Trump 35% import tax on Canada
Washington: US President Donald Trump has imposed a 35% import tax on Canada.
The tax will be applied to products coming from Canada to the US from August 1, 2025, after the US President imposed a 35% import tax on Canada.
In this regard, President Trump said that we are just going to say that all other countries will have to pay taxes, whether it is 20 percent or 15 percent.
It should be noted that this week, President Trump has informed more than 20 countries in letters that if they cannot reach a trade agreement by August 1, tariffs will be imposed on their products at the specified rates.Trump’s announcement of higher tariffs on Canada comes amid a flurry of letters Trump has sent to world leaders over the past week informing them what rates their goods will be tariffed at come August 1, absent any trade deals. Trump has sent nearly two dozen such letters.
But Canada is by far the largest trading partner with the United States to receive a letter from Trump this week. Canada and the US have been in trade talks with the hopes of reaching a deal by July 21.
NBC News also reported Thursday that Trump told “Meet the Press” moderator Kristen Welker that the remaining US trading partners that have not yet received trade letters or reached framework agreements will be charged a blanket tariff rate. The United States currently imposes a 10% tariff on nearly all foreign goods coming into the country, but Trump on Thursday said he might double that.
“We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump said, according to NBC News.
Canada is the top buyer of US exported goods, importing $349 billion worth last year, according to Department of Commerce data. Tariffing Canadian goods could, therefore, backfire if additional retaliatory tariffs are put in place on American goods. (Trump threatened to respond to any such tariffs by raising rates on Canadian goods.)
