US President Donald Trump has hiked tariffs on Canadian imports from 25 per cent to 35 per cent, effective Friday, citing Canada’s failure to act on drug traffickers and criminals. The move comes after warnings of trade penalties if no agreement was reached. Other countries face new tariffs from August 7.
Donald Trump. Image/File Pic
US President Donald Trump has raised the tariff rate on US imports from Canada to 35 per cent from 25 per cent, effective Friday. The announcement from the White House late Thursday said Canada had failed to "do more to arrest, seize, traffickers, criminals at large, and illicit drugs."
Trump earlier had threatened to impose the higher tariff on Canada if no deal was reached by Friday, his deadline for reaching trade agreements with dozens of countries. Canada was not included in Trump's updated list of tariff rates on other countries announced late Thursday. Those import duties are due to take effect on August 7.
This story has been sourced from a third party syndicated feed, agencies. Mid-day accepts no responsibility or liability for its dependability, trustworthiness, reliability and data of the text. Mid-day management/mid-day.com reserves the sole right to alter, delete or remove (without notice) the content in its absolute discretion for any reason whatsoever.
Subscribe today by clicking the link and stay updated with the latest news!" Click here!
