Trump Plans 10% Tariff Increase on Canadian Imports Amid Trade Tensions
Key Highlights
- President Trump plans to increase tariffs on Canadian imports by 10%, with no clear timeline or affected products announced yet.
- The current 35% tariff on Canadian goods has been in place since August 1, under the USMCA agreement, unless exemptions apply.
- Ontario's anti-tariff ad featuring a Reagan speech prompted a protest from the Reagan Foundation, which accused the ad of unauthorized use.
- Trump shared a statement from the Reagan Foundation on social media, alleging the ad was aimed at influencing a Supreme Court decision.
- Canadian Prime Minister Mark Carney expressed optimism about trade negotiations, stating that progress has been made and discussions could resume.
President Donald Trump plans to raise tariffs on imports from Canada by 10%.
There is currently no timeline for when the new tariffs will be imposed or additional details on what goods may be affected. Imports from Canada have been subject to a 35% levy since Aug. 1, unless they qualify for different treatment under the United States-Mexico-Canada Agreement.
The tariff escalation came after the Government of Ontario began airing an anti-tariff ad in the U.S. two weeks ago.
The ad features a segment of a 1987 speeech by U.S. President Ronald Reagan, which detailed the negative impacts of duties and acknowledging the value of free trade.
On October 23, the Ronald Reagan Presidential Foundation and Institue issued a statement on X protesting the unauthorized use of the speech.
Trump reshared the statement in a TruthSocial post, alleging the ad was created to interfere with an upcoming Supreme Court Decision.
Asked to respond to the trade talk cancellation, Canada Prime Minister Mark Carney told a press pool on October 24, that “a lot of progress has been made” on trade talks. “And we stand ready to pick up on that progress and build on that progress when the Americans are ready to have those discussions,” he added, according to YouTube videos of the comments uploaded by CNN and the Associated Press.