Trump slaps 35 percent tariff on Canada starting August 1
Summary
President Donald Trump announced a new 35 percent tariff on imports from Canada, starting next month, as part of wider trade measures. He plans to impose additional tariffs of 15 or 20 percent on other countries and has sent numerous letters about these intentions.Key Facts
- Trump plans to place a 35 percent tariff on Canadian imports, effective August 1.
- If Canada responds with tariffs, the U.S. tariff rate will increase.
- Trump has sent over 20 letters to various world leaders discussing tariff plans.
- Trump said blanket tariffs of 15 or 20 percent could apply to other countries.
- Talks are ongoing between the U.S. and Canada to resolve trade issues by July 21.
- The United States-Mexico-Canada Agreement (USMCA), replacing NAFTA, is under review.
- Trump imposed a 50 percent tariff on copper and set new tariffs on Japan and South Korea.
- Myanmar is negotiating a reduction in its 40 percent tariff rate with the U.S.
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