WorldEconomy
Trump threatens to double tariffs on Canadian autos, parts and steel starting Jan 1
US President Donald Trump said he will raise tariffs on Canadian vehicles, automotive parts, and steel to 50% beginning January 1, 2027, intensifying a trade dispute between the neighboring countries.
US President Donald Trump said Monday he would double tariffs on Canadian vehicles, automotive parts, and steel starting next year, as the two countries face an escalating trade war. In a post on Truth Social, Trump said that on January 1, 2027, tariffs on all cars, trucks, automotive parts, and steel would be increased to 50%.
Currently, the US tariff on Canadian automobiles stands at 25% for non-US content, while imported steel to the United States generally faces a 50% duty. Trump's latest threat follows the failure of US and Canadian officials to reach a deal on Friday to avert new 50% US tariffs on select Canadian goods. Those duties took effect on Saturday.
Canadian Prime Minister Mark Carney has since announced retaliatory tariffs targeting US goods, though details of those measures were not provided in the report.
WorldEconomy
Trump threatens to double tariffs on Canadian autos, parts and steel starting Jan 1
US President Donald Trump said he will raise tariffs on Canadian vehicles, automotive parts, and steel to 50% beginning January 1, 2027, intensifying a trade dispute between the neighboring countries.
US President Donald Trump said Monday he would double tariffs on Canadian vehicles, automotive parts, and steel starting next year, as the two countries face an escalating trade war. In a post on Truth Social, Trump said that on January 1, 2027, tariffs on all cars, trucks, automotive parts, and steel would be increased to 50%.
Currently, the US tariff on Canadian automobiles stands at 25% for non-US content, while imported steel to the United States generally faces a 50% duty. Trump's latest threat follows the failure of US and Canadian officials to reach a deal on Friday to avert new 50% US tariffs on select Canadian goods. Those duties took effect on Saturday.
Canadian Prime Minister Mark Carney has since announced retaliatory tariffs targeting US goods, though details of those measures were not provided in the report.