Summary
President Donald Trump announced that the United States will increase tariffs on Canadian goods to 35%, despite Canada dropping its planned digital tax under U.S. pressure. Trump has sent notices to several countries about these increased tariffs, which will start on August 1 unless new trade agreements are made.
Key Facts
- Trump announced a 35% tariff on Canadian goods, up from the previous 25%.
- Canada agreed to cancel a digital services tax that would have affected U.S. technology companies.
- Tariffs will begin on August 1 unless new trade deals are reached.
- Canada is the U.S.'s second-largest trading partner, after Mexico.
- The U.S. claims Canada is not doing enough to stop the flow of fentanyl, an addictive drug, into the U.S.
- Canada exports items like oil, cars, and industrial machinery to the U.S.
- Trump imposed separate tariffs on steel, aluminum, and car parts globally.
- Canada has a $63.3 billion trade surplus with the U.S.
