Key Background
Trump implemented the 10% global tariffs in February after the Supreme Court struck down most of his so-called Liberation Day tariffs. Trump imposed the temporary tariffs under a law that allows levies to remain in effect for 150 days while the U.S. assesses major trade imbalances. Trump’s new tariffs on Canada were implemented under Section 338 of the Tariff Act of 1930, which allows presidents to impose levies against countries discriminating against U.S. goods.
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What To Watch For
The new 50% tariffs on some Canadian goods are set to begin in 30 days.
Tangent
Canadian Prime Minister Mark Carney accused the U.S. of violating the North American trade pact with the 50% tariffs Trump announced Monday, but said his country is willing to “engage intensively to address any outstanding issues.” Carney also said the alleged discrimination the White House has claimed was merely a response to Trump’s new tariffs on Canadian autos. Greer said Canada’s proposals are “generally for promises to discuss these issues” and often cover “things we already do.”
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further reading
Trump Administration Proposes New Tariffs After Forced Labor Probe Into 60 Countries (Forbes)
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Carney Says Canada Is Open To Talks After Trump Imposes New 50% Tariffs (Forbes)
Trump Threatens Canada With New Tariffs For Wildfires (Forbes)