threats, emphasizing engagement with U.S. officials and market expansion.
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