Canada, Donald Trump and Tariffs
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The Canadian Press on MSN14m
As Trump’s trade deal deadline approaches, his tariffs face legal pushback in courtDonald Trump’s plan to realign global trade faces its latest legal barrier this week in a federal appeals court — and Canada is bracing for the U.S. president to follow
A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.
Canada is one of the United States' top trading partners, with more than $410 billion of goods crossing into the country last year.
The move injects fresh turmoil into a strained bilateral relationship as Prime Minister Mark Carney negotiates a new economic partnership with the United States.
Canada's retail sales shrank by 1.1% in May as consumers curtailed car purchases and spent less at supermarkets, convenience stores and on alcohol, data showed on Thursday.
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Trump recently said he will impose a 35% tariff on Canada, the latest salvo in his on-again, off-again trade war with the U.S. ally and top trade partner.
President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.