FX.co ★ Trump Sets 10% Tariff Hike on Canada after Ad Airs During World Series

On Saturday, President Donald Trump announced an increase in tariffs on Canada, imposing an additional 10% on existing rates. This decision followed his response to an advertisement by Ontario province that aired during the World Series. The advertisement prompted Trump to end trade discussions with Ottawa on Thursday, citing it as misleading, as initially reported by Reuters. In a post on Truth Social, Trump justified the tariff hike by stating that tariffs can lead to trade wars and economic instability. Ontario Premier Doug Ford responded on Friday by stating that following discussions with Canadian Prime Minister Mark Carney, the province would suspend its U.S. advertising campaign starting Monday to facilitate the resumption of trade negotiations. Neither the U.S. Commerce Department, the White House, nor the office of the Canadian Prime Minister have issued comments on this matter as of yet.