Canada, Donald Trump
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Opponents from Washington state of U.S. President Donald Trump’s tariff threats against Canada are vowing to fight, saying the ongoing trade war has delivered a heavy blow to American border communities.
A slew of countries will face steep levies, including a 50% tariff on imports from Brazil and a 30% tariff on the European Union.
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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.
Trump, 79, notified Canadian Prime Minister Mark Carney of the incoming tariffs in a letter – one of dozens the president has fired off to foreign leaders this week ahead of an Aug. 1 deadline for
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.
US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.
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.