US President Donald Trump's tariff locomotive is moving full steam ahead! According to Reuters, US tariffs on Canadian imports could rise as high as 50%.
White House officials have stated that US tariffs on Canadian imports could be significantly higher than the previous 25%. Initially, President Trump planned to impose a 25% tariff on all steel and aluminum imports from Canada. However, the situation could change, with these tariffs being added to other fees on Canadian goods, bringing the total tariff rate up to 50%.
Canadian Prime Minister Justin Trudeau has called Trump's tariffs on steel and aluminum unacceptable, warning that Canada is prepared to respond "firmly and decisively" to these actions. This sentiment is shared by Canada's Minister of Innovation, Science and Industry Francois-Philippe Champagne, who argues that these tariffs are "completely unjustified," stressing that the Canadian aluminum and steel industries are vital to key sectors of the US economy.
