chairman Donald Trump A new attack on global trading partners with Canada is one of the worst hits.
In a letter sent to its northern neighbor late on Thursday, Trump said that the US would impose 35% tariffs on the country earlier next month.
Canada is the second largest American trading partner after Mexico, and is the largest buyer of American exports.
According to Financial Times, a US government official said Tariff The “possible” on Canada will be forgiven for goods that comply with Trump’s 2020 trade agreement with Canada and Mexico, but said that “no final decision” was made. Such a step can blunt the effect of high tariffs.
The Canadian dollar slipped 0.6% against the US dollar before recovering to trade 0.22% below.
In an X statement, Canadian Prime Minister Mark Carney replied: “During the current trade talks with the United States, the Canadian government has continuously defended our workers and businesses. We will continue to do so.
Trump alleged in his letter that the flow of Phantainel from Canada was a reason for tariff hike. “If Canada works with me, to prevent the flow of Phantenile, we, perhaps, will consider an adjustment in this letter,” Trump wrote.
Carney replied, “Canada has made significant progress to prevent Phenanel crisis in North America. We continue to work with the United States to save life and protect communities in both our countries.”
In late June, Trump said it was a “clear attack” and after threatening to shut down the business talks, Carney finished a tax on Big US Technology firms. The Canadian leader said that the tax was demolished as a “part of a major dialogue” on trade between the two countries.
Earlier on Thursday, Trump told NBC News that the European Union countries should expect a tariff announcement to target the “today or tomorrow” blocks. Countries that did not receive a letter from them will have to face a tariff of 15-20%.
“We are just going to say that all the remaining countries are going to pay, whether it is 20% or 15%. We will work now.”
Trump’s “mutual” tariffs are currently set to 10%.
The US administration on Thursday revealed that Trump recently sent letters to another 23 countries, which threatened tariffs.
He is planning 30%tariff on Algeria, 25%on Brunei, 30%on Iraq, 30%on Libya, 25%on Moldova, 20%on Philippines and 30%on Sri Lanka.
Brazil faces 50% tariff as a reaction to its former President Zaier Bolsono’s testing.
