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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“Despite the U.S. offer to Canada to receive the best treatment of any major exporter to our market, new demands and walk backs of other commitments by Canada have upended the careful balance reached in the past days. In addition, Canada is continuing to maintain its prolonged retaliation against the United States, including, among other things, flat-out prohibitions on certain American goods and services,” the United States Trade Representative stated.
“For decades, Canada has enjoyed the most favorable access to the U.S. market of any country. And from the beginning of President Trump’s trade program, Canada has continued to enjoy the best treatment in the world, even after – like China – retaliating against the United States. This week, the United States agreed to provide even better treatment to Canada, offering significant tariff reductions on steel, aluminum, autos, and lumber,” it continued.
“The U.S. offer was also forward looking, and included a historic economic and national security partnership to cooperate on export controls, combat transshipment, enhance digital trade, and align certain external tariffs. The offer would have led to supply chain coordination on aerospace, complementary actions to address unfair trade practices, critical minerals cooperation, increased enforcement against imports produced with forced labor, and the announcement of formal U.S.-Mexico-Canada Agreement (USMCA) negotiations. This is a missed opportunity for Canada to partner with the United States, which is the fastest growing economy in the G7,” it added.
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This is a Guest Post from our friends over at 100 Percent Fed Up. View the original article here.
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