US President Donald Trump last night slapped an additional 10 per cent tariff on Canadian imports amid escalating trade tensions with Ottawa. Trump clarified that the new tariff will be charged above and beyond what is already in place for imports from Canada. The decision comes just a couple of days after Trump ended all trade talks with Ottawa after accusing the northern neighbours of misquoting former US president Ronald Reagan in an advertising campaign against tariffs.
Canadian Prime Minister Mark Carney said on Friday that Canada stood ready to resume trade talks with the United States.
Earlier this year, Donald Trump imposed a 25 per cent tariff on Canadian exports and a 10 per cent tariff on energy product exports from Canada. In response, Canada imposed a counter-tariff on goods imported from the US, including orange juice, peanut butter, wine, spirits, beer, coffee, appliances, apparel, and more.
Following the tariff on steel and aluminium, Canada imposed a 25 per cent tariff on steel and aluminium products from the US, as well as tools, computers and servers, display monitors, sports equipment, and cast-iron products.
