Latest on Trump's tariffs against Mexico, EU
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Canada became the latest country to be slapped with increased tariffs by the Trump administration on Thursday. Starting August 1,
Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.
Note: Goods from Canada and Mexico that fall under the U.S.M.C.A. trade pact — the agreement that replaced NAFTA — are not subject to tariffs that took effect in March targeting those countries.
President Trump on Thursday threatened to impose 35% tariffs on goods from Canada starting next month, hiking import duties on one of the U.S.'s largest trading partners.
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Korea JoongAng Daily on MSNTrump announces 30% tariffs for EU, Mexico from Aug. 1U.S. President Donald Trump on Saturday announced he's levying tariffs of 30 percent against the European Union and Mexico starting Aug. 1, a move that could cause massive upheaval between the United States and two of its biggest trade partners.
President Donald Trump has posted two new letters on his social media platform announcing tariffs on the European Union and Mexico.
The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.
On Thursday, the president announced a 35 percent tariff on all Canadian goods not covered by the United States-Mexico-Canada Agreement (USMCA) to take effect on August 1, unless a trade deal is reached before then.