Canada to drop many of its retaliatory tariffs on the US
Summary
Canada will remove some of its tariffs on goods from the United States, keeping them on items like cars, steel, and aluminum. This decision follows a phone call between Canadian Prime Minister Mark Carney and U.S. President Donald Trump and aligns with the US-Mexico-Canada free trade agreement. The changes are set to start on September 1.Key Facts
- Canada will remove tariffs on many U.S. goods but will keep them on cars, steel, and aluminum.
- Prime Minister Mark Carney announced this decision after speaking with President Donald Trump.
- Canada originally imposed a 25% tariff on about C$30 billion worth of U.S. goods in response to U.S. tariffs.
- The U.S. tariffs were 35% on goods not covered by the existing free trade deal.
- Canada will align its tariffs with the US-Mexico-Canada free trade agreement starting September 1.
- The White House welcomed Canada's decision, calling it "long overdue."
- The majority of Canadians support the retaliatory tariffs against the U.S.
- Trump has implemented or raised tariffs on global goods, advocating for favorable trade deals for the U.S.
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