President Trump on Monday announced a 50% tariff increase on numerous Canadian imports, including cars, trucks, automotive parts, and steel.
“Canada has been ripping off the United States of America for years. Their ridiculously high tariffs on our Farmers and farm products has made life impossible for these great American Patriots, and has long created a 60 Billion Dollar Deficit between our two Countries. Not sustainable, and NOT ANYMORE!” Trump wrote on Truth Social.
“On January First, 2027, Tariffs on all Cars, Trucks, both large and small, Automotive Parts, and Steel, will be increased to 50%. Build in the U.S. and there are ZERO TARIFFS. Canada will be treated like a State no longer! On Trade, and in other ways, also, they are among the worst Nations in the World to deal with,” Trump continued.
“They feel entitled, and yet, WE DON’T NEED CANADA, THEY NEED US! They do 95% of their business with the U.S., with us, the exact opposite!” he added.
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The Hill shared further:
“For over a year, Canada has worked intensively and in good faith with the United States to negotiate a new comprehensive trade deal. We have been pragmatic, patient, and persistent. Our goal has always been to get the best deal for Canadians, never a deal at any price or on any time frame. Late last evening I instructed our negotiators to return to Ottawa. We cannot accept what the U.S. has offered, and we will not give what they have asked,” Carney explained.
“Canada will match the U.S.’ new tariffs dollar for dollar in order to protect Canadian workers, farmers, families, and businesses. We take this step confident that it is in the best interests of Canada. In the coming days, we will release the details of these new tariff measures, which will come into force the Tuesday after Labour Day,” he continued.
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[H/T 100PercentFedUp]