Summary
President Donald Trump announced he is stopping all trade talks with Canada. He made this decision after Canada aired an advertisement with former President Ronald Reagan criticizing tariffs. The U.S. has placed several tariffs on Canadian imports, but some exemptions apply to items covered by a trade agreement with Mexico and Canada.
Key Facts
- President Trump ended all trade negotiations with Canada.
- The decision followed a Canadian ad using past President Reagan's criticism of tariffs.
- A new tariff of 35% is applied to Canadian imports by the U.S.
- Certain goods are exempt from these tariffs under the USMCA agreement.
- Sector-specific tariffs include 50% on metals and 25% on automobiles.
