Trump, Canada and Tariffs
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The deadline for the duties to go into effect are still three weeks, which may mean the announcements could be a negotiating move.
President Donald Trump on Saturday threatened duties of 30% on products from Mexico and the European Union, two of America’s biggest trading partners, in an ongoing tariff campaign that’s upended global trade since he retook office in January.
The president posted letters to his EU and Mexican counterparts on his Truth Social account on Saturday morning.
Trump this spring imposed a 25% tariff on cars and car parts, including those from Canada. But certain cars and parts qualify for preferential treatment under the USMCA, meaning the 25% tariff applies only to the non-U.S. content of the automobile or part.
President Donald Trump announced a new set of duties on Canadian goods that were not covered by existing sectoral tariffs.
The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.
1don MSN
A surprise vote barring the Trump administration from moving the FBI’s headquarters to a new location in Washington, D.C., brought the Senate appropriations process to a halt — a setback for lawmakers working to avert a government shutdown at the end of September.
Japan’s Nissan Motor (NSANY) (NSANF) has suspended U.S. production of three vehicle models destined for Canada due to reciprocal auto import tariffs imposed by the U.S. and Canada.