US President Donald Trump signed an executive order on Thursday increasing tariffs on Canadian goods to 35 percent from 25 percent, the White House said.
The new rates goes into effect today (August 1).
“In response to Canada’s continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25 percent to 35 percent to effectively address the existing emergency,” the White House said.
The Canadian Prime Minister Mark Carney has issued a statement on the tariff increase to 35 percent saying his government is ‘disappointed’ but continues to negotiate on our trading relationship.
“The Canadian government is laser-focused on what we can control: building Canada strong. The federal government, provinces and territories are working together to cut down trade barriers, to build on Canadian economy. We are developing a series of major nation-building projects with legislation in our history. We will continue working with the US to stop the scourge of fentanyl and save lives in both our countries,” Carney said in his official statement.
