According to a letter released on US President Donald Trump’s Trump’s Truth social media platform, Canada is facing 35% tail on his exports in early August.
In the letter, Trump told Canadian Prime Minister Mark Karney that the new tariff would be implemented on 1 August.
Neighbors have been in business talks to reach a deal by 21 July, but Trump’s danger has shifted the time limit.
The US President has said that the European Union would receive a letter, suggesting that the European Union’s plan was not going well till 1 August.
Canada worked towards the revised time limit, Carney says
Carney posted on the social media platform X on Thursday night said, “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.
Canada and Mexico are working to meet Trump’s demands in an attempt to place USMCA – free trade agreement connecting three countries on track.
Trump has targeted his neighbors to the north and south, accusing them that on the flow of irregular migration and cross -border drugs, it is not enough to close Phentenile, especially.
“If Canada works with me, to prevent the flow of Phantenile, we, perhaps, will consider the adjustment in this letter,” Trump wrote.
Trump to send letters to the European Union, others
Trump, shortly before the announcement, would apply 35% TAIF on Canadian imports, Trump told NBC News that he was planning a blanket tetf on other business partners who said, who said, “Today or tomorrow” would be given a “today or tomorrow” notification letter.
“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.”
“I like to do it today,” said Trump, and said: “I am talking to the European Union, which you know, many countries and Canada. We are putting topics in the next few hours.”
After the announcement, both the European Union and the US stock futures drowned in Asia as trading began on Friday morning.
Trump unexpectedly delayed his conversation deadline with several business partners from 9 July to 1 August this week.
The European Union currently face 50% US TAIF on its steel and aluminum exports, 25% on cars and car parts and 10% on most other products. The European Union has said that if no deal can be signed with the US, it will put up the counterers.
On 2 April, Trump said “Liberation Day”, a sleeve of the so -called “mutual” tifs was announced, with 20% of the European Union. Thesis was later taken back to give time to interaction. Tariff Anumates came under considerable criticism after bouncing the global market turmoil, but some suggested that they were part of Trump’s plan to force countries to provide a better deal to the US.
Edited by: Alex Berry
